Coinbase Highlights Impact of Bo Hines’ Departure from White House Crypto Role

Bo Hines, the Executive Director of the White House Crypto Council, resigned on August 9, 2025, to return to the private sector. His tenure was marked by significant strides in U.S. cryptocurrency policy, including the establishment of Trump's Bitcoin strategic reserve and the enactment of the GENIUS Act for stablecoin regulation. Hines also oversaw the creation of a detailed 166-page report on digital asset policy, setting a strong foundation for future regulatory frameworks. His successor, Patrick Witt, is expected to continue advancing these initiatives. This transition comes at a pivotal time for the crypto industry, with Coinbase and other exchanges closely monitoring potential policy shifts.

Bo Hines Resigns from White House Crypto Role: Patrick Witt Named Successor

Bo Hines, Executive Director of the White House Crypto Council, stepped down on August 9, 2025, announcing his return to the private sector. His tenure saw significant advancements in U.S. crypto policy, including the implementation of Trump's Bitcoin strategic reserve and the passage of the GENIUS Act for stablecoin regulation.

Hines' leadership produced a comprehensive 166-page report on digital asset policy, shaping taxation and banking frameworks. Coinbase CEO Brian Armstrong publicly acknowledged his contributions, reflecting broad industry appreciation for his work.

Harvard Endowment Allocates $116M to Bitcoin ETF, Leading Institutional Charge

Harvard University's $116 million investment in BlackRock's iShares bitcoin Trust (IBIT) marks a watershed moment for institutional crypto adoption. The Ivy League endowment now holds more Bitcoin exposure than positions in Alphabet or NVIDIA, with IBIT ranking as its fifth-largest single investment.

A cascade of elite universities follows Harvard's lead. Brown University holds $13 million in IBIT, while Emory University pioneered academic crypto investments with early stakes in Grayscale's Bitcoin Mini Trust and Coinbase. The University of Austin has gone further, establishing a dedicated $5 million Bitcoin endowment fund.

BlackRock's IBIT continues its meteoric rise, with assets under management surging 34.5% to $86.3 billion since December 2024. This growth trajectory underscores mounting institutional confidence in Bitcoin as a Core portfolio holding.