Cryptocurrency firm Tether appoints ex-White House crypto chief Bo Hines as strategic advisor
In a move that strengthens its commitment to the American market, Tether, the world's largest stablecoin issuer, has appointed Bo Hines as its Strategic Advisor for Digital Assets and U.S. Strategy. Hines, who previously served as the executive director of the White House Crypto Council, will begin his role at Tether immediately, following his resignation from his government position last week.
Hines' role at Tether includes leading efforts to navigate the evolving regulatory landscape in the U.S., as well as to strengthen the company's presence in the U.S. market and potential further investments in domestic infrastructure. His policy expertise and government connections could prove valuable as Tether navigates the complex regulatory landscape under the crypto-friendly Trump administration.
One of Hines' key achievements during his tenure at the White House was championing the GENIUS Act, landmark stablecoin legislation signed into law in July. He also played a key role in advancing crypto policy initiatives, including leading the working group that produced a 166-page digital asset policy report.
Tether's USDT token commands over 70% market share, making it the dominant player in the stablecoin market. The company has been working to strengthen its compliance framework and build relationships with U.S. policymakers. This appointment is a significant coup for Tether, as it demonstrates their commitment to building a strong U.S.-based presence.
Paolo Ardoino, Tether's CEO, stated that Hines' appointment demonstrates their commitment to the American market. "Bo's extensive experience in the crypto space and his deep understanding of the regulatory landscape will be invaluable as we continue to grow our business in the U.S.," Ardoino said.
In addition to its efforts to strengthen its presence in the U.S., Tether's investment arm has already committed nearly $5 billion to the U.S. ecosystem. Hines believes stablecoins have the potential to modernize payments and increase financial inclusion. His appointment is expected to reinforce Tether's commitment to these goals.
Tether announced Hines' appointment on Tuesday, and his departure from government was an opportunity for him to contribute to the private sector's role in digital asset innovation. His appointment by Tether is considered a significant coup for the company, as it positions them to capitalise on the growing interest in stablecoins and digital assets in the U.S. market.
