Bo Hines, the executive director of US president Donald Trump’s White House Crypto Council, announced he is stepping down on Saturday.

Hines, who was appointed by the president to lead the advisory group in December 2024, said he is stepping down to rejoin the private sector and thanked the crypto community for its “unwavering” support. He wrote on Saturday:

“Serving in President Trump’s administration and working alongside our brilliant AI & Crypto Czar, David Sacks, as Executive Director of the White House Crypto Council, has been the honor of a lifetime. Together, we have positioned America as the crypto capital of the world.”

Although a successor has not yet been named, independent crypto reporter Eleanor Terrett said that Hines’ deputy director, Patrick Witt, will likely be appointed to the position. 

The White House Crypto Council published a comprehensive report proposing a regulatory action plan for digital assets in the US in July. Although the advisory group has been instrumental in guiding policy efforts, critics say the council underdelivered on the strategic BTC reserve.

Related: Donald Trump to get on with Bitcoin reserve ‘in short order’ — Bo Hines

Hines advocated for the accumulation of BTC through budget-neutral strategies

President Trump signed an executive order establishing a Bitcoin strategic reserve and a national crypto stockpile in January. However, the order limited how the government could acquire additional BTC.

The executive order prohibits the federal government from selling any of the US government’s accumulated BTC and directs the Treasury Department and the Commerce Department to find “budget-neutral” strategies to accumulate more of the digital currency.

Budget-neutral strategies mean that the only way the US government can acquire new BTC for the reserve is through asset seizures or ways that do not create additional burdens on the US public budget.

In March, Hines suggested that the US government should revalue its gold holdings, which are priced at $42.22 per troy ounce, while gold trades at about $3,400 per ounce on the spot market.

A portion of the revalued gold could then be converted to BTC, increasing the size of the national Bitcoin reserve, without creating a budget expense.

Magazine: Crypto has 4 years to grow so big ‘no one can shut it down’: Kain Warwick, Infinex

]]> https://earlybirdsinvest.com/bo-hines-director-of-the-white-house-crypto-council-steps-down/feed/ 0 52392 https://earlybirdsinvest.com/pakistan-building-bitcoin-super-team-with-michael-saylor-joining-cz-on-crypto-council/ https://earlybirdsinvest.com/pakistan-building-bitcoin-super-team-with-michael-saylor-joining-cz-on-crypto-council/#respond Mon, 16 Jun 2025 14:58:35 +0000 https://earlybirdsinvest.com/pakistan-building-bitcoin-super-team-with-michael-saylor-joining-cz-on-crypto-council/

Michael Saylor, the billionaire Bitcoin advocate and executive chairman of Strategy, is backing Pakistan’s state-led Bitcoin pivot, according to new footage and media reports emerging from Islamabad.

A call with top officials marks the latest escalation in Pakistan’s plan to formalize a Strategic Bitcoin Reserve (SBR).

The video footage, posted on X by Finance Ministry media officer Hamid Raza Wattoo, shows Saylor with Finance Minister Muhammad Aurangzeb and Minister of State for Blockchain and Crypto Bilal Bin Saqib. The meetings follow Pakistan’s public announcement of the SBR on 28 May at the Bitcoin 2025 conference in Las Vegas.

Saylor’s outreach aligns with his long-standing call for sovereign Bitcoin reserves. While he has previously lobbied U.S. policymakers to adopt a Bitcoin strategy, his Islamabad support signals an interest in showcasing Pakistan as a geopolitical proof of concept. He is reportedly becoming an official advisor to the government’s Bitcoin reserve plan via the Pakistan Crypto Council.

Binance founder Changpeng “CZ” Zhao was also appointed a strategic adviser to the council in early April. His remit includes steering blockchain infrastructure, shaping the regulatory framework, and mentoring national digital-asset initiatives. This gives Islamabad a direct line to the world’s largest exchange as it pursues the Bitcoin reserve plan.

Pakistan’s reserve plan, championed by Bin Saqib, was introduced as a state initiative with plans to acquire Bitcoin using state assets and mine additional BTC using domestic energy resources. The Pakistan Crypto Council (PCC), which Bin Saqib also leads, has proposed allocating up to 2 GW of surplus energy to power mining facilities and data centers.

IMF tensions and energy politics

The plan has sparked tensions with international lenders. The IMF raised concerns about grid stress and fiscal strain if 2 GW were diverted for mining. Pakistan is currently seeking a new bailout agreement, and its power infrastructure is considered fragile.

