Financial and Business News

Former Trump Crypto Adviser Bo Hines Joins Tether as Strategic Advisor

Tuesday, 19/08/2025 | 13:11 GMT by Tareq Sikder
  • The company plans a US institutional stablecoin launch later this year.
  • The firm’s $167B USDT reserves are managed by Cantor Fitzgerald LP.
Bo Hines

Tether Holdings SA has appointed Bo Hines, the former head of President Donald Trump’s digital assets advisory council, as a strategic advisor to help coordinate its expansion in the United States. The El Salvador-based company announced the appointment on Tuesday, stating that Hines will begin his role immediately.

Background on Hines

Hines resigned from the White House Presidential Council of Advisers for Digital Assets earlier this month. During his tenure, he led the Trump administration’s first crypto summit and oversaw the passage of the Genius Act, legislation aimed at regulating stablecoins.

An ex-college football player who ran twice unsuccessfully for Congress in North Carolina, Hines was not widely known in crypto or lobbying circles before his nomination.

US Institutional Stablecoin Plans

Tether plans to launch a stablecoin aimed at U.S. institutions later this year, according to Chief Technology Officer Paolo Ardoino. The firm’s $167 billion USDT stablecoin is backed by reserves managed by Cantor Fitzgerald LP, which was led by Howard Lutnick until his appointment as Trump’s commerce secretary earlier this year.

You may find it interesting at FinanceMagnates.com: Tourists in Rio May Soon Pay with Crypto as Bybit and Tether Expand.

Trend of Washington Engagement

The appointment reflects a broader trend of crypto firms strengthening ties with Washington. In recent months, Coinbase Global Inc. hired David Plouffe, a former senior adviser to Vice President Kamala Harris’ 2024 campaign and Barack Obama aide, as a senior adviser.

Venture capital firm Andreessen Horowitz hired Michael Reed, previously a top adviser to House Minority Whip Katherine Clark, as a government affairs partner.

Tether Price and Market Activity

Tether’s stablecoin continues to maintain its peg to the U.S. dollar. As of August 19, 2025, USDT is trading at roughly $1.00, with a 24-hour low of $0.999996 and a high of $1.001. The 24-hour trading volume is around $113 billion, showing steady activity amid broader market fluctuations.

Tether Holdings SA has appointed Bo Hines, the former head of President Donald Trump’s digital assets advisory council, as a strategic advisor to help coordinate its expansion in the United States. The El Salvador-based company announced the appointment on Tuesday, stating that Hines will begin his role immediately.

Background on Hines

Hines resigned from the White House Presidential Council of Advisers for Digital Assets earlier this month. During his tenure, he led the Trump administration’s first crypto summit and oversaw the passage of the Genius Act, legislation aimed at regulating stablecoins.

An ex-college football player who ran twice unsuccessfully for Congress in North Carolina, Hines was not widely known in crypto or lobbying circles before his nomination.

US Institutional Stablecoin Plans

Tether plans to launch a stablecoin aimed at U.S. institutions later this year, according to Chief Technology Officer Paolo Ardoino. The firm’s $167 billion USDT stablecoin is backed by reserves managed by Cantor Fitzgerald LP, which was led by Howard Lutnick until his appointment as Trump’s commerce secretary earlier this year.

You may find it interesting at FinanceMagnates.com: Tourists in Rio May Soon Pay with Crypto as Bybit and Tether Expand.

Trend of Washington Engagement

The appointment reflects a broader trend of crypto firms strengthening ties with Washington. In recent months, Coinbase Global Inc. hired David Plouffe, a former senior adviser to Vice President Kamala Harris’ 2024 campaign and Barack Obama aide, as a senior adviser.

Venture capital firm Andreessen Horowitz hired Michael Reed, previously a top adviser to House Minority Whip Katherine Clark, as a government affairs partner.

Tether Price and Market Activity

Tether’s stablecoin continues to maintain its peg to the U.S. dollar. As of August 19, 2025, USDT is trading at roughly $1.00, with a 24-hour low of $0.999996 and a high of $1.001. The 24-hour trading volume is around $113 billion, showing steady activity amid broader market fluctuations.

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About the Author: Tareq Sikder
Tareq Sikder
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A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

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