TLDR
- Bo Hines stepped down as Executive Director of the White House Crypto Council to return to private sector work
- Patrick Witt, the deputy director, is reportedly expected to succeed Hines in the role
- Hines helped advance crypto policy including the GENIUS Act for stablecoin regulation and the administration’s digital asset framework
- The council published a comprehensive crypto policy report but did not deliver on Bitcoin strategic reserve expectations
- Hines advocated for budget-neutral strategies to build Bitcoin reserves, including revaluing government gold holdings
Bo Hines announced his resignation as Executive Director of the White House Crypto Council on Saturday. The former North Carolina congressional candidate said he is leaving to rejoin the private sector after serving since January 2025.
Hines thanked the crypto community for its support in his departure announcement. He described his role working alongside AI and Crypto Czar David Sacks as “the honor of a lifetime.”
Serving in President Trump’s administration and working alongside our brilliant AI & Crypto Czar @DavidSacks as Executive Director of the White House Crypto Council has been the honor of a lifetime. Together, we have positioned America as the crypto capital of the world. I’m…
— Bo Hines (@BoHines) August 9, 2025
The White House has not announced a timeline for naming a replacement. Deputy Director Patrick Witt is reportedly expected to step into the role according to crypto journalist Eleanor Terrett.
Hines was appointed by President Trump in December 2024 to lead the advisory group. The council was created to guide the administration’s digital asset policy development.
During his tenure, Hines met with industry stakeholders and coordinated discussions on stablecoin oversight. He also oversaw interagency talks on market integrity issues.
The council released a comprehensive policy framework outlining the administration’s approach to digital assets. This report detailed regulatory action plans for the crypto industry in the United States.
Policy Achievements and Challenges
Hines helped advance the GENIUS Act into law during his time in office. This legislation established a regulatory framework specifically for dollar-backed stablecoins.
The council also contributed to the administration’s broader digital asset policy initiatives. These efforts aimed to position America as a global leader in cryptocurrency adoption.
Critics noted that the council underdelivered on Bitcoin strategic reserve plans. The advisory group’s report did not include details about prospects for a national Bitcoin reserve.
President Trump signed an executive order in January establishing a Bitcoin strategic reserve. However, the order limited how the government could acquire additional Bitcoin holdings.
Budget-Neutral Bitcoin Acquisition Strategies
The executive order prohibits selling existing government Bitcoin holdings. It also directs Treasury and Commerce departments to find budget-neutral acquisition strategies.
Budget-neutral means the government can only acquire Bitcoin through asset seizures. It also allows acquisition methods that do not burden the public budget.
Hines proposed revaluing government gold holdings as one potential strategy. Current government books price gold at $42.22 per troy ounce while market prices hover around $3,400.
Converting revalued gold portions to Bitcoin could increase reserve size without budget costs. This approach would avoid creating additional taxpayer expenses.
Industry experts emphasized the importance of choosing an experienced successor. The next director will need to maintain policy momentum while navigating political requirements.
Patrick Witt’s potential appointment will require White House confirmation and formal announcement. The council’s work is expected to continue unaffected during the transition period.
