The Executive Director of the White House Crypto Council, Bo Hines, is reportedly stepping down from his position to return to the private sector.
It marks a significant shift in the Trump administration’s cryptocurrency policy leadership.
Bo Hines To Step Down After 8 Months Leading Trump’s Crypto Council
Hines has been a central figure in shaping the Council’s stance on digital assets, stablecoin regulation, and blockchain innovation.
His tenure, which started in December, included navigating complex debates over crypto’s role in financial markets, consumer protection, and national competitiveness.
While Hines will relinquish his day-to-day leadership duties, he will remain involved with the administration as a special government employee, focusing on artificial intelligence initiatives.
In this capacity, he is expected to work alongside entrepreneur and venture capitalist David Sacks, a notable figure in both the tech and policy arenas, as the White House accelerates its AI strategy. Eleanor Terrett, host of Crypto America podcast, reported the leadership transition.
SCOOP: @BoHines, Executive Director of the White House Crypto Council, is stepping down to return to the private sector.
Hines, who previously worked as a partner at a growth equity firm before joining the Trump administration, will remain on as a special government employee…
It comes at a critical time for the crypto industry, with regulatory clarity still a work in progress and global jurisdictions moving ahead with frameworks for digital assets. With all these in the pipeline, the White House Crypto Council plays a key role in coordinating policy across federal agencies.
Hines’ deputy, Patrick Witt, is expected to assume the role of Executive Director. Witt, a well-regarded policy strategist with deep knowledge of both financial markets and emerging technologies, has worked closely with Hines on the Council’s agenda.
While his appointment signals a degree of continuity, his leadership style and policy emphasis could still bring subtle shifts.
Hines’ move reflects a growing trend of high-profile public sector leaders returning to private industry, often leveraging their government experience in advisory, investment, or executive roles.
It also highlights the increasing overlap between the crypto and AI policy spheres, two areas where technological innovation is outpacing regulatory adaptation.
The White House has not yet confirmed the official date of the transition, but sources indicate it is expected to occur in the coming weeks.
A lot happened this week in crypto, marking developments expected to continue shaping the industry. Important headlines came from administrative decisions, ecosystem developments, and analysts probing the market outlook.
In case you missed it, the following is a roundup of some of the most important developments in the crypto market this week.
XRP Lawsuit’s Jay Clayton Became New SDNY Attorney
“Trump’s former SEC Chair Jay Clayton has taken his position as interim US attorney for the Southern District of New York. He will serve for up to four months until confirmed by the Senate or appointed by Manhattan federal judges,” former Fox Business reporter Eleanor Terrett reported.
The move came as Democratic leaders in the Senate reportedly hinted at blocking Clayton’s nomination. Trump’s move to install him as interim could see Clayton avoid the Senate confirmation process.
Clayton is the legal expert who initially filed the longstanding legal action between the SEC and Ripple. As it happened, Clayton filed the lawsuit on December 22, 2020, and resigned the next day in what will be remembered as a “parting shot” for the agency.
Pi Network Pioneer Frustration Over Ambiguous Roadmap
Another crypto incident this week concerned Pi Network pioneers. As BeInCrypto reported, the controversial project released its Mainnet Migration Roadmap. However, it failed to impress pioneers as it lacked key details.
Specifically, several gaps sparked concerns, including failing to disclose how many Pioneers remain in the queue. Similarly, it was unable to show the network’s daily migration capacity. The absence of these figures makes it impossible for users to predict when their migration will occur.
Further, opaque criteria for node rewards and the UI’s “Transferable Balance” underestimating actual migrated amounts raised flags. Pi Network also offers no audit or error‑resolution process for users who spot mismatches in their historical mining data, exacerbating the fears.
“I thought we were mining all of these PI coins this whole time? I thought the security circles were the Consensus Mechanism. It kinda seems to me like there isn’t a blockchain, and never was one. What kind of “Blockchain protocol” would “Require” all tokens to be minted at genesis?” one community member wrote.
Pi Network (PI) price performance. Source: CoinGecko
Data on Coingecko shows PI coin was trading for $0.6539 as of this writing, up by a modest 1.1% in the last 24 hours.
Bitcoin Cycle Unfolds Noticeably Different From Previous Ones
More interestingly, BeInCrypto reported a concerning shift: this cycle is unfolding remarkably differently than the past ones post-halving.
In previous cycles, BTC price tended to rally aggressively months after the Bitcoin halving. The post-halving period saw strong upward momentum and parabolic price action.
