President Trump Announces Members of His Cryptocurrency Board

President Donald Trump has officially announced the list of members of the newly established Presidential Advisory Council on New Digital Assets, also known as the 'Cryptocurrency Council'. The leader is Bo Hines, 29 years old, a graduate of Yale University and a former congressional candidate. He will serve as the Executive Director of the Council, working alongside Trump's 'Crypto Czar', David Sacks. The goal is to strengthen the dominance of the United States in the blockchain and digital asset field, while promoting innovation in an area that Trump believes will be "the foundation for our nation's technological progress". "I am thrilled to announce the amazing 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, secure U.S. technological dominance, and usher in the Golden Age of American Innovation!" Bo Hines: Trump's choice to lead the Cryptocurrency Council The appointment of Bo has attracted much attention, but Trump seems confident in his decision. Bo, who played football at Yale before earning a law degree at Wake Forest, brings a unique background to this role. In 2022, he ran for office as a Republican for the 13th congressional district of North Carolina but lost to Democratic candidate Wiley Nickel. While Bo's cryptocurrency holdings are not publicly disclosed, Trump made it clear that his trust in Bo stems from the potential for his high-risk role to yield results. Meanwhile, Sacks remains proud of his love for cryptocurrency. He first invested in Bitcoin two years after it was invented. "I will work with David to promote 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 will also be in line with Trump's broader technological ambitions, including advances in artificial intelligence and other advanced technologies. A team of technology stars Michael JK Kratsios has been appointed as the Director of the White House Office of Science and Technology Policy (OSTP) and will serve as the Assistant to the President for Science and Technology. She will also be a member of the Council. Kratsios graduated from Princeton and is a member of Stanford, and he is no stranger to Washington. In Trump's first term, he held the position of U.S. Chief Technology Officer, a position unanimously confirmed by the Senate. After that, he assumed the role of Deputy Minister of Defense in charge of Research and Technology, where he was awarded the Excellent Public Service Medal by the Ministry of Defense. Another member is Dr. Lynne Parker, who will serve in the administration as the Director of the President's Council of Advisors on Science and Technology (PCAST) and advisor to the OSTP Director. Parker was formerly the head of the National Artificial Intelligence Initiative Office. She holds a Ph.D. in Computer Science from MIT and played a significant role in shaping U.S. AI policy. Trump emphasizes the importance of PCAST, saying that this conference will bring together "the most brilliant minds in America in the field of science and technology". David Sacks will also serve as the chairman of PCAST, doubling his responsibility as a central figure in Trump's technology policy. Next is Sriram Krishnan, former Microsoft engineer and co-founder of Windows Azure, will serve as a senior policy advisor on Artificial Intelligence. Working closely with Sacks and Parker, Krishnan will help coordinate AI policies across the entire government. Opposite reaction of the cryptocurrency market This announcement comes at a time when the cryptocurrency market is in turmoil. Bitcoin is on track for its first weekly decline since Trump won the election. The currency has dropped more than 7% this week, to around $95,000 at the time of reporting, down from a record high of $108,000 on December 17th. Ether and Dogecoin have witnessed a more significant decline, with the broader cryptocurrency market index dropping by 10%. Analysts point to the firm tone of the Federal Reserve and their dismissal of Bitcoin as a key factor. However, Trump's staunch support for cryptocurrencies has made the market extremely optimistic 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 implement continue to benefit American families and businesses," Trump said today. He also proposed eliminating taxes on Social Security welfare benefits, providing 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 targeting the clean energy tax credits established under the Biden administration, which he believes have led to higher costs for consumers. 'We cannot allow these subsidies to distort our energy markets,' he said. He has proposed eliminating the “double tax” for Americans living abroad, simplifying their tax obligations and ensuring they are not penalized for their global ties. DYOR! #Write2Win #Write&Earn $BTC {spot}(BTCUSDT)