US ‘crypto council’ a ghost town, third-party tokenization hard sell

Homepage > News > Business > US ‘crypto council’ a ghost town, third-party tokenization hard sell TL;DR: Patrick Witt has left the White House Crypto Council, which is now unstaffed, and the WSJ reports that Tether paid $6.3 million to Bo Hines’ firm, Nuxum, while he led the Council. Meanwhile, the CFTC is fighting CME’s perpetual futures suit, a judge has refused to undo the CFTC-Gemini settlement, the SEC says enforcement lives on, and more companies are opting out of OKXICE tokenization. Key Takeaways: Patrick Witt left the White House Crypto Council on October 14, leaving it without staff. Bo Hines’ Tether ties preceded GENIUS passage: Tether’s $6.3 million Nuxum deal was signed in May 2025, while he was Council director. The CFTC is still trying to dismiss CME’s perpetual futures suit, arguing CME shows no real competitive injury. A judge rejected the CFTC-Gemini bid to undo their $5 million settlement. The SEC insists enforcement is still a thing, focusing on fraud and intentional misconduct. OKXICE tokenization objections are growing: nine firms have opted out, and Nasdaq says it will too. The White House’s ‘crypto council’ is currently unmanned, its former director...