Trump Appoints Another New Digital Asset Advisor

Mr. Trump continues to actively nominate influential figures in the cryptocurrency market to support him ahead of his inauguration as President in the coming year.

On December 22, Donald Trump made headlines by appointing two new economic advisors in posts on the social media platform Truth Social. Among these, the most noteworthy for cryptocurrency investors was Trump’s appointment of Bo Hines, a former football player and Republican congressional candidate for North Carolina’s 13th district.

Hines will serve as the Executive Director of the Presidential Advisory Council on Digital Assets, also known as the "Crypto Council."

Previously, Trump appointed David Sacks to oversee matters related to crypto and artificial intelligence at the White House. This time, Trump announced that Bo Hines will collaborate with Sacks to drive innovation and growth in the digital asset sector.

"In his new role, Bo will work alongside David to drive innovation and growth in the digital asset sector, while ensuring that industry leaders have the resources they need to succeed."

-- Trump shared --

He emphasized that both will work together to create a favorable environment for the industry to grow, becoming a foundation for America's technological progress.

Bo Hines is not a stranger in the political and crypto circles. During his 2022 congressional campaign, Hines received funding from crypto-supporting PACs, including a contribution from Ryan Salame, the former CEO of FTX, who is currently serving a 7.5-year prison sentence for charges related to illegal political contributions.

A crypto PAC (Political Action Committee) is an organization focused on advocating and supporting issues or candidates related to the cryptocurrency industry. These PACs are often established to raise funds and support legal policies or candidates that favor the development of the crypto sector.

In 2024, Hines ran for office in the same district but failed to secure the Republican nomination, finishing fourth with 14.4% of the vote. Ultimately, Addison McDowell, the Republican candidate, won the election with 69.2% of the total votes.

In addition to Hines, Trump also appointed Stephen Miran, a former Treasury Department official, as Chairman of the Economic Advisory Council. Miran is known for his criticism of current financial regulations, arguing that they create barriers to economic innovation.

"I believe that current financial regulations are too burdensome and prevent banks from lending to the economy as much as they would like. And sometimes, this can really stifle innovation in areas like the crypto economy."

-- Miran shared in a podcast --

These decisions show that Trump is focusing on the development of digital asset technology and crypto, while also pushing for economic policies that will create a favorable environment for the industry to thrive further.

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