Bitcoin News Today: Bo Hines Exits Trump Crypto Council Amid Bitcoin Reserve Challenges

Bo Hines, the executive director of President Donald Trump’s White House Crypto Council, has stepped down from his role to return to the private sector. Hines, appointed in December 2024, confirmed his departure on August 9, 2025, expressing gratitude for the opportunity to work alongside AI and Crypto Czar David Sacks in advancing the administration’s digital assets agenda. During his tenure, the council played a key role in shaping US crypto policy, including the release of a July regulatory action plan for digital assets. However, it fell short of its strategic goal of building a national Bitcoin reserve [1].

A successor has not yet been officially named, though independent reporter Eleanor Terrett has suggested that Patrick Witt, the council’s deputy director, is the leading candidate to take over [1].

The council faced challenges in executing its Bitcoin reserve initiative, which aimed to establish a stockpile of the cryptocurrency using budget-neutral methods. Hines proposed leveraging the revaluation of the US gold holdings—currently valued at $42.22 per troy ounce—as a means to fund the acquisition of Bitcoin without increasing public spending. He suggested adjusting the valuation closer to the current market price of around $3,400 per troy ounce, with a portion of the gains converted into Bitcoin [1].

In January 2025, President Trump signed an executive order establishing both a national crypto stockpile and a strategic Bitcoin reserve. The order mandates that the government cannot sell its BTC holdings and restricts the acquisition of new Bitcoin to budget-neutral methods, such as asset seizures or other non-fiscal avenues [1].

As Hines transitions to the private sector, he stated his intention to continue supporting the growth of the US-based crypto ecosystem. “As I return to the private sector, I look forward to continuing my support for the crypto ecosystem as it thrives here in the United States,” he wrote in a public message [1].

The Trump administration has continued to push a pro-crypto agenda, including an executive order aimed at removing regulatory barriers that prevent 401(k) plans from incorporating cryptocurrencies. If implemented, this move could allow millions of Americans to invest their retirement savings in Bitcoin and other digital assets through regulated channels. Additionally, the administration nominated Stephen Miran, a digital asset advocate, to serve on the Federal Reserve Board of Governors, signaling a consistent approach to supporting crypto innovation [1].

In parallel, the SEC has taken steps to clarify regulatory treatment of certain crypto activities, including liquid staking models, by stating that receipt tokens such as stETH do not qualify as securities. SEC Chair Paul Atkins emphasized the agency’s commitment to fostering innovation and adopting a more proactive regulatory approach rather than enforcement-driven policies [1].

The recent developments have coincided with a rise in Bitcoin prices, which climbed back above $117,000, indicating that policy momentum is positively influencing market sentiment [1].

Sources:

[1] Cryptonews - White House Digital Assets Adviser Bo Hines Steps Down, Returns to Private Sector

https://cryptonews.com/news/white-house-digital-assets-adviser-bo-hines-steps-down-returns-to-private-sector/