- Bo Hines steps down as head of the White House Crypto Council after less than a year in the role.
- Hines played a pivotal role in pushing the GENIUS Act and advancing stablecoin regulation.
- Reports suggest that Patrick Witt, the Council’s deputy director, is the likely successor.
Bo Hines, the Executive Director of the White House Presidential Council of Advisers on Digital Assets, has announced his departure from the position. While pledging to remain a supportive voice for the crypto industry, Hines indicated that he would be returning to the private sector.
He called his time in government “the honor of a lifetime,” and went on to express gratitude towards the crypto community and his colleague, particularly AI & Crypto Czar David Sacks, for their collaboration.
Hines’ contributions & achievements
During his tenure, which began in December 2024, Hines spearheaded significant policy efforts. He could be credited for helping secure the passage of the GENIUS Act, establishing a regulatory framework for dollar-backed stablecoins. He also led the Council’s much-awaited release of a comprehensive regulatory action plan for digital assets in July.
Furthermore, Hines championed the creation of a strategic Bitcoin reserve, advocating budget-neutral acquisition strategies like revaluing U.S. gold holdings to fund new BTC purchases without increasing public expenditure.
Background before appointment
Before stepping into the crypto policy arena, Hines mostly worked in the private sector, also having served as a partner at a growth equity firm. He played football at NC State and Yale while in college and went on to pursue law at Wake Forest. It is here that Hines studied crypto regulations. As for his public life, he ran twice unsuccessfully for Congress in North Carolina.
David Sacks publicly commended Hines’s contributions, adding that he “looks forward to being able to draw on his expertise and advice”. After Hines declared his resignation on August 9, reports emerged that Patrick Witt, the Council’s deputy director, is likely to be Hines’ successor. Although Witt has no direct crypto background, he comes with a background in defense tech and Pentagon leadership.