Despite this, the PCC has continued promoting the reserve as a path toward “digital non-alignment”, leveraging Bitcoin to reduce dependence on the U.S. dollar and traditional credit channels. A PCC delegation even pitched the reserve to Donald Trump’s crypto-aligned economic team on 4 June in Washington.

Pakistan’s crypto policy remains complex. While the reserve is government-led, general crypto trading remains technically illegal under the State Bank of Pakistan (SBP) guidelines. The government is reportedly preparing a Digital Assets Authority bill, which may offer legal clarity when Parliament’s Standing Committee on Finance reconvenes.

Regional analysts are also watching closely. Pakistan’s pivot could ripple across South Asia. However, the move could unsettle major creditors like China, which has poured billions into Pakistan’s energy sector through the China-Pakistan Economic Corridor (CPEC).

What’s next?

It remains to be seen how Saylor plans to assist in an ongoing role in implementing the reserve and whether he will be working directly with CZ.

In the meantime, the SBR initiative is advancing quickly. With a sovereign reserve, surplus energy, and now the world’s most prominent Bitcoin evangelist in the picture, Pakistan is testing whether a fragile economy can hedge its bets with digital gold.

Mentioned in this article

The Bitcoin Conference in Las Vegas, scheduled for the final week of May, includes several notable politicians scheduled to be guest and speakers, including Bitcoin advocate Sen. Cynthia Ramis (R-WY). It also features Trump’s so-called “AI and Crypto Czar,” David Sacks, and “Executive Director of the White House’s Presidential Advisory Council of Digital Assets.”

This year, you can see the spotlight on the stage straight, even if the less standard, almost other world contingent people, at least not even appear in the audience. Like a fire from the sky, an unexpected $3,000 Bitcoin donation that didn’t ask for crashing in Roswell, New Mexico earlier this year will again rob the US Congress itself, clearly (following President Donald Trump’s orders), or whether the U.S. Congress itself will once again rob the city level or not, whether it will respond to a history call to the city level or otherwise, the first strategic Bitcoin reserve.

There are a few things you might not expect in Roswell – one of the world’s most famous dairy agriculture and one of the world’s largest mozzarella cheese factories. The aerospace and aviation industry, featuring the famous “Aircraft Cemetery,” which once housed Elvis Presley’s personal small plane, “Hound Dog II,” for 35 years. Vibrant arts, museums and cultural scenes – also a thriving tourism industry built around what Roswell is Really Known: Flying saucer.

However, Roswell is truly known all over the world for his 1947 UFO Incident. In early July 1947, a one-time flight-purpose object of perhaps unknown origin crashed and destroyed, landed in Corona near New Mexico, later recovered, 509th in the Roswell Army Air Field, brought to a WWII military base, with the only US nuclear bomb serving any service.

There are suspicions of the recovered craft and its pilots and passengers – reports of strangely formed bodies persist, but speculation about whether it is still an extraterrestrial place or the result of a US military experiment is still furious.

At the time, the local newspaper, Roswell Daily Records, has been owned by the family since 1891 and is still in print today, but reported headlines that can be seen all over the world.

RAAF captures flying saucers at a ranch in the Roswell area

Readers now know that daily records continued with retraction, and recited the military’s revised claim that the crashed vehicle was “just” a high altitude weather balloon. Donald Burleson, a former professor of mathematics in Eastern Rothwell of Cryptocurrency, revealed a 21st century exam of zoom-in photos from a 1947 “Flying Saucer” staged press conference. Burleson is also a published author, and for 25 years he wrote “Looking,” one of Daily Record’s recurring columns at UFOS.

The city of Roswell hosts the International UFO Museum and Research Centre, which opened in 1992 and attracted over 220,000 visitors a year, executive director Karenjara Miro told The Associated Press in a 2023 interview marking the museum’s five million visitors. Roswell also hosts its annual UFO Festival. This, according to the city’s website in 2023, “had a direct financial impact of $510,205 on Roswell…”

Strange people in strange land

Roswell generally has newspapers that are odd today, including myself. Nashville’s port with a strange missionary call, last year, records took me as their in-house evening copy editor – desks, landlines, sick pay, and everything…it’s kind of surreal. (The desk is said to be from the Army Air Base in World War II. And a chair? On the third day, I brought it myself.)

From Jermaine until today, I also own Bitcoin certification and have been orange people for years. The newspaper ultimately allowed me to contribute to my second call, through my contribution as a writer, to contribute to the record through the Sunday column I began writing about Bitcoin. We are honored to have been featured just aggressively to record the entire “story arc” of President Trump’s first term anti-Bitcoin hostility, as well as the 2024 reversal in the October 2024 opinion column and Trump’s unexpected “not selling Bitcoin.” Campaign at the 2024 Nashville Bitcoin Conference. In “World War I Bitcoin,” we discussed the strategic races that are occurring among multiple countries currently competing to accumulate and min “all the remaining bitcoins.”

