President Trump’s Crypto Adviser Resigns, Deputy Patrick Witt Takes Over
President Donald Trump’s crypto adviser, Bo Hines, recently resigned from his position after only a few months. Taking his place is Patrick Witt, who will now be responsible for guiding the industry’s political agenda in Washington. The industry is still pushing for comprehensive regulations and the establishment of a federal crypto stockpile.
A Similar Background
Witt’s background closely mirrors that of Hines. Both were former football stars at Yale University before pursuing law degrees. While Hines played as a wide receiver, Witt was a free-agent quarterback for the New Orleans Saints. Both individuals also ran for Congress unsuccessfully and have aligned themselves closely with President Trump in recent years.
Witt’s New Role
Witt has been appointed as the executive director of the President’s Council of Advisers on Digital Assets, despite not having a significant background in the crypto industry. However, industry insiders are optimistic about his ability to advocate for policies that promote innovation and development within the United States.
Miller Whitehouse-Levine, CEO of the Solana Policy Institute, expressed excitement about working with Witt and his commitment to advancing the industry’s interests.
Prior Experience
Witt’s career includes stints at McKinsey & Co., the Office of Personnel Management, and the Department of Defense. He also ran for political office in Georgia but was unsuccessful in his bids for insurance commissioner and Congress.
Ongoing Initiatives
Witt inherits a number of ongoing initiatives from his predecessor, including the progress of the Digital Asset Market Clarity Act and the establishment of a Bitcoin Strategic Reserve. The industry is eager to see advancement in these areas following Trump’s directive earlier this year.
Future Plans
While Witt has not yet outlined his specific agenda, he has expressed his commitment to supporting the crypto ecosystem in the United States. The White House has not provided further details on Witt’s promotion.
David Sacks, Trump’s most senior crypto policy chief, remains in his position.
Read More: Why Doesn’t the U.S. Have a Bitcoin Reserve, Yet?