President-elect Donald Trump is taking decisive action to fulfill his crypto promises, with yet another personnel announcement. On Sunday, Trump declared that Bo Hines will take on the role of executive director of the Presidential Council of Advisers for Digital Assets. David Sacks, co-founder of PayPal, who Trump chose to be the US government’s AI and crypto czar earlier this month, will chair this group.
In this role, Hines will collaborate with Sacks to “foster innovation and growth in the digital assets space, while ensuring industry leaders have the resources they need to succeed,” according to a statement by Trump on Truth Social. He added that the duo will “create an environment where this industry can flourish, and remain a cornerstone of our nation’s technological advancement.”
Hines, a former NC State and Yale football player, aimed to represent North Carolina’s 13th Congressional district in 2022, but was defeated by Democrat Wiley Nickel. In December 2023, Hines launched a campaign to represent North Carolina’s 6th Congressional district and publicly endorsed Trump.
Trump first mentioned a US crypto council in July during his address at the Bitcoin 2024 conference in Nashville. He promised to assemble it “immediately” and asked for a show of hands of those who would like to be a part of it, to which the crowd responded enthusiastically. He also stated that the council’s task of designing crypto regulatory guidance would be completed in 100 days, a claim that will be closely watched.
According to a Reuters report last month, representatives from crypto companies such as Ripple, Kraken, Circle, Paradigm, and a16z are among those seeking a seat at the table. Trump’s continuous engagement with the industry seems to indicate that his pro-crypto rhetoric is more than just empty words. Days before the Reuters story was published, Trump nominated the crypto-friendly CEO of Cantor Fitzgerald, Howard Lutnick, to head the Department of Commerce.
In addition, Trump recently met with Crypto.com CEO Kris Marszalek to discuss crypto-related appointments and a bitcoin reserve.
Crypto industry heavyweights, including Michael Saylor and Fred Thiel, leaders of MicroStrategy and Marathon Digital respectively, were among those who congratulated Hines. These two companies currently own approximately 490,000 BTC combined.
This announcement marks the latest step in Trump’s ongoing commitment to the crypto industry, demonstrating a clear intent to integrate digital assets into the fabric of the nation’s technological advancement. As his presidency begins, all eyes will be on how these promises materialize.
