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Tether's U.S. CEO Bo Hines was partners with a convicted felon (bribes, cocaine, prostitutes, and NY State retirement funds) operating under an alias. Getting easier to put all the pieces together after the great @wsj reporting today (see quoted post below). @BoHines is CEO of @Tether USAT. Before that he ran Trump's White House crypto council, where he shepherded the GENIUS Act through Congress. He left the White House August 9, 2025. Tether hired him ten days later. Hines co-founded NXUM Capital. One week before the 2024 election, NXUM donated $1 million in billboard ads to Trump's MAGA Inc. Super PAC. Hines told Fortune he oversaw all of NXUM's political work. Trump gave him the White House crypto job two months later. One of NXUM's listed partners was "Nav Singh," Managing Partner and CIO. The Wall Street Journal article confirms that “Nav Singh” is actually Navnoor Singh Kang, a convicted felon. Biographical and photographic evidence that Nav Singh is Navnoor Singh Kang The NXUM biography for Nav Singh said he worked at Goldman Sachs, PIMCO, and Guggenheim Partners in fixed income, with an economics degree from Columbia. A 2015 Pensions & Investments conference profile lists a speaker named Navnoor Kang: "co-head of investment grade corporate credit at Guggenheim Partners… Portfolio Management Associate at PIMCO and Goldman Sachs. B.A. in Economics from Columbia University, 2003." If an identical education and work history was not enough, a Backstage acting profile lists the full name Navnoor Singh Kang with a headshot that matches the man shown on NXUM's website (before NXUM deleted it). In fact, the NXUM profile headshot is taken by a photographer who specializes in actor headshots. Navnoor Kang served jail time for taking bribes in cocaine and prostitutes to steer billions in pension funds, and was permanently enjoined from deceiving anyone in relation to a securities transaction. In 2016, Kang was indicted by the U.S. Attorney for the Southern District of New York. He had been Director of Fixed Income at the $207 billion New York State pension fund. Brokers lavished him with cocaine, crack cocaine, prostitutes, a $17,400 Panerai watch, a $4,200 Hermès bracelet for a girlfriend, VIP concert tickets, and luxury ski vacations. In return, he steered over $2 billion in public pension money to their firms. He pleaded guilty to securities fraud and honest services wire fraud and was sentenced to 21 months in federal prison. Here's WSJ coverage at the time: https://t.co/3D2ZOEPsSA In 2019, the SEC permanently enjoined him from violating antifraud provisions under Section 10(b) and Rule 10b-5. If he was operating under a false alias that concealed his conviction from NXUM's investors (unclear whether NXUM had ever had any investors, but Singh/Kang carried the Chief Investment Officer title there), that may itself have been a new violation of the order. NXUM donated $1M to Trump. Trump appointed Hines. Hines was deeply involved with the GENIUS act, which now benefits Tether. Then Tether hired Hines ten days after he left the White House. Now Hines' NXUM is a key partner of the $100M crypto PAC funded primarily by @howardlutnick's Cantor Fitzgerald and Tether, rumored to be spending heavily in DC. Unanswered questions remain. What is Bo’s connection to Singh/Kang, and why did no one at the White House or Tether appear to balk at Hines’ partner being a convicted securities fraudster operating under an alias? What’s the Nav Singh to Bo Hines connection and is it appropriate for the CEO of a major USA-domiciled stablecoin? Does Tether, or any Tether subsidiary, have a financial relationship with NXUM Capital or with Navnoor Singh Kang (under any name)? Did Kang/Singh play any role in connecting Hines to Tether, or in NXUM’s decision to donate $1 million to MAGA Inc? Was Kang’s identity known to any members of Congress who worked with Hines on the GENIUS Act? Gonna be fun to watch this one unfold.

CorySwan ↗