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7h ago

Tether Hires Ex-White House Crypto Aide Bo Hines to Steer U.S. Strategy

The hire positions Tether to navigate the new GENIUS Act framework for stablecoins during its planned U.S. market entry.

Former top White House crypto official Bo Hines is joining Tether.
Figurines with computers and smartphones are seen in front of Tether logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
Tether has appointed Bo Hines, former Executive Director of the White House Crypto Council under President Donald Trump, as Strategic Advisor for Digital Assets and US Strategy, according to a Tuesday press release. Hines will directly engage and coordinate Tether's US strategy and expansion as part of the Group's core team. During his tenure at the White House, he led initiatives to advance digital asset innovation, develop stablecoin issuer guidelines, and strengthen relationships between the government and the blockchain industry. "Bo's appointment demonstrates our commitment to building a strong US-based presence that spans across multiple sectors, starting with digital assets and expanding to new opportunities, including a deep focus on potential further investments in domestic infrastructure," said Paolo Ardoino, CEO of Tether. In his new role, Hines will work with Tether's leadership to shape the company's US market entry and develop relationships with policymakers and industry stakeholders. Tether Investments has already reinvested almost $5 billion in the US ecosystem. "During my time in public service, I witnessed firsthand the transformative potential of stablecoins to modernize payments and increase financial inclusion," said Bo Hines. "I'm thrilled to join Tether at such a pivotal moment, helping to deliver an ecosystem of products that will set the standard for stability, compliance, and innovation in the US market - one that will empower American consumers and help revolutionize our nation's financial system." Hines, a North Carolina native, holds an undergraduate degree from Yale University and a J.D. from Wake Forest University School of Law. He played collegiate football at NC State and Yale before transitioning to public service. This is a developing story.
Bo Hines

Overview

  • Bo Hines was appointed Strategic Advisor for Digital Assets and U.S. Strategy and will lead Tether’s market entry, policymaker outreach, and industry engagement.
  • Hines recently led the White House crypto council under President Trump and helped shape the GENIUS Act, which set federal rules for fiat-backed stablecoins.
  • Tether says it will pursue compliance with the new law for USDT and has publicly floated the possibility of a U.S.-specific stablecoin, which remains under consideration.
  • USDT’s market value is about $167 billion, and Tether reports nearly $5 billion reinvested in the U.S. along with substantial U.S. Treasury holdings backing its reserves.
  • The move underscores Tether’s growing political ties and renews attention to its regulatory history, including a 2021 New York Attorney General settlement and reported DOJ scrutiny, which the company disputes.