Hines said he is leaving the crypto advisory group to rejoin the private sector but will continue to support the cryptocurrency industry.
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Bo Hines, the executive director of US president Donald Trump’s White House Crypto Council, announced he is stepping down on Saturday.
Hines, who was to lead the advisory group in December 2024, said he is stepping down to rejoin the private sector and thanked the crypto community for its “unwavering” support. He on Saturday:
“Serving in President Trump’s administration and working alongside our brilliant AI & Crypto Czar, David Sacks, as Executive Director of the White House Crypto Council, has been the honor of a lifetime. Together, we have positioned America as the crypto capital of the world.”
Although a successor has not yet been named, independent crypto reporter Eleanor Terrett that Hines’ deputy director, Patrick Witt, will likely be appointed to the position.
The White House Crypto Council published a comprehensive proposing a for digital assets in the US in July. Although the advisory group has been instrumental in guiding policy efforts, critics say the council .
Related:
President Trump signed an executive order and a national crypto stockpile in January. However, the order limited how the government could acquire additional BTC.
The executive prohibits the federal government from selling any of the US government’s accumulated BTC and directs the Treasury Department and the Commerce Department to find “budget-neutral” strategies to accumulate more of the digital currency.
mean that the only way the US government can acquire new BTC for the reserve is through asset seizures or ways that do not create additional burdens on the US public budget.
In March, Hines suggested that the US government should , which are at $42.22 per troy ounce, while gold trades at about $3,400 per ounce on the spot market.
A portion of the revalued gold could then be converted to BTC, increasing the size of the national Bitcoin reserve, without creating a budget expense.
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