Donald Trump’s crypto-promises list appears to be shrinking with another personnel decision.
Bo Hines is to be the Executive Director of Trump’s Presidential Council of Advisers for Digital Assets. David Sacks is going to chair the group. Sacks was the PayPal founder who Trump had appointed as US government AI and Crypto czar in the beginning of the month.
Hines and Sacks will be working together “to foster innovation and growth in the digital assets space, while ensuring industry leaders have the resources they need to succeed,” Trump posted on Truth Social.
“Together, they will create an environment where this industry can flourish, and remain a cornerstone of our nation’s technological advancement,” he said.
Former NC State and Yale football players, Hines tried to represent North Carolina’s 13th Congressional District in 2022 but lost to Democrat Wiley Nickel. He launched a campaign in December 2023 to represent the state’s 6th Congressional district — endorsing Trump that same month before posting this to X in January:
Trump mentioned the US Crypto council during his July speech to the Bitcoin 2024 Conference in Nashville. It was something that he said he’d assemble “immediately” Then, he asked for the show of hands from those who wished to participate. The crowd cheered.
The candidate for President at the time said that the task of designing crypto-regulatory guidance by council will be completed in 100 days. This is something we’ll need to keep an eye on.
Reuters said last month that Ripple employees, Kraken staff, Circle and Paradigm executives, as well as a16z’s a16z team, were all interested in a seat.
Trump’s continued engagement with the crypto industry shows that his rhetoric in favor of cryptocurrency was more than just lip service. Just a few days prior to the Reuters article, Trump had nominated Cantor Fitzgerald CEO Howard Lutnick as his nominee for Commerce Secretary.
In addition, last week the soon to be president had a meeting with Crypto.com’s CEO Kris Marszalek about cryptocurrency-related appointments.
Those congratulating Hines on X yesterday included crypto bigwigs Michael Saylor and Fred Thiel — leaders of two companies (MicroStrategy and Marathon Digital) which own roughly 490,000 BTC combined.
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