And through that, I didn’t even fire. still. But I was in the Bitcoin news industry, looking at the trends and proposed Roswell’s strategic Bitcoin reserve in January. Because the city received $3,000 in Bitcoin donations from an anonymous out-of-state reader of a newspaper column. Whether government “approval” or the recognition of the Bitcoin media industry, I have confirmed blockchain transactions since January 3, 2025. period.

Who manages and manages it because they are still holding onto it, but asks the others, “Are we bitcoiners?”

But OK, this idea is being contemplated by the councilman who gave me the time because I want to give me a donation to the city and want to ask for personal and corporate sponsorship from there (so that I don’t create new city expenses or taxes). We are struggling and are honest.

Of course, the city council can be tough nuts, of course, but Bitcoin is a new and stump for many, but Roswell City Attorney Hess Intema recently kindly responded to me in a bid to accept the gift of Bitcoin. Bitcoin included.

Perhaps to aid the decision-making process, Bitcoin Magazine has extended the invitation to all 10 members of the Roswell City Council, and Mayor Timothy Jennings has invited the council to participate in the event, whether or not the council approves custody and management of the city-owned Bitcoin Reserve. Mayor Jennings’s office politely replied that he could not attend those dates, but at least the other councillor Christina Arnold promised to “think about it.” Councilman Ed Heldenbrand and city attorney Hess Intema are excited to be taking Roswell’s next step along with Arnold.

The Roswell City Council then met on Thursday, May 8th at 6pm Mountain time, with the meeting being livestreamed via YouTube and whether the topic of the proposed donation will be discussed remains unclear in reporting times. But before this meeting, one of the city’s finance committees scheduled a meeting with me and Hess this week to discuss the “steps to accept Bitcoin.”

“…It remains a rich state to try and frontrunn the market to secure New Mexico,” state Sen. Antony Thornton (R-NM, Dist. 19) announced Strategic Preparation Bill, SB 275, at a recent legislative meeting. The bill “represented narrowly” in 5-4, Thornton later said.

This week, Thornton responded to me in detail for further comment on the Bitcoin Reserve. value.

“However, the rarity of Bitcoin and its digital mobility could become one asset used worldwide as the best place to store long-term capital. ”

It’s not at all surprising that Roswell residents are among the first in the nation to respond to the Bitcoin siren song.

Roswellians are used to being used to random new technologies of mystical origins that emerge from the sky and disrupt all social order, industries and established financial infrastructure, but there may be unfair advantages over others in “gracking” Bitcoin, as these “incidents” are already part of the collective mind.

Readers who want to learn more about Bitcoin may find themselves creepyly drawn to Las Vegas this May to join additional events throughout the week, in addition to the two-day conference lineup for the Las Vegas Bitcoin Conference 2025.

Disclosure: Both authors hold Bitcoin as a savings asset, do not believe in aliens, and have failed to hold Roswell’s public office three times. Therefore, this content may contain unintended financial and/or political biases related to the subject and is the opinion of the author.

This is a guest post by Guy Malone. The opinions expressed are entirely unique and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.

World Liberty Financial (WLFI), a decentralized finance (DeFi) project endorsed by the Trump family, has signed a Letter of Intent (LOI) with the Pakistan Crypto Council to promote blockchain adoption and DeFi growth across Pakistan, TechJuice reported.

The agreement was formalized on April 26 during a high-level meeting between WLFI co-founders Zak Folkman, Zach Witkoff, and Chase Herro, alongside Pakistan’s Prime Minister and senior government officials.

The partnership aims to accelerate blockchain innovation by establishing regulatory sandboxes to test blockchain-based financial solutions.

WLFI Partnership with Pakistan Targets DeFi Growth

Key areas of collaboration include advancing DeFi protocols, exploring tokenization of real-world assets like real estate and commodities, expanding stablecoin use for remittances and trade, and offering strategic guidance on blockchain infrastructure and regulatory frameworks.

“Pakistan’s youth and technology sector are our greatest assets. Through partnerships like this, we are opening new doors for investment, innovation, and global leadership in the blockchain economy,” stated Finance Minister Muhammad Aurangzeb.

With over 25 million active crypto users and approximately $300 billion in annual crypto transactions, Pakistan is emerging as a significant player in the digital economy.

The country’s youthful demographic—over 64% under the age of 30—positions it well for rapid blockchain adoption.

Bilal Bin Saqib, CEO of the Pakistan Crypto Council, highlighted that the collaboration is designed to empower Pakistan’s young population and integrate the country into the evolving landscape of global finance.

Bin Saqib also recently joined WLFI as an advisor, further strengthening ties between the two entities.

Earlier this month, Binance co-founder Changpeng “CZ” Zhao was appointed Strategic Advisor to the Pakistan Crypto Council, signaling growing international interest in Pakistan’s crypto sector.

These developments follow reports from The Wall Street Journal suggesting that the Trump family has been in talks to acquire a stake in Binance.US, potentially through WLFI.

Steve Witkoff, Trump’s chief negotiator and father of WLFI co-founder Zach Witkoff, reportedly led discussions with Binance.

Meanwhile, WLFI recently launched its USD1 stablecoin on BNB Chain and Ethereum, following a $550 million public token sale—marking another milestone in its expanding DeFi footprint.

Pakistan Signals Policy Shift with Plans for National Crypto Council

Pakistan’s Finance Ministry is taking steps toward formal cryptocurrency regulation, which could significantly change the country’s historically cautious stance on digital assets.

In a meeting last month with an international delegation focused on crypto investment and blockchain development, Aurangzeb emphasized the importance of exploring the sector’s potential rather than dismissing it outright.

The delegation included notable figures such as Gentry Beach Jr., a key investor who has pledged $1 billion in funding to Pakistan, along with tech entrepreneur Nikita Goldsmith, blockchain consultant Alex Malkov, and Cosmic Wire CEO Jerad Finck.

The proposed National Crypto Council would function as a government advisory body, bringing together regulators, policymakers, and industry stakeholders to guide the development of cryptocurrency and blockchain regulations.

This marks a clear shift from previous government positions. Until recently, both the State Bank of Pakistan and former finance officials firmly opposed cryptocurrency adoption, citing financial risks and regulatory uncertainty.

The post Trump-Backed WLFI Signs LOI with Pakistan Crypto Council to Boost Blockchain Adoption appeared first on Cryptonews.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a major win for Pakistan’s cryptocurrency market, Changpeng Zhao (CZ), the co-founder and former CEO of Binance, the world’s largest crypto exchange, has been appointed as a strategic adviser to the Pakistan Crypto Council (PCC). 

Binance Co-Founder To Boost Crypto Innovation

The announcement was made by the finance ministry on Monday, following Zhao’s meetings with key PCC members, including Federal Minister for Finance Muhammad Aurangzeb, who chairs the council, and CEO Bilal Bin Saqib. 

According to local media reports, Changpeng Zhao also held discussions with the Prime Minister and Deputy Prime Minister of Pakistan during his visit to Islamabad over the weekend.

The PCC, established by the government just last month, aims to create a regulatory framework for cryptocurrency trading, a move intended to attract international investment. 

Although cryptocurrencies such as Bitcoin (BTC) are not officially regulated in Pakistan, they are not illegal either. Since January 16, 2021, the State Bank of Pakistan has not authorized any entities to conduct transactions involving virtual currencies, coins, or tokens.

“This is a landmark moment for Pakistan; we are sending a clear message to the world: Pakistan is open for innovation,” Senator Muhammad Aurangzeb stated during the announcement. 

The Senator emphasized that with Binance’s former CEO on board, the council aims to accelerate its vision of positioning Pakistan as a regional leader in Web3, digital finance, and blockchain technology.

Zhao’s Vision For Pakistan

As a strategic adviser, Zhao will reportedly provide key guidance on various aspects, including regulation, infrastructure development, education, and the adoption of cryptocurrencies. 

His role will involve close collaboration with both the Pakistani government and the private sector to create a compliant, inclusive, and globally competitive crypto ecosystem.

Zhao highlighted the potential of Pakistan in terms of cryptocurrency growth, stating, “Pakistan is a country of 240 million people, over 60 percent of whom are under the age of 30. The potential here is limitless.”

Despite his recent legal challenges—having stepped down as Binance CEO and reached a $4.3 billion settlement with US authorities over anti-money laundering violations—Zhao remains one of the most influential figures in the crypto industry. 

As of January 2025, Forbes estimates his net worth at approximately $66.6 billion, making him the second-richest Canadian and the 24th richest person in the world.

Zhao’s career in cryptocurrency began in 2013 as part of the team that developed Blockchain.info. He later served as Chief Technology Officer for OKCoin before launching Binance in July 2017. 

Within just eight months, Binance became the world’s largest cryptocurrency exchange by trading volume, a feat accomplished after raising $15 million through an initial coin offering (ICO).

As of now, Binance Coin (BNB), trades at $564, recording an 11% price drop over the past two weeks.  

