According to Wu, Tether announced plans to launch a U.S.-regulated USD stablecoin, USA₮, and appointed former White House Crypto Council Executive Director Bo Hines as the future CEO of Tether USA₮. USA₮ will comply with the latest U.S. stablecoin regulations under the GENIUS Act, be issued by Anchorage Digital, have reserves custodied by Cantor Fitzgerald, and leverage Tether's global distribution network.