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President-elect Donald Trump has unveiled that Bo Hines will serve as the executive director of the Presidential Council of Advisers for Digital Assets.
Informally known as the "Crypto Council," the body aims to solidify America’s dominance in the blockchain sector, as pledged by Trump who described the sector as being a "cornerstone of our nation’s technological advancement.”
“I am pleased to announce the brilliant team that will be working in conjunction with our White House A.I. & Crypto Czar, David O. Sacks,” Trump said in a Truth Social post. “Together, we will unleash scientific breakthroughs, ensure America’s technological dominance, and usher in a Golden Age of American Innovation!”
Hines is a 29-year-old Yale graduate, former football player, a law degree holder from Wake Forest, and former Republican candidate in North Carolina’s 13th district.
In his new role, Hines will collaborate closely with David Sacks, Trump’s “Crypto Czar.” According to Trump, Sacks' role will involve "safeguarding free speech online" and "steering us away from Big Tech bias and censorship" as well as establishing a legal framework for the crypto industry.
Sacks is a founding member of the "PayPal Mafia," and is known for his role in scaling PayPal and for founding Yammer, which Microsoft acquired for $1.2 billion.
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Trump has also assembled a tech-focused leadership team to advance his broader goals in artificial intelligence (AI) and innovation. Michael J.K. Kratsios, a former U.S. Chief Technology Officer and distinguished public servant, will serve as Director of the White House Office of Science and Technology Policy (OSTP).
AI policy expert and former leader of the National Artificial Intelligence Initiative Office, Dr. Lynne Parker, will serve as the Executive Director of the Presidential Council of Advisors for Science and Technology (PCAST).
Sriram Krishnan, a founding member of Microsoft’s Windows Azure team, will take on the role of Senior Policy Advisor for Artificial Intelligence.
These appointments come as the crypto market suffers its first significant wobble since Bitcoin hit $100,000.
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Nonetheless, Trump's attempts to lay the groundwork for a more convincing crypto framework ahead of his inauguration have been much appreciated by the industry.
Earlier this month Trump announced that he intends to nominate cryptocurrency advocate Paul Atkins to chair the Securities and Exchange Commission (SEC). Describing Atkins as a "proven leader for common sense regulations,” Trump has backed the CEO of Patomak Partners as the frontrunner to replace Gary Gensler.
Additionally, pro-Bitcoin Stephen Miran has been announced to lead the Council of Economic Advisers. Miran was a former senior adviser for economic policy at the Treasury Department during the first Trump administration.
He holds a doctorate in Economics from Harvard University and now serves as an economics fellow at the Manhattan Institute while working as a senior strategist for the hedge fund Hudson Bay Capital Management LP.
“Steve will work with the rest of my Economic Team to deliver a Great Economic Boom that lifts up all Americans,” Trump said in a statement.
