- Bo Hines has been appointed as Tether’s new Strategic Advisor for Digital Assets and US Strategy
- He helped shape digital asset policy via initiatives like the GENIUS Act and advocated for a strategic Bitcoin reserve
- Tether has already reinvested billions into the US, and Hines will aid engagement with policymakers, regulators, and lawmakers to further solidify its domestic footing
Tether, the issuer of the largest stablecoin USDT, has just appointed Bo Hines (formerly Executive Director of the White House Crypto Council under President Donald Trump) as its new Strategic Advisor for Digital Assets and US Strategy.
Hines brings high-level experience, having helped shape digital asset policy via initiatives like the GENIUS Act (stablecoin regulation) and advocating for a strategic Bitcoin reserve.
His hiring fits with Tether’s goal to grow in the US at a time when new rules for stablecoins are being created, particularly under the newly approved GENIUS Act.
Paolo Ardoino, CEO of Tether, said this regarding the announcement: “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.”
Tether has already reinvested billions into the US, and Hines will aid engagement with policymakers, regulators, and lawmakers to further solidify its domestic footing.
Hines in the White House
In early August, Hines stepped down from his White House role after eight impactful months, leaving behind a legacy of pro-innovation policy. His deputy, Patrick Witt, is expected to become Trump’s next senior advisor on crypto.
During Hines’s tenure, the White House Crypto Council released key guidelines favoring decentralized digital assets and proposed policies limiting SEC jurisdiction over cryptocurrencies like Bitcoin and Ethereum.
Related: Tether’s On-Chain Footprint Hits 40% of All Fees Following Supply Surge to $157 Billion
As for Tether, the company is actively diversifying its infrastructure by integrating Lightning Network capabilities. A recent collaboration with Lightspark, utilizing its Wallet Development Kit, is helping speed up the development of more programmable and self-custodial wallets.
On the venture front, several weeks ago, Tether revealed an extensive investment portfolio worth $13.7 billion, with holdings in more than 120 firms. These investments are spread across various sectors, including AI, payments, and energy, which clearly signals its strategic ambitions of being much more than just a stablecoin company.
Related: Rate Cuts Threaten Profits of Stablecoin Giants Tether and Circle
Speaking of, Tether remains the largest stablecoin. In July, it was reported that it commands over 60% of the market with over $158 billion in circulation and serving more than 400 million users globally.
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Source: https://coinedition.com/former-crypto-council-director-bo-hines-to-advise-tether-on-us-strategy/
