Bo Hines, Executive Director of the White House Crypto Council, has announced his decision to leave this position to return to the private sector.
Bo Hines' Departure Announcement
Bo Hines confirmed on platform X that he plans to step down as Executive Director of the White House Crypto Council. In his statement, he expressed pride in serving the Trump administration and working alongside AI & Crypto Czar David Sacks. Hines stated, 'Together, we have positioned America as the crypto capital of the world. I’m deeply grateful to the industry for its unwavering support — I love this community and all we’ve built together.' Hines hinted that he intends to retain an advisory role as a special government employee.
Patrick Witt Takes Over
His deputy, Patrick Witt, is expected to be appointed the new Executive Director of the Council. Witt is currently the deputy director and acting director of the Office of Strategic Capital at the Department of Defense. His appointment is anticipated to facilitate ongoing engagement with the crypto industry.
CFTC Head Also Stepping Down
Hines's departure coincides with news that Caroline Pham, the current head of the CFTC, also plans to leave her position once Brian Quintenz is confirmed as Chair. She confirmed this during her speech at the International Swaps and Derivatives Association Annual Meeting in Amsterdam.
The departures of Bo Hines and other high-profile officials from the Trump administration signify a return of some to the private sector, which may influence the dynamics of the crypto industry in the United States.
