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Meet Trump’s new adviser picks: a crypto PAC darling, a Fed critic, and Musk’s AI confidant

Meet Trump’s new adviser picks: a crypto PAC darling, a Fed critic, and Musk’s AI confidant

DLNewsDLNews2024/12/23 04:53
By:Kyle Baird

The new appointees will focus on digital asset oversight, economic policy, and AI strategy.

US President-elect Donald Trump’s latest advisor picks are in.

He chose Bo Hines, Stephen Miran, and Sriram Krishnan to take on roles in digital asset policy, economic strategy, and artificial intelligence in the upcoming administration.

Hines, a former congressional candidate backed by crypto political action committees, will head the newly created Presidential Council of Advisers for Digital Assets.

Miran, a critic of Federal Reserve policies, is set to lead the Council of Economic Advisers, while Krishnan, a venture capitalist with ties to Elon Musk, will oversee AI policy as a senior White House adviser.

“Together, they will create an environment where this industry can flourish, and remain a cornerstone of our nation’s technological advancement,” Trump said in his announcement.

The appointments align with Trump’s stance and comments on innovation and regulatory reform, with implications for the $3.3 trillion crypto market, US monetary policy, and the global AI race.

Bo Hines

Hines, a former North Carolina congressional candidate, rose to prominence during his 2022 campaign, where he became a favourite of crypto-linked PACs.

This included significant backing from Ryan Salame’s American Dream Federal Action PAC.

Salame is a former FTX executive serving a seven-year prison sentence for his role in the exchange’s collapse.

He was one of the largest donors to Hines’ campaign channelling substantial funds to support candidates viewed as aligned with the crypto industry’s interests.

Another group, the Crypto Freedom PAC, also contributed to Hines’ campaign.

If appointed, he would work closely with David Sacks, Trump’s pick to be crypto and artificial intelligence czar. Sacks, the former PayPal COO, is tasked with guiding policy on cryptocurrency and AI.

“I am thrilled to work alongside the brilliant David Sacks to ensure this industry will thrive and remain a cornerstone of our nation’s technological advancement,” Hines said in a statement.

Stephen Miran

Miran, an economist and vocal critic of Fed policies, will lead the Council of Economic Advisers.

Miran, who served in Trump’s Treasury Department during his first term, has been a fierce opponent of what he views as overreach by the Fed.

“Steve will work with the rest of my economic team to deliver a great economic boom that lifts up all Americans,” Trump wrote in a post.

Sriram Krishnan

If appointed, Krishnan, a former general partner at Andreessen Horowitz, would oversee artificial intelligence policy from the White House Office of Science and Technology Policy.

Krishnan has a close working relationship with Elon Musk, having helped restructure Twitter after Musk’s acquisition.

He is tasked with shaping AI innovation and regulatory policies.

His appointment signals the administration’s intent to dominate the global AI race, an industry expected to add $20 trillion to the global economy by 2030.

Crypto market movers

  • Bitcoin is down 1% in the past 24 hours to trade at $95,900.
  • Ethereum is also down 1% to trade at $3,340.

What we’re reading

Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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