Bo Hines named executive director of Donald Trump’s crypto council

Former college football player and United States House Republican candidate Bo Hines has been named executive director of the Presidential Council of Digital Asset Advisers by new President Donald Trump.

Dubbed the “Crypto Council,” Hines will work with tech entrepreneur, AI and Crypto Czar David Sacks to create a regulatory framework for the digital assets sector, as Trump confirmed in a Dec. 22 Truth Social post.

David Sacks, who was appointed as Trump’s AI and Crypto Czar last month, will lead the newly formed crypto council tasked with shaping digital asset policies, collaborating with Congress on regulatory frameworks, creating a Bitcoin reserve, and coordinating efforts with key agencies such as the SEC and CFTC. and Treasury.

Trump wrote that Sacks and Hines, who are both seen as staunch advocates of the crypto industry, are expected to foster innovation, create growth opportunities and ensure industry leaders have the tools needed to succeed in an evolving digital economy.

“Together, they will create an environment in which this industry can thrive and remain a cornerstone of our Nation’s technological advancement.”

In a Dec. 23 post, Hines expressed excitement about taking on the new role, calling it the “honor of a lifetime.”

The crypto community largely greeted Hines’ appointment with optimism, viewing it as a positive step towards regulatory clarity and industry growth. Prominent figures, including MicroStrategy’s Michael Saylor and Cardano founder Charles Hoskinson, publicly congratulated Hines. See below.

Congratulations Bo. It’s hard work but you’re up for it

— Charles Hoskinson (@IOHK_Charles) December 23, 2024

Hines ran for the House of Representatives in North Carolina’s 6th District this year but came up short in the Republican primary, finishing fourth among the candidates. Hines ran for North Carolina’s 13th District in his previous bid in 2022 but narrowly lost to Democrat Wiley Nickel in the general election.

The former football player has also received support from influential pro-crypto political action committees, including the American Dream Federal Action super PAC. He was also backed during the 2022 congressional campaign by former FTX executive Ryan Salame, who is currently in prison for campaign finance violations.

Hines’ appointment reflects Trump’s ongoing strategy to surround himself with pro-crypto allies as he establishes his new administration. This approach is in line with the earlier nomination of former SEC Commissioner Paul Atkins, a well-known proponent of clearer crypto regulations, to replace outgoing SEC Chairman Gary Gensler, whose tenure was marked by regulatory uncertainty, frequent lawsuits and aggressive enforcement actions against the company. crypto industry.