The messages also showed Hines urging partners to pressure lawmakers and portray Republican opponents of the bill as undermining the president. A Nxum representative said Hines had recused himself from the firm’s business, did not know about or work on its Tether arrangement while in government, and received no Tether-derived funds during that period. The reviewed reporting did not accuse Hines of a crime.
The law establishes requirements for payment-stablecoin issuers, including rules involving reserves, oversight and permitted issuers.
Hines left the White House in August 2025 and joined Tether as a strategic adviser. He was named chief executive of Tether’s U.S. Stablecoin operation the following month, as the company announced plans for a dollar-backed token designed for the American market and aligned with the new law’s requirements.
The payment timeline places money moving to a company in which Hines held an ownership stake while he was helping advance legislation directly relevant to Tether’s business. The overlap has intensified scrutiny of the movement of former government officials into crypto companies and of financial ties surrounding Trump’s broader digital-asset agenda.