Hines has been named the stablecoin issuer’s strategic advisor for digital assets and U.S. strategy, Tether announced Tuesday (Aug. 19). This follows his tenure as executive director of the White House Crypto Council under President Donald Trump.
“Hines brings a unique blend of policy expertise, legal training, and private sector insights,” the company said in a news release. “While at the White House, he was instrumental in advancing initiatives to foster innovation in digital assets, develop clear guardrails for stablecoin issuers, and build collaborative relationships between government and the blockchain industry. He also led interagency working groups focused on responsible innovation, consumer protection, and the safe integration of emerging technologies into the U.S. financial system.”
In this new role, Hines will work with Tether leadership to help plan and execute the company’s entry into the U.S. market, and work to establish relationships with policymakers and crypto industry stakeholders, the release added.
“During my time in public service, I witnessed firsthand the transformative potential of stablecoins to modernize payments and increase financial inclusion,” said Hines, adding that Tether was preparing to “deliver an ecosystem of products that will set the standard for stability, compliance, and innovation in the U.S. market.”
El Salvador-based Tether, whose USDT stablecoin is the most traded cryptocurrency by volume around the world, was banned from operating in New York and paid nearly $60 million to the state and the U.S. Commodity Futures Trading Commission in 2021 to settle their allegations that the company made false and misleading claims.
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Tether CEO Paolo Ardoino said last month the El Salvador company wanted to return to America, telling Bloomberg Television in an interview that Tether is “well in progress of establishing our U.S. domestic strategy.”
Hines, who left his Trump administration role earlier this month, is a former college football player who ran two unsuccessful campaigns for Congress in North Carolina, winning Trump’s endorsement on his first go-around in 2022.
He had limited crypto experience before joining the White House earlier this year. A report by the South China Morning Post noted his role as CEO of the “pro-America, Gen Z, anti-woke” media company Today is America.
