The financial arrangement surfaced in an investigation by The Wall Street Journal, which traced payments through internal documents and blockchain records. Hines held a one-third stake in Nxum alongside his father and a business partner throughout his tenure as executive director of the White House digital assets council. During this time, he successfully lobbied for a 36-month compliance window for stablecoin issuers, doubling the original 18-month proposal and providing foreign entities like Tether more time to adjust to new federal requirements.
Nxum denies Hines participated in its dealings with Tether, asserting that he stepped away from operations and received no income from the contract while in government. However, records show Hines shared political strategy with his partners via Signal while the bill was under negotiation. Following his departure from the White House in August 2025, he joined Tether to lead its U.S. stablecoin operations. The firm has since expanded its influence, with Nxum receiving further payments from a pro-crypto PAC chaired by Tether’s head of government affairs.
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