James Richardson
Bo Hines, former Executive Director of the White House Crypto Council under President Donald Trump, has been named CEO of Tether’s new U.S. unit, the company announced on Friday.
Hines previously served as a strategic advisor to the world’s largest stablecoin issuer. In his new role, he will oversee the rollout of USAT, Tether’s upcoming U.S.-regulated, dollar-backed stablecoin.
The new token, USAT, is designed as a regulated complement to USDT, which currently has more than $169 billion in circulation. It will be issued through Anchorage Digital, with Cantor Fitzgerald also contributing to the project’s infrastructure.
According to Hines, Tether is aiming to launch USAT by the end of 2025. In a company press release, Tether stated that introducing both the new token and its U.S. leadership team simultaneously demonstrates its commitment to transparency, strong governance, and American financial leadership.
Tether’s Market Position and Profitability
At a press briefing, Tether Group CEO Paolo Ardoino clarified that the company has no plans for a public listing at this stage.
Tether already stands among the largest U.S. Treasury bondholders, ranking 18th globally. The firm generated $13 billion in profits in 2024 and expects similar results in 2025.
U.S. Operations to Be Based in North Carolina
The USAT team will operate out of Charlotte, North Carolina, Hines’ home state. Ardoino emphasized that while crypto exchanges remain important, Tether’s focus is on direct access for users by reducing intermediaries.
He also extended an invitation to U.S. financial institutions to collaborate with the new division in expanding the stablecoin’s adoption nationwide.
