Bo Hines, Executive Director of President Donald Trump’s White House Crypto Council, announced his resignation on Saturday, just eight months after being appointed to the role. Hines, who stepped into the position in December 2024, said he will return to the private sector and expressed gratitude to the crypto community for its “unwavering” support. He praised his work alongside AI & Crypto Czar David Sacks, saying the administration has “positioned America as the crypto capital of the world.”

While no official successor has been named, independent crypto reporter Eleanor Terrett suggested that Deputy Director Patrick Witt is the likely frontrunner.

During his tenure, Hines oversaw the Council’s July release of a major regulatory framework for digital assets. However, critics say the Council fell short on delivering a concrete plan for building a national Bitcoin reserve, a cornerstone of Trump’s crypto policy.

In January, President Trump signed an executive order creating a strategic Bitcoin reserve and national crypto stockpile. The order banned the sale of government-held BTC and required the Treasury and Commerce Departments to use “budget-neutral” methods—such as asset seizures—to acquire more.

Hines championed unconventional strategies to expand the reserve, including a March proposal to revalue US gold holdings. Currently valued on government books at $42.22 per troy ounce despite trading at roughly $3,400 on the market, the revaluation could free up capital for BTC purchases without adding to the federal budget.