US President-elect Donald Trump has announced Bo Hines, a former college football player, as the executive director of his Council of Advisers for Digital Assets, also known as the “Crypto Council.”
President Trump shared the news on social media, highlighting Hines’ role alongside other prominent crypto figures like David Sacks.
Bo Hines Joins Trump’s Crypto Council as Executive Director
Trump stated, “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. Together, they will create an environment where this industry can flourish and remain a cornerstone of our Nation’s technological advancement.”
Hines, who previously ran unsuccessfully as a US House Republican candidate, described the appointment as “an honor of a lifetime.” He expressed his commitment to developing the Bitcoin market and positioning the U.S. as a key player in the industry.
David Sacks just became Trump’s “Crypto & AI Czar”:
• Built PayPal with Elon
• Sold $1.2B company to Microsoft
• Invested early in Facebook, Uber & Airbnb4 years ago, few outside tech knew who David Sacks was…
The untold story of Silicon Valley’s secret kingmaker
pic.twitter.com/rSliOhgda3
— Hosun (@hosun_chung) December 7, 2024
Strengthening ties between the Government and Crypto
The Crypto Council will help strengthen relations between the U.S. government and the crypto industry. Hines’ appointment reflects Trump’s dedication to supporting the digital assets market, an industry many argued struggled under the Biden administration.
Trump’s team has also made some strategic additions in recent days. Sriram Krishnan, a former general partner at Andreessen Horowitz, has been appointed the senior artificial intelligence policy adviser to the council.
I’m honored to be able to serve our country and ensure continued American leadership in AI working closely with @DavidSacks.
Thank you @realDonaldTrump for this opportunity. pic.twitter.com/kw1n0IKK2a
— Sriram Krishnan (@sriramk) December 22, 2024
The team also includes high-profile political backers like Elon Musk, who has taken on an advisory role in the new administration. Additionally, Trump appointed former commissioner of the US Securities and Exchange Commission (SEC), Paul Atkins, to lead the agency.
A shift towards better policies
These appointments signal a potential shift to a more friendly regulatory environment under the Trump administration. Many see this as a stark contrast to the approach of outgoing SEC chair Gary Gensler, whose tenure was marked by aggressive enforcement actions against prominent crypto firms and individuals, including Binance and its founder, Changpeng Zhao.
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