Regulation· ★★★· neutral·

Ex-Trump crypto adviser held stake in Tether-linked firm while pushing stablecoin bill

  • —Hines held about one-third of Nxum while pushing the GENIUS Act
  • —Nxum received $6.3 million from transactions with Tether
  • —Conflict-of-interest questions raised; no legal breach confirmed
Why it matters: The disclosure could complicate passage of the GENIUS Act and intensify scrutiny of officials' financial ties to the crypto industry.
#USDT
Source: Bloomingbit
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