Bitcoin News Today: Bo Hines Exits White House Crypto Council Amid Unfulfilled Bitcoin Reserve Goals

President Trump’s White House Crypto Council Executive Director Bo Hines has announced his departure from the role, returning to the private sector. Hines, appointed in December 2024, confirmed his exit on August 9, 2025, in a public statement where he expressed gratitude for his time in the administration and for working alongside AI & Crypto Czar David Sacks. He credited the team with helping position the United States as a global leader in the crypto space [1].

During his eight-month tenure, Hines played a central role in shaping the council’s approach to digital asset policy, including the development of a July 2025 regulatory action plan. One of the council’s more ambitious goals—establishing a strategic Bitcoin reserve—remained unfulfilled despite being outlined in an earlier executive order. Hines proposed a method for acquiring Bitcoin without increasing public spending, suggesting the U.S. revalue its gold holdings from the current recorded price of $42.22 per troy ounce to the market price of around $3,400, which could generate funds for the reserve [3].

Hines also co-authored a significant bill with Senators Cynthia Lummis and Tim Scott, aimed at shaping federal crypto market structure. This legislative effort underscored the administration’s commitment to fostering a favorable environment for digital assets. Meanwhile, the administration continued to push pro-crypto policies, such as encouraging regulators to remove barriers to including cryptocurrencies in 401(k) plans and clarifying that certain liquid staking models are not considered securities [4].

Despite these strides, the administration has yet to find a budget-neutral method for acquiring Bitcoin that aligns with the executive order’s requirements. Hines’ departure raises questions about how the council will maintain momentum on these issues. Patrick Witt, the deputy director, is expected to step in as the new chief executive, although an official announcement has not yet been made [5].

In his statement, Hines emphasized his continued commitment to supporting the U.S. crypto ecosystem and noted that he will remain a special government advisor. His exit marks the end of a pivotal period in the development of digital asset policy under the Trump administration, during which the council worked to establish a regulatory and legislative foundation for the future of crypto in the U.S. [6].

Sources:

[1] Cryptonews (https://cryptonews.com/news/white-house-digital-assets-adviser-bo-hines-steps-down-returns-to-private-sector/)

[2] AInvest (https://www.ainvest.com/news/bitcoin-news-today-bo-hines-steps-white-house-crypto-council-8-month-tenure-2508/)

[3] Cointelegraph (https://cointelegraph.com/news/bo-hines-director-white-house-crypto-group-steps-down)

[6] AInvest (https://www.ainvest.com/news/bitcoin-news-today-bo-hines-exits-trump-crypto-council-bitcoin-reserve-challenges-2508/)