President Donald Trump has officially announced the lineup for his new Presidential Council of Advisers for Digital Assets, known as the 'Crypto Council.' Leading the council is Bo Hines, a Yale graduate and former congressional candidate, who will serve as the Executive Director.
Bo Hines Appointment
Bo Hines will serve as the Executive Director of the Crypto Council. Despite his lack of public crypto credentials, Trump's confidence in Hines stems from his potential to deliver results in this key role. Crypto Czar David Sacks will work closely with Bo Hines to foster innovation and growth in the digital assets space. 'Bo will work with David to foster innovation and growth in the digital assets space,' Trump said.
Tech Team
The council lineup includes a star-studded team: Michael J.K. Kratsios has been appointed as the Director of the White House Office of Science and Technology Policy and will serve as an Assistant to the President for Science and Technology. Kratsios is a Princeton graduate and Stanford Fellow, having previously served as the United States Chief Technology Officer. Dr. Lynne Parker will join as Executive Director of the Presidential Council of Advisors for Science and Technology. She previously led the National Artificial Intelligence Initiative Office.
Crypto Market Reaction
The announcement comes during a volatile time for the crypto market: Bitcoin has dropped by over 7%, while the wider market gauge has fallen by 10%. Analysts attribute this to the Federal Reserve's policies. Despite this, Trump's pro-crypto stance keeps the market optimistic in the long term.
This move could strengthen the USA's position in digital assets and blockchain technology, despite current market fluctuations.
