On Sunday on Truth Social, Donald Trump appointed two new figures as advisors on economic issues.

Notably for cryptocurrency investors, Trump announced that Bo Hines, a former college football player who received the Republican nomination for North Carolina's 13th congressional district before losing to a Democratic opponent in the general election, will take on the role of Executive Director of the Presidential Advisory Council on Digital Assets, which Trump referred to as the 'Crypto Council.'

Bo Hines

Previously, Trump appointed David Sacks to lead issues related to cryptocurrency and artificial intelligence (AI) at the White House, and in his announcement, he mentioned that Hines would collaborate with Sacks.

"In this new role, Bo will work with David to promote innovation and development in the digital asset space while ensuring that industry leaders have the necessary resources to succeed," Trump wrote. "Together, they will create an environment where this industry can thrive and continue to be the foundation of our nation's technological progress."

Hines received funding in the 2022 congressional campaign from cryptocurrency-supporting PACs. Part of this money came from Ryan Salame, a former director of FTX, who is currently serving seven and a half years in prison after pleading guilty to charges related to a scheme to make illegal political contributions.

In the 2024 election, Hines ran again in the same district but did not win the Republican nomination, finishing fourth with 14.4% of the vote. Republican Addison McDowell then won this district in the general election with 69.2% of the total vote.

Also on Sunday, Trump appointed former Treasury official Stephen Miran as the chairman of his Economic Advisory Council.

"I believe that current financial regulations are too burdensome and are preventing banks from lending into the economy as much as they could. And I think sometimes that can really hinder innovation in areas like the cryptocurrency economy," Miran stated on The Bitcoin Layer podcast earlier this month.



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