Former Trump crypto adviser Bo Hines has been accused of profiting from the GENIUS stablecoin bill. According to The Wall Street Journal, while serving as the White House crypto adviser, Hines continued to hold a one-third stake in Nxum, an investment firm he co-founded, and actively urged members of Congress to pass the stablecoin bill. Meanwhile, Nxum struck a $6.3 million deal with Tether, issuer of the stablecoin $USDT, with the first payment arriving during Hines’s tenure. The report also says he used an encrypted messaging app to update his partners on the bill’s progress. Hines joined Tether as a strategic adviser in August 2025 and became head of its U.S. operations the following month. The bill was signed into law in July 2025 and is set to take effect in January 2027. The case has once again raised concerns about potential conflicts of interest arising from the “revolving door.” Tether has yet to comment.

#稳定币 #Tether

⚠️Risk warning: The above is shared for informational purposes only and does not constitute investment advice. Investing involves risks; proceed with caution.

(Source: Cointelegraph)