Author: Zen, PANews
Just a month after leaving the White House, 29-year-old former Executive Director of the Presidential Council of Advisers for Digital Assets Bo Hines has pushed through the revolving door again, landing a "top job" — on September 12, Tether announced the appointment of Bo Hines as the CEO of Tether USAT.
USAT, supported by the US regulatory framework and the US dollar, is the latest stablecoin project launched by the stablecoin giant Tether, aimed at providing digital alternatives to cash and traditional payment methods for businesses and institutions. This is also Tether's "new creation" in response to US regulatory requirements following the signing of the GENIUS Act targeting stablecoins in the US.
Tether has always attracted attention for its high profitability, with profits exceeding $13 billion in 2024 and an average profit of over $80 million per person, making it one of the highest revenue-generating companies globally. For Bo Hines, who has transitioned from politics to business, choosing to collaborate with Tether is indeed a fitting decision.
After amassing political and business resources, all in on cryptocurrency
On August 10, 2025, Bo Hines announced his resignation from government positions. This news quickly went viral in the cryptocurrency circle, with over fifty companies reaching out to him within days. After leaving politics, Hines fully immersed himself in the cryptocurrency industry, and just nine days later, on August 19, he announced his joining Tether as a strategic advisor for digital assets and the US market, responsible for business development in the US market, deeply engaging with policymakers and industry groups, and ultimately taking the helm of USAT.
The transition from resignation to employment was almost "seamless," which inevitably raises speculation that Tether must have extended him an "irresistible" offer, prompting his career shift.
In just over half a year, Hines leveraged the connections and influence he accumulated during his time in the White House to lay the groundwork for his future in the cryptocurrency industry.
In January 2025, shortly after the new Trump administration took office, Bo Hines was appointed as the Executive Director of the Presidential Council of Advisers for Digital Assets. The council, led by Silicon Valley venture capitalist David Sacks, aims to guide the US's overall policy on artificial intelligence and cryptocurrency.
Trump, Bo Hines (far right), and David Sacks (far left)
The announcement from the White House indicated that the Trump administration hoped to build the US into a global "crypto capital" and ensure that the digital financial technology industry "is not hindered by cumbersome regulations." Hines was assigned the role of "liaison between the White House and the cryptocurrency industry," and he publicly stated multiple times that he aimed to ensure the cryptocurrency industry "has all the necessary conditions for prosperous development," opposing regulatory crackdowns on the industry.
In an interview with Fox News, Hines candidly stated that under the Biden administration, the cryptocurrency industry had become a victim of "legal battles" and unfair regulations. He emphasized that the US must not fall behind in technological innovation and "must lead the technological advancement of traditional financial markets."
During this period, Hines became one of the key figures advocating for stablecoin and digital asset legislation. In June 2025, the US Senate overwhelmingly passed a stablecoin regulatory bill (known as the GENIUS Act), marking an important milestone in establishing a federal regulatory framework for crypto tokens pegged to the US dollar. The bill requires stablecoin issuers to maintain full reserves with liquid assets such as US dollars or short-term government bonds and to disclose their reserve composition to the public monthly.
Hines publicly stated that the White House hoped to push for the bill's passage before August. After the legislation was passed, he mentioned on several occasions that he had witnessed the tremendous potential of stablecoins to "modernize payments and promote financial inclusion" in the modern payment system.
In promoting these policies, Hines received support from industry and government figures. Industry veteran and White House "AI and Crypto Czar" David Sacks also publicly praised his work. Regarding Hines's joining, Tether CEO Paolo Ardoino told the media that Hines "has a deep understanding of the legislative process" and will be a valuable asset for Tether's entry into the US market.
USAT is Tether's initiative to shift from global expansion to compliance within the US, collaborating with Anchorage Digital (the first federally chartered crypto bank in the US) and Cantor Fitzgerald to ensure that USAT's issuance and reserve management comply with the GENIUS Act. Notably, Cantor is a major broker for US Treasury bonds and a long-term partner for Tether's purchases of US Treasury bonds, becoming a shareholder of Tether in 2024. Its CEO Howard Lutnick also joined the Trump administration this year as Secretary of Commerce. Prior to this, in response to EU regulations, Tether had only entered the EU stablecoin market indirectly by investing in several stablecoin companies.
Bo Hines before his political ambitions: A football player and Bitcoin
Bo Hines was born in Charlotte, North Carolina, and attended Charlotte Christian School. Hines was known for his athletic prowess and was recruited by North Carolina State University to become a college football player, playing for the NC State Wolfpack.
In his freshman season, Hines led the team with 616 receiving yards. His outstanding performance earned him spots on the All-American Freshman Team, the Atlantic Coast Conference (ACC) Freshman All-Star Team, and the ACC Academic All-Star Team.
In 2014, Hines played for North Carolina State University (number 82)
While enjoying success on the field, Hines's life first intersected with cryptocurrency: during the 2014 St. Petersburg Bowl, sponsored by payment company BitPay, he saw a banner reading "Bitcoin Accepted Here," which introduced the then 19-year-old Hines to Bitcoin for the first time. After the game, he used part of his living expenses to buy his first batch of Bitcoin, becoming one of the earliest college athletes to enter this field.
In 2015, driven by the ideal of "studying politics and pursuing public service," Hines decided to transfer from NC State to Yale University. At Yale, he majored in political science while balancing academics and athletics, also serving as co-chair of the student-athlete committee. He launched a podcast called "Bo Knows," discussing hot topics in American politics, which made him quite well-known among his peers. Outside of academics, he continuously accumulated political experience, interning in the offices of Senator Mike Rounds and Indiana Governor Eric Holcomb.
Entering the Trump administration due to cryptocurrency
During the final stretch of his athletic career at Yale, Hines suffered two shoulder injuries that sidelined him for the season, forcing him to end his football career prematurely. After leaving the field, he fully redirected his focus to politics and law. After graduating from Yale, he entered Wake Forest University School of Law to study law. Here, his research focus gradually narrowed to "the law and policy of crypto assets," including issues related to how the Commodity Futures Trading Commission (CFTC) regulates cryptocurrencies. This educational experience and practical exploration laid the foundation for his later role as a government crypto advisor.
Hines's former professor Raina Haque noted that Hines showed interest in the cryptocurrency field but was not a die-hard supporter of Bitcoin. "He wasn't initially a crypto enthusiast; it seemed like he didn't view cryptocurrency as the solution to all the world's problems."
After entering the political arena, Hines attempted to run for Congress twice but was unsuccessful. In 2022, he won the Republican primary but lost in the general election to Democratic candidate Wiley Nickel. Notably, his campaign funding came from a trust fund and a political action committee established by former executives of the cryptocurrency company FTX. In 2023, Hines ran again but did not receive Trump's endorsement and finished fourth in the primary.
The electoral defeats did not dampen his enthusiasm for public service; instead, they gradually shifted his focus to the digital asset field he had long been interested in. After the political campaign, he operated a "anti-woke" themed company and participated in designing a Trump-themed memecoin. Like the token personally released by Trump this year, the memecoin Hines launched also saw a surge followed by a crash.
With the experience of two electoral campaigns and his studies on crypto regulation in law school, Hines realized he could make a significant impact in the policy-making area where government and the cryptocurrency industry intersect. Dan Spuller, Senior Director of Industry Affairs at the Blockchain Association, also stated that Hines is one of the few who can balance both cryptocurrency and MAGA.
And the rest of the story, we already know.
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