In brief
- Stablecoin issuer Tether has appointed Bo Hines, former crypto advisor to the Trump administration, as a strategy advisor.
- Hines left his role as President Trump’s crypto advisor last week, after helping shape the landmark GENIUS Act.
- In his new position, Hines will help Tether “shape and execute the company’s U.S. market entry.”
Stablecoin issuer Tether has appointed Bo Hines, who recently left his post as President Trump’s crypto adviser, as its strategic advisor for digital assets and U.S. strategy on Tuesday.
According to a press release issued by Tether, Hines will collaborate with the firm’s leadership team to “shape and execute the company’s U.S. market entry.” This will include “cultivating constructive relationships” with policymakers and industry stakeholders.
“Bo’s appointment demonstrates our commitment to building a strong U.S.-based presence that spans across multiple sectors,” Tether CEO Paolo Ardoino said in a statement accompanying the news. “His deep understanding of the legislative process, combined with his passion for practical blockchain adoption, makes him an invaluable asset as Tether enters the biggest market in the world.”
Hines served as the Executive Director of the President’s Council of Advisers on Digital Assets, only leaving the post last week. During his tenure, the 29-year-old helped shape the Trump administration’s stablecoin and digital asset polices, including plans to build a Bitcoin reserve.
“During my time in public service, I witnessed firsthand the transformative potential of stablecoins to modernize payments and increase financial inclusion,” Hines said in a statement. “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 U.S. market – one that will empower American consumers and help revolutionize our nation’s financial system.”
Tether’s U.S. moves
Hines’ appointment comes just a month after the passing of the GENIUS Act, a landmark piece of legislation that established a framework for issuing stablecoins in the U.S.—and one that Hines played a key role in shaping.
Before the passing of the GENIUS Act, Tether CEO Ardoino publicly pondered the idea of launching a new stablecoin purely for the U.S. market—to fit an early draft of the Act that put heavier scrutiny on foreign issuers such as Tether. However, minutes after Trump signed the act into law, Ardoino stated his intention to make Tether’s flagship stablecoin, USDT, compliant with the new piece of legislation.
“We’ll be working very, very hard to make sure we comply with the foreign issuer pathway within the GENIUS Act,” Ardoino told Decrypt. “It’s crazy that sometimes people think Tether will not comply.”
Tether remains the largest stablecoin issuer by a notable distance. Its flagship USDT has a $167 billion market capitalization, according to CoinGecko, while the second-largest stablecoin, Circle’s USDC, sits at just $68 billion.
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Source: https://decrypt.co/335777/tether-appoints-trump-administration-vet-bo-hines-as-strategic-advisor
