Tether paid $6.3 million to Nxum during stablecoin law negotiations, report claims

A Wall Street Journal investigation has revealed that Nxum, a small consulting firm co-owned by Bo Hines, received approximately $6.3 million through a marketing arrangement with Tether as the GENIUS Act, a key stablecoin law, passed through Congress. According to internal documents, messages, and payment records reviewed by the Journal, the first payment was made in May 2025, several weeks before the GENIUS Act became law. The records indicate that Tether channeled its payments through Notorious, a marketing agency managed by Peter Vincer, rather than signing a contract with Nxum directly.

Source: CoinTurk News