Trump confirmed Bo Hines as the executive director of the Presidential Digital Asset Advisory Committee, working with Chairman David Sacks to promote digital asset innovation and development. Hines was funded by a political action committee supporting cryptocurrencies to run for Congress in 2022, but was unsuccessful in being elected. Trump also appointed former Treasury official Stephen Miran as chairman of the Council of Economic Advisers. Miran previously said that excessive regulation could inhibit bank lending and innovation in the crypto economy.