- Tether appointed former White House Crypto Council Executive Director Bo Hines as Strategic Advisor for its US affairs.
- The move comes as the issuer of USDT is looking to reestablish its strong foothold in the US market by taking advantage of its favorable regulations for stablecoins.
Today, Tether announced the appointment of Bo Hines, former Executive Director of the Crypto Council in the White House, as its Strategic Advisor for Digital Assets and US Strategy. His tenure has already taken effect, where he will join the company’s core team to directly engage and coordinate its affairs and expansion in the US.
According to the largest stablecoin issuer, Hines’ policy expertise, legal training, and private sector insights will blend well with his new position. The company also highlighted how he paved the way to advancing stablecoin initiatives to bolster innovation, cooperation and clear guidelines for the blockchain and cryptocurrency industry during his stint in the White House.
Bo Hines: An “Invaluable Asset” for Tether
Paolo Ardoino, CEO of Tether, stated that Hines’ appointment proves their company’s commitment to building a stronger presence in the US and across multiple sectors. He revealed that it would help them explore more opportunities for expansion in the country and discover more ways to invest in domestic infrastructure in addition to their $5 billion investment in the US market.
Additionally, Tether’s boss called Hines an “invaluable asset” as Tether accelerates its entry into the biggest market in the world. He believes the former official of President Donald Trump will be instrumental in forging “constructive relationships” with policymakers and industry stakeholders. This marks a major pivot from Tether’s reluctance to go all-in on the US market during former President Joe Biden’s administration, while the controversial Operation Choke Point 2.0 was in effect.
Meanwhile, Hines highlighted witnessing firsthand the transformative potential of stablecoins in modernizing payments and enabling financial inclusion during his term under the Trump administration. Moreover, he claimed that his appointment comes at a pivotal moment in the stablecoin ecosystem as Tether aims to redefine its standard for stability, compliance, and innovation to align with the US market.
The former White House official emphasized that their company’s next move would be to empower American consumers to help revolutionize the nation’s financial systems.
Hines in the White House
Hines was an athlete and public policy leader with vast expertise in law, governance, and digital assets. He finished his undergraduate degree at Yale University and earned his Juris Doctor (JD) from Wake Forest University School of Law. His relationship with Trump went all the way to his failed attempt for a Congressional seat in the 2022 election.
Trump revealed Hines as his choice to lead his digital assets council as early as December last year. His term in the White House immediately started upon the assumption of Trump in office for his second non-consecutive term.
Hines recently submitted the administration’s first Crypto Policy report and actively rallied behind the GENIUS Act and other pending crypto legislation before making the surprise announcement of his resignation. Patrick Witt, a former official at the Pentagon, is reportedly being eyed by Trump to take over Hine’s vacated position.
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