Trump’s top crypto adviser departs administration
He thanked President Donald Trump and senators for advancing the proposed crypto framework and said he will share his next steps soon.
- Patrick Witt, President Donald Trump's top cryptocurrency adviser, announced his departure from the administration on Wednesday. Witt previously served as a key architect of the proposed CLARITY Act, a federal framework for digital assets.
- Reporting from The Wall Street Journal linked former White House official Hines to a $6.3 million marketing deal with Tether. Hines co-owned Nxum, a firm that received payments through a middleman while he led White House stablecoin policy.
- Hines reportedly pressed lawmakers to lengthen the GENIUS Act compliance window from 18 to 36 months, benefiting Tether. The firm allegedly made payments to Nxum while Hines directed the White House stablecoin effort.
- In a post on Wednesday, Witt called serving in the administration the "privilege of his lifetime." A White House official confirmed the CLARITY Act remains a priority for the President despite Witt's departure.
- Tether remains under scrutiny after Sen. Richard Blumenthal urged Treasury and the Justice Department to investigate the company. This follows a report from the Senate Permanent Subcommittee on Investigations regarding Iran's use of USDT.
10 Articles
10 Articles
Trump’s former top crypto advisor faces scrutiny over allegations his firm accepted millions from Tether while he shaped key stablecoin law
A new investigation reports that former White House crypto advisor Bo Hines helped shape a stablecoin law while, at the same time, a consulting firm he co-owned received millions of dollars from Tether, the industry’s biggest player. Hines then joined Tether’s new U.S. division shortly after leaving the government. The investigation, conducted by the Wall Street Journal, found that Nxum, a consulting firm Hines cofounded in 2022, earned $6.3 mi…
Tether Payments Reportedly Traced to Bo Hines' Firm Through a Marketing Middleman
Nxum, a small consulting firm that Bo Hines co-owned while he led the White House’s stablecoin push, has taken in about $6.3 million under a marketing deal with Tether, the Wall Street Journal reported on Oct. 14. The first installment was paid in May 2025, before the GENIUS Act became law. Hines was executive director of the White House’s digital assets council, formally the President’s Council of Advisers on Digital Assets. He also held a one-…
A Wall Street Journal investigation connects Tether to $6.3 million paid to Nxum, a company co-founded by Bo Hines, former cryptic advisor to Donald Trump. Article Donald Trump: His former cryptic advisor linked to a $6.3 million deal with Tether appeared first on Cointribune.
Ex-Trump Adviser Bo Hines’ Firm Profited After GENIUS Stablecoin Bill
A former White House crypto adviser who later joined Tether is at the center of fresh scrutiny after a Wall Street Journal report alleged he held a significant stake in an investment vehicle that benefited from the passage of the United States’ stablecoin framework. According to the Wednesday report from The Wall Street Journal, Bo Hines—previously a Trump administration adviser and later a Tether “strategic adviser”—kept a roughly one-third sta…
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