Policy
White House Crypto Council Loses Last Staffer as Patrick Witt Exits Role
Patrick Witt has officially exited his role as the executive director of the White House Crypto Council, marking the end of the council's last known staff position. The White House confirmed this development on October 14, 2026, stating that Witt's temporary posting had concluded. Witt's departure follows a series of exits from the council, including deputy director Harry Jung in July and David Sacks earlier in March.
Witt, who had been in the position since August 2025, was responsible for coordinating the administration's digital asset policy, particularly focusing on the CLARITY Act. This legislation aims to establish a federal framework for cryptocurrency markets, but it has stalled in the Senate despite passing in the House over a year ago.
The timing of Witt's exit is particularly concerning as the administration's key crypto market bill remains unresolved. With no successor named, the continuity of U.S. crypto policy is now in question. The Blockchain Association acknowledged Witt's contributions, highlighting his role in advancing key digital asset initiatives.
As the White House Crypto Council finds itself without any staff, it raises the critical question of whether the administration still prioritizes the crypto industry, especially as the SEC and CFTC continue to draft regulations independently.
New Developments in White House Crypto Policy
- As of October 14, 2026, the White House is prioritizing the security and accounting of its existing Bitcoin holdings before considering any new purchases.
- The estimated Bitcoin holdings of the US government range between 319,000 and 328,000 BTC, valued at approximately $26 to $28 billion based on current market prices.
- Recent transfers of over $1 billion worth of Bitcoin suggest a consolidation into institutional-grade storage rather than liquidation.
- The Strategic Bitcoin Reserve, established by executive order on March 6, 2025, is exclusively funded by forfeited Bitcoin, marking a shift from previous practices of auctioning seized Bitcoin.
- Current policy prohibits the sale of deposited Bitcoin and requires any acquisition strategy to be budget-neutral, with no costs to taxpayers.
- No formal accounting of Bitcoin holdings has been published, and no budget-neutral acquisition plans have moved beyond discussion.
FAQ
Who was the last staff member of the White House Crypto Council?
Patrick Witt was the last staff member of the White House Crypto Council, serving as the executive director until his departure on October 14, 2026.
What was Patrick Witt's role in the White House Crypto Council?
Patrick Witt was responsible for coordinating the administration's digital asset policy, particularly focusing on the CLARITY Act, which aims to establish a federal framework for cryptocurrency markets.
What is the status of the CLARITY Act?
The CLARITY Act has stalled in the Senate despite passing in the House over a year ago, and its future remains uncertain following Witt's departure.
What does Witt's exit mean for U.S. crypto policy?
With no successor named and the council now without any staff, the continuity of U.S. crypto policy is in question, raising concerns about the administration's commitment to the crypto industry.
How has the Blockchain Association responded to Witt's departure?
The Blockchain Association acknowledged Patrick Witt's contributions, highlighting his role in advancing key digital asset initiatives during his tenure.