White House Announces Resignation of Digital Currency Council Director, Who Returns to Private Sector
In a surprising development, Bo Hines, appointed Executive Director of the White House Digital Currency Council in December 2024, has announced his resignation, highlighting his intention to return to the private sector.
In an official statement, Hines expressed gratitude to the digital currency community for their support throughout his tenure. He also praised the collaborative efforts alongside AI and crypto expert David Sacks in advancing the United States’ position as a global hub for digital assets.
This resignation follows months after President Donald Trump’s executive order in January, which established a national digital currency stockpile and a strategic Bitcoin reserve. The order stipulates that the federal government cannot sell its Bitcoin holdings and must acquire new digital assets through budget-neutral strategies, avoiding any additional federal budget burdens such as asset seizures.
In March, Hines proposed a bold plan to support this initiative by revaluing U.S. gold reserves, currently priced at a historic $42.22 per ounce, a figure far below the market price nearing $3,400 per ounce. His proposal included selling a portion of the revalued gold to finance additional Bitcoin purchases for the national reserve.
Bo Hines will be succeeded by Patrick White, who previously served as Deputy Chief of Staff at the U.S. Office of Personnel Management during Trump’s first term and currently acts as the interim director of the Pentagon’s Strategic Capital Office. Unlike Hines, White’s professional background lacks documented experience in digital currencies.
Notably, the Trump administration continues a pattern of appointing former college football players to key roles overseeing digital asset management. White, a former Yale University quarterback, briefly ran for Congress in Georgia.
However, his Rhodes Scholarship candidacy was withdrawn following a sexual misconduct complaint by a former partner, allegations he has denied.
