Trump names Bo Hines as executive director of the Crypto Council

• Hines will work with David Sacks who Donald Trump named the “White House AI and Crypto Czar”
• Trump said the two will “create an environment where this industry can flourish”

President-elect Donald Trump has named Bo Hines Executive Director of the Presidential Council of Advisers for Digital Assets, or the Crypto Council.

In a post on his social media platform, Truth Social, Trump said:

“In his new role, Bo will work with David to foster innovation and growth in the digital assets space, while ensuring industry leaders have the resources they need to succeed.”

In December, Trump announced David Sacks as the lead policy advisor on artificial intelligence and crypto, dubbing him the “White House AI and Crypto Czar.”

In a post on Truth, Trump wrote that Sacks will take up the role which are “two areas critical to the future of American competitiveness,” adding, among other things, that “he will work on a legal framework so the crypto industry has the clarity it has been asking for, and can thrive in the US.”

Referring to Hines and Sacks working together, Trump added:

“Together, they will create an environment where this industry can flourish, and remain a cornerstone of our Nation’s technological advancement.”

Pro-crypto administration

Since winning the US election in November, Trump has gone on to hire individuals within his administration that are considered pro-crypto.

In November, Trump has announced that Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE) to “dismantle government bureaucracy.”

Posting on Truth Social, Trump said Tesla CEO Musk and entrepreneur Ramaswamy will “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies – Essential to the ‘Save America’ movement.”

Following that announcement, Trump selected Paul Atkins, a staunch advocate for the crypto industry, to serve as the next chair of the US Securities and Exchange Commission (SEC).

Current SEC chair Gary Gensler is stepping down in January 2025.

Since his election win, the crypto market has seen a significant rally with Bitcoin reaching highs of $107,000.