The former White House crypto adviser joined Tether in April, but will be advancing to CEO of its planned “US-regulated, dollar-backed stablecoin.”
Breaking news
Tether has announced a new dollar-backed stablecoin, and former White House crypto advisor Bo Hines will be stepping up as CEO of the company.
The new stablecoin will be consistent with the reserve requirements and compliance standards of the , and will use Tether’s Hadron real-world asset tokenization platform, according to a Friday .
Stablecoins recently crossed the $270 billion milestone, according to . Tether CEO Paolo Ardoino said:
“Tether is already one of the largest holders of US Treasuries because we believe deeply in the enduring power of the dollar. USA₮ is our commitment to ensuring that the dollar not only remains dominant in the digital age, but thrives.”
Stablecoins have become a geostrategic policy issue for the Trump administration in the United States and is quickly becoming a focus in other countries like China as well.
This is a developing story, and further information will be added as it becomes available.
