Article reprinted from: Weilin
Author: Weilin, PANews
On December 23, President-elect Trump announced that Bo Hines would serve as the Executive Director of the newly established Presidential Digital Asset Advisory Committee (abbreviated as 'Crypto Committee'). Compared to other nominees, the 29-year-old Bo Hines is a newcomer to politics and cryptocurrency, having not publicly disclosed his stance on cryptocurrencies. Before entering politics, he was a college football player and ran for a seat in the North Carolina House of Representatives in both 2022 and 2024. Although he lost to a Democrat in 2022, he received Trump's endorsement in the election, thus establishing a connection with Trump.
Moreover, the specific structure and personnel of the Crypto Committee are still being planned. According to Bloomberg, various decisions regarding the structure of the Crypto Committee will be made in the coming weeks, with both large and small-scale options currently available. The final list of members is expected to be announced in January.
Previously endorsed by Trump to run for state legislator, a newcomer in crypto and politics becomes the Executive Director of the Crypto Committee.
Trump announced this appointment in a statement on Truth Social. "Bo Hines will serve as the Executive Director of the Presidential Digital Asset Advisory Committee (the 'Crypto Committee'). This committee is a new advisory group composed of leaders in the cryptocurrency industry, chaired by our 'Crypto Czar' David Sacks. Bo graduated from Yale University and Wake Forest University Law School," he said.
In this position, Bo Hines will "work with David Sacks to drive innovation and growth in the digital asset space while ensuring industry leaders have the resources they need to succeed." Trump stated, "They will work together to create an environment where this industry can thrive and continue to be the cornerstone of our country’s technological advancement.
Previously, PANews had published an article introducing 'Crypto Czar' David Sacks (related reading: The Diverse Background of White House Crypto Chief David Sacks: Silicon Valley Investor, Close Friend of Musk, and Benefactor of Vance), while the 29-year-old Bo Hines is relatively inexperienced in politics. Some analysts believe that Trump's move may be aimed at attracting younger crypto users.
Looking back at Bo Hines's political experience, in January 2021, Bo Hines announced his candidacy as a Republican candidate for the House seat in North Carolina's 5th Congressional District. In February 2022, the North Carolina Supreme Court ruled that the congressional district map of North Carolina was unconstitutional. After the district maps were overturned, Hines decided to switch to the newly drawn 13th Congressional District, but faced significant controversy due to issues such as not residing within the district. On March 14, 2022, he received the endorsement of former President Trump, who called Hines a "warrior for conservative values."
On May 17, 2022, Bo Hines defeated seven opponents in the Republican primary, receiving 32% of the vote, and won by a nearly double-digit margin over his closest rival. However, Hines narrowly lost to Democratic State Senator Wiley Nickel in the general election. With Nickel's victory in the 13th district, along with another Democratic win in the newly established 14th district due to population growth, North Carolina Democrats flipped one seat and gained another, bringing the state's congressional representation to a tie of 7 to 7. Nevertheless, Bo Hines may have established a connection with Trump as a result.
In May 2022, Business Insider reported that Bo Hines mainly raised campaign funds through PACs. Campaign finance disclosures indicate that only 28% of Hines's campaign funds were self-raised, with most donations coming from individual donors. It was reported that part of the funds came from FTX executive Ryan Salame, who is currently serving a seven-and-a-half-year sentence after admitting to charges including conspiracy to make illegal political donations.
In 2024, Bo Hines ran again for a congressional seat, targeting North Carolina's 6th Congressional District, but lost in the Republican primary. This time, he did not receive Trump's endorsement, as Trump instead backed incumbent Congressman Addison McDowell. Now, Trump has directly appointed him to a White House job, even though he had no previous public statements on cryptocurrency.
Before entering politics, Bo Hines was a wide receiver for the college football team at North Carolina State University, later transferring to Yale University, where he briefly continued his football career.
Following this appointment, in a related post on X, Bo Hines expressed to Trump, "It would be an honor of a lifetime to serve in your next administration," adding, "I am very excited to work alongside the talented David Sacks to ensure this industry thrives and continues to be the cornerstone of technological advancement in our country."
On December 23, Trump also announced several team members working alongside David Sacks, including Michael J.K. Kratsios as Director of the White House Office of Technology Policy, Dr. Lynne Parker as Executive Director of the President's Council of Advisors on Science and Technology, and Sriram Krishnan as Senior Policy Advisor for Artificial Intelligence at the White House Office of Technology Policy.
"The Crypto Committee" is about to be established, and industry insiders are vying for influence.
According to Bloomberg, citing unnamed informed sources, the incoming U.S. government is weighing two distinctly different options to establish a long-awaited advisory committee for the cryptocurrency industry.
Trump and his core team are considering forming a committee with at least 10 members or up to 100 members. This committee will report to David Sacks. Sacks will manage two separate committees corresponding to the two areas he is responsible for, as Trump’s first appointee for artificial intelligence and cryptocurrency affairs.
A small crypto committee composed of CEOs and other senior industry executives will have a greater impact on policy; while a larger committee will function more like a ceremonial information-gathering body, with members from a broader range of fields.
Even before the election, executives from digital asset exchanges and Bitcoin mining companies had begun visiting Mar-a-Lago and donating substantial amounts to Trump's campaign.
Recently, top companies in the crypto industry have been intensively visiting Trump, trying to influence his personnel appointments and policies in the crypto realm. On November 22, according to Reuters, Coinbase CEO Brian Armstrong recently met with Trump, and Circle CEO Jeremy Allaire has also publicly expressed a willingness to join the committee. Additionally, Paradigm and the crypto division of Andreessen Horowitz (a16z) are also expected to have a seat at the committee. Furthermore, several crypto companies, including Ripple and Kraken, are competing for seats on Trump’s crypto advisory committee. This organized outreach is ongoing; in November, Justin Sun also stated he invested $30 million in World Liberty Financial. Earlier in December, Crypto.com CEO Kris Marszalek met with Trump at Mar-a-Lago in Florida to discuss personnel appointments and regulatory issues in the crypto industry.
It is reported that the cryptocurrency advisory committee may be affiliated with the White House National Economic Council or an independent White House department, with main responsibilities including coordinating digital asset policy, collaborating with Congress to develop cryptocurrency legislation, establishing a Bitcoin reserve, and working with agencies such as the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and the Treasury Department.
Bloomberg reports that any decisions regarding the committee's structure will be made in the coming weeks, with the final composition and members expected to be announced in January. Trump is expected to sign an executive order shortly after taking office to formally establish the committee. Although lobbying enthusiasm is high from industry insiders, there is currently no formal nomination process.