President-elect Donald Trump continues to name new appointees to his government, and on Sunday, he announced that Bo Hines will lead the Trump administration’s “Crypto Council” that will be chaired by crypto czar David Sacks.
The announcement comes as the incoming administration seeks to steer far from its predecessor’s approach toward blockchain and digital assets, but there seems to be a divide between the crypto elites and smaller users regarding Trump’s latest selection.
What is the Crypto Council?
In a post on his social media platform Truth Social on Sunday, Trump said the Crypto Council is a new advisory group composed of “luminaries” from the crypto space. It is officially the Presidential Council of Advisers for Digital Assets.
The new council will be chaired by Sacks, whom Trump appointed as the White House’s “AI & Crypto Czar.” Sacks, a member of the legendary “PayPal Mafia,” was also tapped to lead the Presidential Council of Advisors for Science and Technology.
“Bo will work with David to foster innovation and growth in the digital assets space, while ensuring industry leaders have the resources they need to succeed,” Trump said of the new appointment.
“I am thrilled to world alongside the brilliant David Sacks to ensure that this industry will thrive and remain a cornerstone of our Nation’s technological advancement,” Hines responded.
Who is Bo Hines?
Hines is a former college football player who was a congressional aspirant in the 2022 elections. At the time, Hines received campaign support from pro-crypto PACs, including Crypto Freedom PAC but lost narrowly to his Democratic foe.
Details about Hines’s direct involvement in crypto projects are scant, but in the cryptocurrency community on X, it is clear Hines has made significant connections across the industry over the years.
Multiple big names in crypto congratulated Hines, including MARA Holdings Chairman and CEO Fred Thiel, MicroStrategy Executive Chairman Michael Saylor, digital asset manager Eric Weiss, and Cardano blockchain Co-founder Charles Hoskinson among others.
Crypto Users Frustrated Over Hines’s Lack of Crypto Background
While many big-time crypto executives have already congratulated Hines, many other smaller users raised issue over the apparent lack of information on the former college footballer’s background on blockchain and crypto.
One user posted a screenshot of an X search on Hines’s comments or involvement in Bitcoin. The search turned up no results. “This is concerning to me. Especially if he is to lead a crypto council,” the user argued.
“What has he done to make him in charge of crypto? Been in the space since 2017 and never heard of this kid!” said one user.
Prominent Bitcoin advocate Cory Bates was among those who said he hasn’t heard of Hines and reiterated how the new Crypto Council Executive Director has not posted about BTC nor crypto.
Another user said there is “obvious favoritism” in Trump’s recent picks around crypto-related posts. “Hines just doesn’t have the experience to run this all smoothly,” the user said.
Seemingly in response to the crypto crowd’s concerns, Dan Spuller, the head of Industry Affairs at the Blockchain Association, said Hines is a good friend of his and has “deep understanding of crypto, Bitcoin” and is committed to fostering innovation.
The crypto community’s reaction to Hines’s appointment is very different from how it embraced the announcement regarding Paul Atkins, who will replace Securities and Exchange Commission (SEC) Chair Gary Gensler.
It remains to be seen whether Hines himself will clarify his stance on Bitcoin and the broader crypto space, and whether he will provide more information to the community about why he deserves the position.
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