This trend was largely driven by retail enthusiasm and speculative demand, which proved most pronounced from 2012 to 2016 and 2016 to 2020.
Things are happening differently in the current cycle. Instead of accelerating after the halving, the price surge began in October and December 2024, driven by Bitcoin ETF (exchange-traded funds) hype. This was followed by consolidation in January 2025 and a correction in late February.
PancakeSwap Announces CAKE Tokenomics Date
This week in crypto, PancakeSwap announced the official date for its CAKE tokenomics, April 23. As BeInCrypto reported, key changes included the removal of veCAKE, staking, and revenue sharing, with 5.3 million CAKE to be burned annually to curb supply.
However, there was also controversy as Cakepie DAO pushed back against veCAKE removal. Several developers and community members believe CAKE Tokenomics 3.0 will benefit the project in the long term.
“At its core, CAKE Tokenomics 3.0 defends true value and protects CAKE holders by strengthening long-term fundamentals—such as aggressively cutting emissions to accelerate deflation and sustainably grow value,” Chef Philip said.
Meanwhile, others voiced strong concerns on X (Twitter), criticizing the decision to eliminate veCAKE. Among them was Cakepie DAO, one of the largest veCAKE holders, who called it non-transparent and potentially damaging to projects built around that model.
Against this backdrop, PancakeSwap resorted to a $1.5 million CAKE compensation plan.
“PancakeSwap is willing to provide 1.5M USD in CAKE to CakePie DAO primarily used to compensate CKP Holders if CakePie DAO enables mCAKE holders to redeem 1:1 back to CAKE and opens the redemption page in a timely manner if the proposal passes. Detailed plans will be announced once the mirror proposal on CakePie is completed,” the Head Chef of PancakeSwap wrote.
Data on CoinGecko shows Pancake’s CAKE was trading for $2.12 as of this writing, up by nearly 10% in the last 24 hours.
Zora Airdrop and Token Launch Announcement
Adding to the list of the many events that happened this week in crypto, Zora Network announced that it would airdrop 1 billion ZORA tokens (10% of the total supply) on April 23. The tokens would reward early platform users across two snapshot periods.
As it happened, the crypto airdrop happened in style, sparking confusion as it lacked an official checker or claim site. Users were required to go to the contract address and check their allocations.
Speaking to BeInCrypto, Jesse Pollak, the creator of the Base blockchain, said that one must not understand anything about crypto or the underlying infrastructure before posting on Zora. He also defended the value of content coins, emphasizing their potential for creators despite volatility.
Pi Network’s PI token seems to have entered a consolidation phase, as the price action has leveled off. Since April 16, the token has faced resistance at $0.66 while finding support at $0.60, creating a narrow trading range.
This signals a period of indecision in the market, with neither PI buyers nor sellers taking full control.
PI’s Price Action in Limbo
Readings from PI’s Aroon indicator confirm the recent stagnation in its price. As of this writing, the token’s Aroon Up Line (yellow) is at 0%, while its Aroon Down Line (blue) is in decline at 14.29%.
The Aroon indicator identifies market trends and determines whether a trend is strong or weak.
A 0% reading on the Aroon Up Line suggests that PI has not reached a new high recently, signaling a lack of upward momentum. Meanwhile, the Aroon Down Line’s decline to 14.29% indicates that the token has not been experiencing significant downward pressure either.
This trend suggests a balanced market, where neither bulls nor bears are taking the lead. The setup confirms that PI is in a consolidation phase, with a breakout in either direction dependent on shifts in market sentiment.
Further, the steady decline in PI’s Average True Range (ATR) since early March confirms the decrease in its market volatility and the shift towards consolidation. At press time, this indicator stands at 0.07.
The ATR indicator measures market volatility by calculating the average range between the high and low prices over a set period. When it falls like this, it indicates a decrease in market volatility, suggesting that price movements are becoming less erratic.
This often signals a period of consolidation or indecision in the market, as traders await a potential breakout or shift in direction. For PI, this is evident as both buyers and sellers hesitate, waiting for a catalyst to drive their next moves.
Will Bullish Momentum Drive PI to $1 or Will Bears Retake Control?
A breakout—whether to the upside or downside—could signal the start of a new trend, making PI a token to watch in the coming days. If bullish pressure soars and demand for the altcoin spikes, its price could witness a rally and attempt to break above the resistance at $0.66.
A successful breach of this level could propel PI’s price to $1.
SCOOP: @BoHines, Executive Director of the White House Crypto Council, is stepping down to return to the private sector.
