Executive Director of the White House Crypto Council returns to the private sector

Bo Hines, the Executive Director of the White House Crypto Council, is officially stepping down to return to the private sector, according to posts he shared to X earlier today. 

His time on the council encouraged significant engagement with the crypto industry.

According to reports, Hines will be replaced by his deputy, Patrick Witt, who is currently the deputy director of the council and acting director of the Office of Strategic Capital at the Department of Defense.

While Hines has shared an intention to return to the private sector, there are indications that he plans to retain an advisory role as a special government employee and will assist White House AI and Crypto Czar David Sacks with AI-related initiatives.

Bo Hines walks away from White House role

Hines shared a statement regarding the development on X, expressing how honorable it has been to serve in President Trump’s administration and work alongside AI & Crypto Czar David Sacks as Executive Director of the White House Crypto Council.

“Together, we have positioned America as the crypto capital of the world. I’m deeply grateful to the industry for its unwavering support — I love this community and all we’ve built together. As I return to the private sector, I look forward to continuing my support for the crypto ecosystem as it thrives here in the United States,” he wrote.

The administration’s AI and Crypto Czar, David Sacks shared his admiration for Hines’ “expertise” in leading the inaugural crypto council and his role in pulling accomplishments like the crypto summit, GENIUS Act, and digital assets report over the finish line. The Trump appointee also said he looks forward to the departing Hines’ “advise” in the future.

Acting CFTC head is also on her way out

Hines is the latest Trump appointee to reveal his desire to return to the private sector upon resignation. In May, it was revealed that the current head of the CFTC, Caroline Pham, also has similar plans scheduled for later this year.

Pham confirmed this is true while delivering a speech at the International Swaps and Derivatives Association Annual Meeting in Amsterdam, saying she’ll step down as soon as Brian Quintenz is confirmed as chairman.

“I will be returning to the private sector once Brian Quintenz is confirmed as Chairman,” she said. “While I don’t have any specific plans for what’s next for me personally yet, I hope to make some over the next several months.”

Pham’s exit comes after fellow Republican commissioner, Summer Mersinger, departed the agency to become the CEO of the crypto advocacy group Blockchain Association in June.