Departing White House Digital Assets Council Aide Patrick Witt Says US Crypto Future Is Bright
Summary
- Patrick Witt, the former executive director, said he had formally announced his departure as head of the White House Digital Assets Advisory Council.
- He said he had advanced President Trump's vision of making the US the "crypto capital of the world" and that the future of digital-asset innovation in the US is bright.
- He said concerns are emerging that momentum behind the Clarity Act, a crypto market structure bill, could weaken because his successor has not yet been determined.
Forecast Trend Report by Period
Patrick Witt, former executive director of the White House Digital Assets Advisory Council, has formally announced his departure.
Witt wrote on X on October 15 that serving in the administration had been "the greatest honor" of his life. He said he had been "the luckiest man in the world" over the past two years, helping advance President Donald Trump's vision of making the US the "crypto capital of the world" in his role at the White House Digital Assets Advisory Council.
He said he could step down reassured because he is confident the future of digital-asset innovation in the US is bright. Witt added that he would share more about his next steps soon and said he is highly optimistic that the US is entering a new golden age of technological progress across multiple fields.
Witt is an official at the US Department of Defense and had been temporarily seconded to the White House Digital Assets Advisory Council. A key task during his tenure was work on the Clarity Act, a crypto market structure bill. He also coordinated between banks and the crypto industry to resolve disputes over stablecoin yield payments.
His successor remains unclear. Some have raised concerns that changes among key White House officials overseeing crypto policy could weaken momentum behind the Clarity Act.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul