During that legislative process, Sacks stepped down from the czar role in March, leaving Witt and his deputy, Harry Jung, trying to manage the administration’s crypto stance. That was complicated by the fact that President Trump’s own crypto empire figured prominently in the talks, as Democrats demanded that senior government officials be blocked from personal crypto ties.
As the negotiations dragged further into the year — and closer to the elections — the White House offered some concessions that would have applied unprecedented ethics constraints on the president’s digital assets involvement, though Democrats concluded that the agreement didn’t go far enough.
Witt had confirmed in July that he had military-service commitments on the horizon with the Georgia National Guard, but he stayed to complete Clarity Act negotiations, even as his deputy left to join Hines’ Nxum. The legislation slammed into a political roadblock a month ago, failing to advance in a Senate floor vote before the chamber dispersed for a lengthy break leading up to next month’s elections.
Following rumors this week that Witt had already exited, he posted Wednesday night at around midnight to confirm his departure. He thanked agency chiefs and lawmakers that had helped with Clarity, saying that “with regulators and elected officials like you, I rest easy knowing the future of digital asset innovation in America is bright.” He said he’d be moving into the private sector.