Trump continues to surprise industry policy experts by appointing new faces.
Hines was chosen to lead the Crypto Council
(Associated Press)
Posted December 23, 2024 at 6:08 pm EST.
President-elect Donald Trump named appointees for several White House advisory roles on Sunday, each of whom he said will work with the future AI & Crypto Czar David Sacks to lead the new administration’s technology policy. The roles, some of which existed prior to his election and some of which will be new, are mostly filled by Trump loyalists rather than well-known names in technology policy circles.
Bo Hines will serve as executive director of the Presidential Council of Advisers for Digital Assets (abbreviated in the post as the “Crypto Council”)Trump did not name the members of council but described them as “luminaries from the Crypto industry.”
“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,” Trump explained in a post on his social media platform, Truth Social. “Together, they will create an environment where this industry can flourish, and remain a cornerstone of our Nation’s technological advancement.”
Read More: David Sacks as A.I. & Crypto Czar? Why the Industry Was Surprised
The announcement, which stretched across two Truth Social posts, included the appointment of Sriram Krishnan as senior policy advisor for artificial intelligence, a new role at the White House Office of Science and Technology Policy. Michael J.K. Kratsios will be director of the White House Office of Science and Technology Policy (OSTP) and Lynne Parker was named to be executive director of the Presidential Council of Advisors for Science and Technology (PCAST), two offices which predate the Trump administration.
The announcements Sunday provide more details to the role of David Sacks, who has met with some members of the House of Representatives and has had a one-on-one meeting with French Hill, a representative from Arkansas and designated to be the next session’s Chair of the House Financial Services Committee, according to sources directly familiar with the matter. One representative who met with Sacks said he was thoroughly impressed with his detailed understanding of crypto and was under the impression that Sacks would be involved in the details of crypto regulation. According to the representative, Sacks used the meeting to explain his stance on the “value proposition” of Bitcoin. First, Sacks explained that Bitcoin is valuable because of its limited, algorithmically-controlled supply, according to the representative. Second, Sacks said that Bitcoin is valuable because it is not backed by any government and is not fiat — an explanation which sounds similar to that which could be made for an asset like gold.
Hines ran against Wiley Nickel, a Democratic representative for North Carolina, in 2022, losing narrowly in a competitive swing state with 48.4% of the vote, according to Ballotpedia. Prior to politics Hines played college football as a wide receiver for North Carolina State and Yale. He received a law degree from Wake Forest University in 2022, and is 29 years old.
Read More: Who Will Be Trump’s CFTC Chair? There’s a New Top Contender for the Role
Two sources who spoke with Unchained conceded that Hines was not well-known in crypto policy circles but has been an outspoken Trump loyalist throughout his political career. One of them pointed out that Hines had the clean cut, preppy appearance and Ivy League pedigree Trump, who is reportedly concerned with how his cabinet looks on television, seems to prefer in his appointments.
Blockchain Association Head of Industry Affairs Dan Spuller posted on X that Hines had visited the association’s headquarters earlier this year and called Hines a “friend.” Spuller told Unchained that Hines met with the Blockchain Association as a candidate for Congress in the primary this year, and that he did not know that he was being considered for a role on the Crypto Council. As we first reported in November, crypto advisory groups were consulted about the nomination of Paul Atkins for SEC Chair, though sources have not said these groups have been consulted for other roles relevant to crypto.
Hines’ social media shows strong support of crypto, though his posts on the topic pale in comparison to posts in support of Donald Trump’s presidential campaign in recent months. A page on his Congressional campaign website also positions DeFi as core to Hines’ economic agenda. “Instead of restrictive measures, advocating for a pro-crypto stance fosters a vibrant ecosystem, driving socio-economic empowerment,” it reads. “Furthermore, the U.S. should adamantly resist the adoption of central bank digital currencies, preserving financial sovereignty and the principles of decentralization.”
