TL;DR
- Tether appointed Bo Hines, former head of Trump’s presidential crypto council, as strategic advisor for its U.S. expansion.
- Hines played a role in the first White House meeting on cryptocurrencies and in drafting the Genius Act, the law that established an initial framework for regulating stablecoins.
- Tether plans to launch a stablecoin aimed at U.S. institutions before the end of the year and has already invested about $5 billion into the domestic economy.
Tether brought on Bo Hines as strategic advisor to oversee its entry into the U.S. market. Until this month, Hines led the Presidential Advisory Council on Digital Assets under Donald Trump’s administration.
He participated in the first official White House event focused on cryptocurrencies and in drafting the Genius Act, which laid out the first regulatory framework for stablecoins. His appointment takes effect immediately and places him within Tether’s core team with the task of shaping the company’s U.S. strategy.
Tether to Launch a Stablecoin for Financial Institutions
Tether’s plan includes the release of a stablecoin designed for U.S. financial institutions before the end of the year. Paolo Ardoino, the company’s CEO, explained that Hines’ appointment is meant to strengthen a local presence that goes beyond digital assets and extends into infrastructure investments within the country. The firm has already funneled nearly $5 billion into the U.S. economy through its investment division, underscoring its clear interest in expanding activity in the market.
Although Hines was not a well-known figure in crypto circles, in Washington he worked closely with lawmakers and federal agencies to draft rules that supported technological innovation while maintaining consumer protection. His background combines legal training, public sector experience, and a brief career in the private sector. Born in North Carolina, he studied at Yale and earned a law degree from Wake Forest after playing college football at NC State and Yale.
The Intersection of Politics and Crypto
Several crypto firms have turned to advisors with political experience to gain influence in Washington. Coinbase recently hired David Plouffe, who worked on Kamala Harris’s campaign and in Barack Obama’s administration, while Andreessen Horowitz added Michael Reed, a former adviser to Congresswoman Katherine Clark.
In Tether’s case, its ties to the current administration are also reflected in the management of its reserves by Cantor Fitzgerald, which until recently was led by Howard Lutnick, now serving as Secretary of Commerce.
With Hines, Tether seeks to build closer ties with U.S. regulators and financial institutions. The institutional acceptance of stablecoins and their integration into the nation’s payment systems will shape the sector’s trajectory in the coming years
