Bo Hines Resigns as White House Crypto Council Director
Bo Hines, the executive director of US president Donald Trump’s White House Crypto Council, announced on Saturday that he is stepping down from his position to rejoin the private sector.
Hines, who was appointed in December 2024, expressed gratitude to the crypto community for its support and pledged to continue advocating for the industry. “Serving in President Trump’s administration and working alongside our brilliant AI & Crypto Czar, David Sacks, has been the honor of a lifetime,” Hines said.
Potential Successor and Council Achievements
While no official replacement has been named, independent crypto journalist Eleanor Terrett reported that Patrick Witt, Hines’ deputy director, is the likely successor.
In July, the White House Crypto Council released a comprehensive regulatory proposal for digital assets in the US. Despite its policy influence, critics argue the council fell short in advancing the strategic Bitcoin reserve.
Strategic Bitcoin Reserve and Budget-Neutral Approach
President Trump’s January executive order established a national Bitcoin reserve and prohibited the sale of government-held BTC. The order also required the acquisition of additional BTC through budget-neutral strategies, such as asset seizures.
In March, Hines proposed revaluing US gold reserves — officially priced at $42.22 per troy ounce despite a spot price of around $3,400 — and converting part of the gains into BTC. This, he argued, would expand the reserve without burdening the federal budget.
