President-elect Donald Trump has appointed Bo Hines, the former college football player and House GOP nominee, as Executive Director of the President’s Council of Digital Asset Advisors, or Crypto Council.
Hines will work closely with Trump’s new AI and crypto czar David Sacks.
Hines will begin working with David Sacks, Trump’s newly appointed AI and crypto czar, to drive innovation in the digital asset space, ensuring industry leaders have access to the resources needed to succeed.
“Together, they will create an environment in which this industry can flourish, and remain a cornerstone of our Nation’s technological development,” Trump shared in a statement on Truth Social.
Thank you, Mr. President! It will be the honor of a lifetime to serve in your next administration. Thank you for everything you have done and continue to do for our country. @realDonaldTrump
I am happy to work together with the great @DavidSacks ensure that this industry… pic.twitter.com/DWzU6vO2Oe
— Bo Hines (@BoHines) December 22, 2024
New Blood
Hines has yet to publicly state his position on Bitcoin or cryptocurrencies. However, The Block reported that Trump’s new crypto council had some connection to cryptocurrencies in the past.
Hines reportedly received support from pro-crypto political action committees (PACs) during his 2022 congressional campaign in North Carolina.
The Club for Growth, a conservative CCP that promotes limited government and economic freedom, specifically supported Hines in his bid for the 13th congressional district.
The PAC actively supports candidates who share their pro-growth and pro-crypto principles. This suggests that Hines could be considered a cryptocurrency supporter or a crypto-friendly candidate.
In response to his nomination of X, Hines expressed his enthusiasm to work alongside Sacks. He also noted that his role will promote the cryptocurrency industry as an integral part of the nation’s technological progress.
Several industry figures have expressed support for Hines’ appointment, including MicroStrategy executive chairman Michael Saylor and Cardano founder Charles Hoskinson. David Sacks also sent a congratulatory message to Hines.
Better Policies
Earlier on Sunday, Trump announced the appointment of Stephen Miran as chairman of his Council of Economic Advisers (CEA). Miran is expected to lead an agency that plays a critical role in advising the president on economic policy.
The council is tasked with preparing an annual report that provides an overview of the nation’s economy, reviews federal policies and programs, and makes recommendations for economic policy.
Miran previously worked as a senior economic policy adviser at the Treasury Department during Trump’s first term. His expertise and experience are expected to guide Trump’s economic initiatives, which aim to foster a vibrant, non-inflationary economy that benefits all Americans.
Miran is a crypto supporter; he said in a podcast hosted by The Bitcoin that cryptocurrencies can contribute to innovation and economic growth during the Trump administration.
The economist also criticized the existing financial regulatory framework as overburdened, which he believes hinders the growth of banking as well as the potential for crypto-economic innovation.
Both Hines and Miran’s appointments are subject to Senate approval.
Trump is one of the most crypto-friendly teams in history. The President-elect has nominated many individuals known for their favorable, supportive position on cryptography to key positions, such as Paul Atkins, a lobbyist for the crypto sector who is to head the Securities and Exchange Commission (SEC) .
The Trump administration’s approach appears to be aimed at reducing regulatory burdens that have long burdened the crypto sector. Under SEC Chairman-designate Atkins, the SEC, the agency most involved with the industry, is expected to shift its position to a less stringent regulatory approach.
The incoming administration plans to establish a Strategic Bitcoin Reserve and create a dedicated Bitcoin and Crypto Advisory Council. These initiatives will focus on developing policies that foster growth and innovation in various areas of the sector such as stablecoins and decentralized finance (DeFi).
It is widely expected that Trump will soon nominate the Chairman of CFDC, which will oversee an agency that works closely with crypto companies.
