Tether Holdings SA has appointed Bo Hines, the former head
of President Donald Trump’s digital assets advisory council, as a strategic
advisor to help coordinate its expansion in the United States. The El
Salvador-based company announced the appointment on Tuesday, stating that Hines
will begin his role immediately.
Background on Hines
Hines resigned from the White House Presidential Council of
Advisers for Digital Assets earlier this month. During his tenure, he led the
Trump administration’s first crypto summit and oversaw the passage of the
Genius Act, legislation aimed at regulating stablecoins.
An ex-college football
player who ran twice unsuccessfully for Congress in North Carolina, Hines was
not widely known in crypto or lobbying circles before his nomination.
Thrilled to join @Tether_to! Huge thanks to @paoloardoino & the team for the warm welcome. Excited to help build an ecosystem of digital asset products that set the standard for compliance & innovation—empowering U.S. consumers and reshaping our financial system. The best is yet… https://t.co/DloARijWkh
— Bo Hines (@BoHines) August 19, 2025
US Institutional Stablecoin Plans
Tether plans to launch a stablecoin aimed at U.S.
institutions later this year, according to Chief Technology Officer Paolo
Ardoino. The firm’s $167 billion USDT stablecoin is backed by reserves managed
by Cantor Fitzgerald LP, which was led by Howard Lutnick until his appointment
as Trump’s commerce secretary earlier this year.
You may find it interesting at FinanceMagnates.com: Tourists
in Rio May Soon Pay with Crypto as Bybit and Tether Expand.
Trend of Washington Engagement
The appointment reflects a broader trend of crypto firms
strengthening ties with Washington. In recent months, Coinbase Global Inc.
hired David Plouffe, a former senior adviser to Vice President Kamala Harris’
2024 campaign and Barack Obama aide, as a senior adviser.
Venture capital firm
Andreessen Horowitz hired Michael Reed, previously a top adviser to House
Minority Whip Katherine Clark, as a government affairs partner.
Tether Price and Market Activity
Tether’s stablecoin continues to maintain its peg to the
U.S. dollar. As of August 19, 2025, USDT is trading at roughly $1.00, with a
24-hour low of $0.999996 and a high of $1.001. The 24-hour trading volume is
around $113 billion, showing steady activity amid broader market fluctuations.
This article was written by Tareq Sikder at www.financemagnates.com.
