White House crypto position vacated: Patrick Witt steps in as replacement for Bo Hines
Bo Hines, the current Executive Director of the White House Crypto Council, has announced his resignation after a remarkable tenure in the role. His departure has been met with appreciation from industry leaders, including Coinbase CEO Brian Armstrong and MARA Holdings CEO and chairman Fred Thiel.
Hines' resignation comes after a significant period of work in the digital asset sector. He was appointed to lead the Council of Advisers on Digital Assets in 2023 and went on to become the Executive Director of the White House Crypto Council in December 2024. During his time in these roles, Hines played a pivotal part in shaping US digital asset policy.
One of Hines' most notable achievements was championing the GENIUS Act, a key piece of regulation that provided a regulatory framework for stablecoins. This act was signed into law in July. Hines also worked on implementing Trump's early-term executive order, which established the crypto council as part of a broader plan to overhaul US digital asset policy.
The working group led by Hines produced a comprehensive 166-page report outlining policy priorities for digital asset regulation. This report included recommendations for taxation and banking rules, aiming to create a more robust and secure digital asset ecosystem.
Although no official timeline has been announced for the transition, it is expected that Patrick Witt will replace Hines as the Executive Director of the White House Crypto Council. Witt currently serves as the acting director of the Office of Strategic Capital (OSC) at the Department of Defense. Before his time in government, Witt played college football at Yale University and briefly signed with the New Orleans Saints.
Eleanor Terret, a notable figure in the digital asset industry, tweeted about the expected transition, expressing her support for Witt taking over the role. Hines, in his resignation statement, described his time in the role as "the honor of a lifetime". He will remain as a special government employee to assist with AI initiatives alongside AI and crypto czar David Sacks.
The Office of Strategic Capital (OSC) at the Department of Defense invests in emerging technologies, making Witt's background in both technology and football a potentially valuable combination for the role. As the digital asset sector continues to evolve, the new leadership at the White House Crypto Council will undoubtedly play a crucial role in shaping its future.
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