What happened?
Bo Hines, who headed President Trump’s crypto advisory council (called the Council of Advisers on Digital Assets), has resigned. He said he’s stepping down to return to the private sector but hopes to stay involved by helping with AI projects.
Why did he leave? Hines didn’t give an exact reason. He described working in the role as “the honor of a lifetime.”
What did he do while in office?
Led a working group that created a detailed plan for crypto regulation.
Helped push through the GENIUS Act, a law providing rules for stablecoins (cryptocurrencies tied to the U.S. dollar).
Promoted the idea of forming a national “Bitcoin strategic reserve” using cost-neutral means (like seizures or moving funds without new spending).
Who will take over? Hines’ deputy, Patrick Witt, is expected to replace him. Witt previously worked in the Department of Defense’s Office of Strategic Capital and will continue working with AI and crypto czar David Sacks.