Head of Crypto Council Appointed by Trump Plans to Resign

Bo Hines, the leader of the White House Crypto Council since December 2024, is planning to step down and return to the private sector. Hines has been instrumental in implementing key policies such as dedicated crypto regulations and the passage of the GENIUS Act, a framework for stablecoins. His initiatives also included the release of a digital asset regulatory roadmap and the creation of a Bitcoin strategic reserve.

Hines has proposed revaluating US gold holdings to procure Bitcoin without affecting the federal budget. Patrick Witt, Hines' deputy and a former Pentagon official, is expected to succeed him, even though he lacks direct experience in the crypto sector. Witt's political career includes a congressional run in Georgia and service as acting director of the Office of Strategic Capital.