President Donald Trump has officially announced the members of the newly formed Presidential Advisory Council on Digital Assets, also known as the 'Cryptocurrency Council'.

Leading the charge is Bo Hines, a 29-year-old Yale graduate and former congressional candidate. He will serve as the council's CEO, working alongside Trump's 'Crypto Czar' David Sacks.

The goal is to cement US dominance in blockchain and digital assets, while also spurring innovation in an area that Trump said would be “fundamental to our nation’s technological advancement.”

“I am excited to announce the incredible team that will be working alongside our White House AI & Crypto Czar, David O. Sacks,” Trump said in the Truth Social post. “Together, we will create scientific breakthroughs, ensure American technological dominance, and usher in a Golden Age of American Innovation!”

Bo Hines: Trump's Pick to Lead the Cryptocurrency Council

Bo's appointment has drawn a lot of attention, but Trump appears confident in his decision. Bo, who played football at Yale before earning a law degree at 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’s crypto credentials are not public, Trump has made it clear that his confidence in Bo stems from his potential to deliver results in this high-risk role.

Meanwhile, Sacks remains proud of his love for cryptocurrencies, having first invested in Bitcoin exactly two years after its invention.

“Bo will work with David to drive innovation and growth in the digital asset space,” Trump said. “Together, they will create an environment where this industry can thrive.”

The council's work would also fit into Trump's broader technology ambitions, which include advances in artificial intelligence and other cutting-edge technologies.

An all-star tech lineup

Michael J.K. Kratsios has been appointed Director of the White House Office of Science and Technology Policy (OSTP) and will serve as Assistant to the President for Science and Technology. She will also be a member of the Council.

Kratsios is a Princeton graduate and Stanford alum, 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.

He then served as Under Secretary of Defense for Research and Engineering, where he was awarded the Department of Defense Distinguished Public Service Medal.

Another member is Dr. Lynne Parker, who will join the administration as Executive Director of the President's Council of Advisors on Science and Technology (PCAST) and Advisor to the Director of OSTP.

Parker previously headed the National Artificial Intelligence Initiative Office. She holds a PhD in Computer Science from MIT and played a key role in shaping U.S. AI policy.

Trump emphasized the importance of PCAST, saying the conference would bring together “America’s brightest minds in science and technology.” David Sacks will also serve as PCAST’s chairman, doubling his responsibilities as a central figure in Trump’s tech agenda.

Next up is Sriram Krishnan, a former Microsoft engineer and founding member of Windows Azure, who will serve as Senior Policy Advisor for Artificial Intelligence. Working closely with Sacks and Parker, Krishnan will help coordinate government-wide AI policy.

Mixed reactions from the cryptocurrency market

The announcement comes amid turmoil in the cryptocurrency market. Bitcoin is on track for its first weekly decline since Trump won the election. The coin is down more than 7% this week, trading at around $95,000 as of press time, down from its record high of $108,000 on Dec. 17.

Ether and Dogecoin saw steeper declines, with the broader cryptocurrency market index down 10%. Analysts pointed to the Federal Reserve's hawkish tone and its rejection of Bitcoin as a major factor.

Still, Trump’s pro-crypto stance has left the market extremely bullish in the long term. One of the president’s main priorities is to extend the Tax Cuts and Jobs Act (TCJA), which is set to expire in 2025.

“We must act to ensure that the tax cuts I made continue to benefit American families and businesses,” Trump said today. He also proposed eliminating taxes on Social Security benefits, creating tax deductions for auto loans for American-made vehicles and reducing the corporate tax rate from 21% to 15% for American manufacturers.

Trump is also taking aim at clean energy tax incentives established under the Biden administration, which he says have led to higher costs for consumers. “We can’t let these subsidies distort our energy markets,” he said.

He has proposed eliminating “double taxation” for Americans living abroad, simplifying their tax obligations and ensuring they are not penalized for their global connections.

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