Following the departure of Bo Hines, President Donald Trump's cryptocurrency adviser, his deputy Patrick Witt is poised to take the reins in guiding the industry's policy priorities in Washington. Witt's appointment comes as the industry continues to seek comprehensive regulations and the establishment of a federal cryptocurrency reserve. With a background similar to Hines, Witt is a former football star who played at Yale before pursuing a law degree and later fell short in his bid for Congress.
He also had a brief stint as a free-agent quarterback for the New Orleans Saints. Both Witt and Hines have strong ties to Trump and have built their political careers around his presidency. As the executive director of the President's Council of Advisers on Digital Assets, Witt will assume the role without extensive experience in the crypto sector, similar to his predecessor.
The Solana Policy Institute's CEO, Miller Whitehouse-Levine, expressed enthusiasm for Witt's appointment, stating, 'We've had the pleasure of working with Patrick throughout the year and look forward to him continuing to implement policies that will make the United States this global hub of crypto innovation and development.' Witt, a Harvard Law School graduate, has described himself as a 'public servant' and has experience working at the federal level, including stints at McKinsey & Co., the Office of Personnel Management, and the Department of Defense. Despite his experience, Witt's political career in his home state of Georgia has been met with limited success, including an unsuccessful bid for insurance commissioner and a brief attempt to run for Congress. As Witt takes on his new role, he will be tasked with advancing key legislation, including the Digital Asset Market Clarity Act, and overseeing the development of the administration's Bitcoin Strategic Reserve.
His predecessor, Hines, recently celebrated the passage of the first U.S. crypto legislation governing stablecoins, but left behind a significant to-do list. Witt has re-posted Hines' farewell message, expressing his support for the crypto ecosystem, but has yet to outline his own agenda.
The White House has not immediately commented on Witt's promotion, and Trump's senior crypto policy chief, David Sacks, remains in his position.