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Former Binance CEO Changpeng Zhao has reportedly been appointed to advise Pakistan on Web3 and blockchain technology.

Local media in Pakistan is reporting that CZ has joined the Pakistan Crypto Council as a strategic advisor for the country of 247 million.

Says Senator Muhammad Aurangzeb, Finance Minister of Pakistan, of CZ’s involvement,

“This is a landmark moment for Pakistan.

We are sending a clear message to the world: Pakistan is open for innovation.

With CZ onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchain-driven growth.”

Bilal Bin Saqib, CEO of the Pakistan Crypto Council said,

“Pakistan is opening its doors to the future of finance.

And who better to guide us on this journey than CZ — a pioneer who built the world’s largest crypto exchange and changed the way billions think about financial freedom.”

According to CZ, Pakistan offers “limitless” potential to crypto.

Last week, the Binance founder also inked a deal to advance crypto technologies in the Central Asian nation of Kyrgyzstan.

Said CZ at the time,

“I officially and unofficially advise a few governments on their crypto regulatory frameworks and blockchain solutions for gov efficiency, expanding blockchain to more than trading. I find this work extremely meaningful.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The Trump Administration’s embrace of crypto is reportedly putting international financial stability at risk, says Francois Villeroy de Galhau, a member of the European Central Bank’s (ECB) Governing Council.

Villeroy de Galhau tells the French news outlet La Tribune Dimanche that the US “risks sinning through negligence,” according to Bloomberg.

“Financial crises often originate in the United States and spread to the rest of the world. By encouraging crypto-assets and non-bank finance, the American administration is sowing the seeds of future upheavals.”

The ECB official, who serves as governor of France’s central bank, also argues that Europe isn’t at risk of a banking crisis because the European Union (EU) is doing a superior job of supervising crypto.

The ECB has also been pushing for a digital euro to counter US President Donald Trump’s embrace of dollar-pegged private sector stablecoins.

ECB board member Piero Cipollone said at a conference in January that Trump’s new executive order on crypto could drive people away from banks.

“I guess the key word here (in Trump’s executive order) is worldwide. This solution, you all know, further disintermediates banks as they lose fees, they lose clients… That’s why we need a digital euro.”

However, vocal opposition to the ECB’s digital euro project swelled after the institution’s payment system crashed last month.

TARGET2 (T2), the ECB’s real-time gross settlement system, went down in late February, which prevented payments from being processed for several hours.

German MP Markus Ferber, a member of the European People’s Party, says the outage was “a blow to the ECB’s credibility.”

“People will ask legitimate questions how the ECB will be able to run a digital euro when they cannot even keep their day-to-day operations running smoothly.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The government of Pakistan has established the Pakistan Crypto Council (PCC) to oversee the integration and use of blockchain technology and digital assets into the nation’s financial landscape. The initiative, announced in a statement by the Finance Division, aims to regulate, foster, and incorporate crypto innovations into Pakistan’s economic framework.

The initiative marks an about-turn from the country’s previous stance on digital assets, which stated they could not be legalized due to their use in terror financing. The establishment of the PCC positions Pakistan as a potential key player in the global shift to blockchain technology and digital finance at a time when the White House has given the green light to a strategic Bitcoin reserve.

The PCC’s formation follows Bilal bin Saqib’s appointment as Chief Advisor to the Finance Minister for the council. The appointment “marks a significant step forward in Pakistan’s commitment to embracing the transformative potential of digital currencies, ensuring financial security, mitigating risks, and effectively assessing the impact of cryptocurrencies on Pakistan’s economy,” commented a spokesperson for the Finance Division.

Finance Minister Muhammad Aurangzeb will chair the council, leading a diverse board that includes high-ranking officials from key financial and regulatory bodies. This leadership structure, comprising the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Federal Law and IT Secretaries, is designed to ensure a comprehensive approach to regulatory oversight, financial stability, and technological advancement.

Appointed as the council’s CEO, Bilal bin Saqib highlighted that the PCC’s mission extends beyond regulation, emphasizing the council’s aim to create an environment conducive to the growth of blockchain and digital finance and a competitive player in the global digital economy.

The PCC’s agenda includes developing clear regulatory guidelines for crypto adoption, collaborating with international crypto and blockchain organizations, and promoting responsible innovation. The council will also focus on consumer protection and financial security through a robust legal and compliance framework.

Pakistan currently ranks among the top countries for crypto adoption, with an estimated 20 million active crypto users and over $20 billion in crypto transactions. The country’s significant remittance market, valued at $35 billion annually, also stands to benefit from increased crypto adoption.