President Donald Trump has officially announced the lineup for his newly minted Presidential Council of Advisers for Digital Assets, also known as the ‘Crypto Council.’
Leading the charge is Bo Hines, a 29-year-old Yale graduate and former congressional candidate. He will serve as the council’s Executive Director, working alongside Trump’s ‘Crypto Czar,’ David Sacks.
The goal is to cement America’s dominance in blockchain and digital assets while driving innovation in a sector that Trump says will be a “cornerstone of our nation’s technological advancement.”
“I am pleased to announce the brilliant team that will be working in conjunction with our White House A.I. & Crypto Czar, David O. Sacks,” Trump said in a Truth Social post. “Together, we will unleash scientific breakthroughs, ensure America’s technological dominance, and usher in a Golden Age of American Innovation!”
Bo Hines: Trump’s choice to lead the Crypto Council
Bo’ appointment has raised eyebrows, but Trump seems confident in his decision. Bo, who played football at Yale before earning his law degree from Wake Forest, brings a unique background to the role.
In 2022, he ran as a Republican for North Carolina’s 13th congressional district but lost to Democrat Wiley Nickel. While Bo’ crypto credentials aren’t public, Trump has made it clear that his trust in Bo stems from his potential to deliver results in this high-stakes role.
Meanwhile, Sacks has stood proud in his love for crypto. He first invested in Bitcoin literally two years after it was invented.
“Bo will work with David to foster innovation and growth in the digital assets space,” Trump said. “Together, they will create an environment where this industry can flourish.”
The council’s work will also align with Trump’s broader tech ambitions, which include advancements in artificial intelligence and other cutting-edge technologies.
A star-studded tech lineup
Michael J.K. Kratsios has been tapped as the Director of the White House Office of Science and Technology Policy (OSTP) and will serve as an Assistant to the President for Science and Technology. She’s gonna be part of the Council too.
Kratsios is a Princeton graduate and Stanford Fellow, and he is no stranger to Washington. During Trump’s first term, he served as the United States Chief Technology Officer, a position unanimously confirmed by the Senate.
Later, he took on the role of Under Secretary of Defense for Research and Engineering, where he earned the Department of Defense’s Distinguished Public Service Medal.
Another member is Dr. Lynne Parker, who will join the administration as Executive Director of the Presidential Council of Advisors for Science and Technology (PCAST) and Counselor to the OSTP Director.
Parker previously led the National Artificial Intelligence Initiative Office. She holds a PhD in Computer Science from MIT and has been instrumental in shaping U.S. AI policy.
Trump emphasized the importance of PCAST, saying it will bring together “America’s most distinguished minds in science and technology.” David Sacks will also chair PCAST, doubling his responsibilities as a central figure in Trump’s tech agenda.
Next is Sriram Krishnan, a former Microsoft engineer and founding member of Windows Azure, will serve as Senior Policy Advisor for Artificial Intelligence. Working closely with Sacks and Parker, Krishnan will help coordinate AI policy across the government.
The crypto market’s mixed reaction
The announcement comes during a turbulent time for the crypto market. Bitcoin is on track for its first weekly decline since Trump won the election victory. It has dropped over 7% this week, sitting around $95,000 as of press time, down from its record high of $108,000 on December 17.
Ether and Dogecoin have seen steeper declines, with a wider crypto market gauge falling by 10%. Analysts point to the Federal Reserve’s hawkish tone and also its dismissal of Bitcoin as a major factor.
Despite this, Trump’s genuine pro-crypto stance has kept the market incredibly optimistic in the long-term. Another one of the president’s key priorities is extending the Tax Cuts and Jobs Act (TCJA), which is set to expire in 2025.
“We must act to ensure that the tax cuts I implemented continue to benefit American families and businesses,” Trump said today. He’s also proposed eliminating taxes on Social Security benefits, introducing tax deductions for car loans on American-made vehicles, and reducing the corporate tax rate from 21% to 15% for U.S. manufacturers.
Trump is also targeting clean energy tax incentives established under the Biden administration, which he argues have led to higher costs for consumers. “We cannot allow these subsidies to distort our energy market,” he said.
He has proposed eliminating “double taxation” for Americans living abroad, simplifying their tax obligations and ensuring they aren’t penalized for their global ties.
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