Patrick Witt, the executive director of President Trump's council of advisers for digital assets, is leaving the administration. Witt announced his departure late Wednesday on the social platform X, calling his time in government "the privilege of a lifetime" and signaling a move to the private sector.
"I'm grateful to have done my part to unleash American innovation while in government, and I look forward to advancing that same mission in the private sector!" Witt wrote. A White House official confirmed that Witt's detail had expired, adding that crypto policy and the Clarity Act "will continue to be a priority for the President."
Witt, who previously served on Trump's transition team and held key roles at the Pentagon, took over the top crypto adviser post from Bo Hines. Hines left the administration last August, shortly after the GENIUS Act was signed into law.
The GENIUS Act, which established a regulatory framework for stablecoins—digital tokens pegged to stable assets like the U.S. dollar—was an early win for the crypto industry. But it addressed only a narrow slice of the broader market.
Witt led the push for more comprehensive legislation, the Clarity Act, which failed to advance in a key Senate floor vote last month. That defeat left the industry without a clear federal framework for most digital assets.
With Congress stalled, the Trump administration's regulators have moved to fill the gap. Both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have initiated their own crypto rulemaking efforts.
In his departure post, Witt thanked SEC Chair Paul Atkins, CFTC Chair Michael Selig, and other officials. "With regulators and elected officials like you, I rest easy knowing the future of digital asset innovation in America is bright," he wrote.
Witt's exit comes as the administration faces internal tensions over chief of staff Susie Wiles, though no connection has been reported. The crypto policy vacuum may also complicate the White House's relationship with industry leaders, who have pressed for clearer rules since the judge's order on taxpayer-funded ads highlighted the administration's legal battles.
Observers note that Witt's departure could slow momentum for crypto legislation, but the SEC and CFTC are expected to continue their independent rulemaking. The White House has not yet named a successor.
