Tether, the world’s largest stablecoin issuer, has appointed former White House crypto adviser Hines to run its U.S. operations.
Hines left the Trump administration on Aug. 9 after less than seven months to pursue a private sector role and has now chosen Tether.
A move to the private sector
Hines entered the administration in January as executive director of the President’s Council of Advisers on Digital Assets. His task was to help shape President Trump’s crypto agenda.
In that role, he worked with lawmakers, regulators and industry figures to secure support for new legislation. Last month, Congress passed a stablecoin bill, a key part of that agenda.
Soon after the passage, Hines said he would step down. He had multiple offers from crypto firms but narrowed them down to a handful before deciding on Tether. His choice comes just weeks after Circle, Tether’s main rival, went public.
Why does it matter?
By hiring Hines, Tether gains a direct link to the administration and Washington’s policymaking circles.
His appointment could help the company at a time when the stablecoin market is growing more competitive and scrutiny is increasing. Hines said in a statement that he was excited to join Tether “at such a pivotal moment.”
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From sports to politics to crypto
Hines is a former Yale wide receiver and twice ran for Congress in North Carolina. Before his White House role, he was little known outside political circles. His months in Washington gave him a front-row seat to the new regulatory framework for crypto.
He worked closely with David Sacks, the administration’s AI and crypto lead, as they drafted the Genius Act, a bill focused on stablecoin oversight. That work also produced a detailed White House report on the government’s approach to crypto policy.
Hines later said the administration had succeeded in its goal of making the U.S. the global hub for digital assets.
Tether’s challenges and political ties
The appointment does not erase the scrutiny Tether faces. The company has long been criticised for opacity around its reserves and has settled cases with regulators.
In 2021, it reached a deal with the New York Attorney General’s office, and reports have linked it to a Justice Department inquiry. Tether has denied wrongdoing and said it works with U.S. authorities to fight illegal activity.
Despite those hurdles, Tether has built close ties to figures in the Trump administration. The company relies on Cantor Fitzgerald as custodian for the Treasuries that back USDT.
Howard Lutnick, former chief executive of Cantor Fitzgerald, now serves as Trump’s commerce secretary. Tether has also put $775 million into Rumble, a video streaming firm linked to Trump Media & Technology Group. Rumble has hired Jeff Miller, a Republican lobbyist, to build its political connections.
A deeper foothold in the U.S.
Tether has long operated offshore, but the new regulatory framework in the U.S. has pushed it to secure a stronger presence.
Naming Hines to lead its American arm signals that it is ready to engage directly in the market while navigating stricter oversight. His background in policymaking and his connections could help Tether manage both challenges and opportunities.