Nxum, a company co-owned by former Trump crypto adviser Bo Hines, received $6.3 million from a deal linked to Tether while Hines was working on the U.S. stablecoin law known as the GENIUS Act, according to WSJ, which cited internal documents, correspondence and payment records. FinFly.news relays the report.
According to WSJ, a few weeks after Hines began working on stablecoin legislation, Nxum started building cooperation with Tether, the world's largest stablecoin issuer.
In May 2025, Tether entered into an agreement with marketing firm Notorious, linked to entrepreneur Peter Vinser. It provided for monthly payments of $415,000 for at least two years. According to documents and blockchain records, part of the funds was transferred to Nxum.
The first payment of $2.49 million in USDT arrived on May 11, 2025, via Bitfinex, an exchange owned by Tether's parent company. Wallets under Nxum's control then received two more transfers of $2.49 million each — in December 2025 and April 2026, after Hines left the White House.
