Bitcoin News Today: White House Crypto Council Head Bo Hines Steps Down Returns to Private Sector

Bo Hines, the executive director of the White House’s Presidential Council of Advisers for Digital Assets, has announced his departure from public office and will return to the private sector, according to multiple reports. Appointed by President Donald Trump in December 2024, Hines was a central figure in the administration’s engagement with the cryptocurrency industry, playing a key role in shaping the U.S. approach to digital assets. His exit raises questions about the continuity of the White House’s crypto strategy and whether the momentum established during his tenure will be sustained.

During his tenure, Hines worked closely with David Sacks, the White House’s AI and crypto czar, to position the United States as a global leader in the crypto space. He facilitated extensive dialogue between the administration, industry stakeholders, and Congress, meeting with over 150 representatives from the cryptocurrency sector within three months. His efforts were instrumental in the development of a new regulatory framework for stablecoins and in advancing the administration’s broader digital asset agenda.

Despite these efforts, the administration’s progress on key initiatives, such as the strategic bitcoin reserve, remained limited. In January 2025, President Trump signed an executive order to establish a national BTC reserve, but the implementation of this initiative faced constraints, with acquisitions limited to budget-neutral methods such as asset seizures. Hines proposed a bold approach—revaluing U.S. gold reserves and converting a portion into bitcoin—but this idea has yet to be realized. Critics have noted the slow pace of BTC accumulation, underscoring the challenges of translating strategic vision into concrete action.

Patrick Witt, currently serving as deputy director and acting director of the Office of Strategic Capital at the Department of Defense, is expected to succeed Hines. Witt brings experience in public service and political campaigns but has no documented background in the cryptocurrency industry. His leadership may bring a different approach to the administration’s digital asset strategy, potentially altering the direction of policy in the sector.

In a statement, Hines expressed gratitude for his role in the Trump administration and highlighted the achievements made in positioning the U.S. as the “crypto capital of the world.” He emphasized that he would continue to support the industry from the private sector. His departure marks the end of a high-profile phase in the White House’s digital asset strategy and introduces a period of uncertainty regarding the future of U.S. crypto policy.

Hines’ return to the private sector aligns with a common trend among former high-level officials seeking new opportunities beyond public service. He has previously engaged in political campaigns and has expressed a continued interest in supporting the growth of the crypto industry. His exit comes amid broader shifts in the White House’s strategic priorities and leadership.

Source: [1] White House crypto council head Bo Hines to step down, return to private sector: Report

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