According to reports from Wu, Trump announced on social media that Bo Hines has been appointed as the executive director of the President's Advisory Council on Digital Assets and will work with Chairman David Sacks to promote innovation and development in digital assets.
Hines had previously run for Congress in 2022 with support from a political action committee that backs cryptocurrency, but was not elected. Trump also appointed former Treasury official Stephen Milan as chairman of the Economic Advisory Council.
Milan previously stated that excessive regulation could stifle bank lending and innovation in the crypto economy.