The White House faces uncertainty over who will coordinate cryptocurrency policy following Patrick Witt’s departure from its digital assets council. The vacancy comes after a stalled Senate vote on market structure legislation ahead of November elections.
Crypto Advisory Team Loses its Leadership
Trump established a dedicated digital assets initiative in January 2025. David Sacks initially served as artificial intelligence and cryptocurrency czar, while Bo Hines became the first director of the President’s Council of Advisors for Digital Assets.
Hines led the effort for approximately eight months, during which Congress passed the GENIUS Act, regulating payment stablecoins. A broader policy agenda followed in July 2025. Hines later joined Tether’s US business. His deputy, Witt, assumed leadership and focused on advancing the Digital Asset Market Clarity Act. Sacks departed his czar position in March 2026, while another council official, Harry Jung, joined Hines’ firm, Nxum.
Clarity Act Faces Political Roadblocks
Witt’s exit follows the legislation’s failure to advance during a September 15 Senate vote. Negotiations encountered disagreements over ethical restrictions on government officials’ cryptocurrency interests, including Trump’s businesses.
According to CoinDesk, a White House official declined to identify Witt’s successor but emphasized that the administration remained committed to cryptocurrency legislation. “Crypto and Clarity Act will continue to be a priority for the president,” the official said.
Witt confirmed his departure on Wednesday, thanking lawmakers and regulators who supported the effort. He indicated that he would move into the private sector.
Consulting Payments Draw Scrutiny
According to The Wall Street Journal, Hines’ consulting firm Nxum received payments from Tether while he was serving in the White House and working on stablecoin legislation. CoinDesk previously reported that Nxum received millions of dollars for services connected to a political action committee largely funded by Cantor Fitzgerald, Tether’s US financial partner.
What Happens Next?
Trump recently appointed former SEC Chairman Jay Clayton to oversee artificial intelligence initiatives, without a cryptocurrency mandate. Although regulators continue developing digital asset rules, the absence of a named White House coordinator could complicate industry engagement and future legislative negotiations.
Also Read: Tether Paid USD 6.3M to Firm Linked to Former Trump Crypto Adviser Bo Hines
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