White House Crypto Position Transferred: Patrick Witt Takes Over From Bo Hines

Bo Hines, who was appointed as the Executive Director of the White House Crypto Council in December 2023, has announced his resignation. His departure will be replaced by Patrick Witt, currently serving as the acting director of the Office of Strategic Capital (OSC) at the Department of Defense.

Hines' tenure saw the implementation of Trump's executive order creating a Bitcoin strategic reserve and the championing of the GENIUS Act, a key piece of digital asset regulation, which was signed into law in July. During his time, Hines led a working group that produced a 166-page report outlining policy priorities for digital asset regulation.

Before his government career, Hines returned to the private sector, having worked on implementing Trump's executive order creating a Bitcoin strategic reserve. He described his time in the role as "the honor of a lifetime."

Patrick Witt, a former college football player at Yale University who briefly signed with the New Orleans Saints, is expected to replace Hines. Despite lacking direct experience in the crypto industry, Witt is considered a strong candidate for the role.

The transition from Hines to Witt does not affect Witt's role as acting director of the OSC at the Department of Defense. The announcement does not mention any formal process for Witt's confirmation as Executive Director. No official timeline has been announced for the transition.

Hines will remain as a special government employee to assist with AI initiatives alongside AI and crypto czar David Sacks. The council was established as part of a broader plan to overhaul US digital asset policy by an early-term executive order from Trump.

Eleanor Terret, a journalist, tweeted about Witt's expected replacement earlier this year. The report included recommendations for taxation and banking rules for digital assets. The Office of Strategic Capital (OSC) at the Department of Defense invests in emerging technologies.

As Bo Hines steps down, the digital asset landscape continues to evolve, and the new leadership at the White House Crypto Council will play a crucial role in shaping its future.