In a publication from X, journalist Eleanor Terrett revealed that the Executive Director of the White House Cryptocurrency Council will leave his position to return to the private sector. She also stated that he will remain as a special government employee to collaborate on AI initiatives alongside David Sacks, the Crypto-AI and Crypto-Zar of the White House.
Bo Hines worked as a partner at a growth capital firm before assuming his current role under the Trump administration. Terrett did not mention what position he will hold in the private sector once he leaves his post at the White House. Meanwhile, Executive Deputy Patrick Witt will take over as executive director.
It is noteworthy that his departure comes after the release of the White House report on cryptocurrency policies. The Executive Director, along with other members of the Working Group, had made recommendations on the measures that regulators and Congress should take to promote the cryptocurrency industry.
These recommendations focused on the bill regarding the cryptocurrency market structure, token classification, tax rules, and banking regulation for cryptocurrency companies. It is important to note that the report did not mention specific details about the Strategic Bitcoin Reserve.
However, Bo Hines confirmed in an interview that the U.S. government is actively working to establish the Bitcoin Reserve. The government plans to use its 198,022 BTC in its wallet to create it.
Bo Hines issued a statement following his departure from the White House Cryptocurrency Council. He stated that serving in President Trump's administration and working alongside David Sacks has been an unforgettable honor.
