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President-elect Donald Trump’s administration, featuring several pro-crypto appointees, is expected to influence U.S. policy on emerging technologies. The crypto industry, which has long faced regulatory challenges, hopes for a shift under Trump’s leadership.
Treasury Secretary nominee Scott Bessent, a hedge fund billionaire, has called crypto “freedom” and pledged to divest his holdings in a BlackRock Bitcoin ETF worth up to $500,000. Commerce Secretary pick Howard Lutnick, CEO of Cantor Fitzgerald, revealed his firm holds significant Bitcoin assets.
Elon Musk, appointed to lead government efficiency efforts, has championed Bitcoin and Dogecoin, impacting their prices with public remarks. His agency, DOGE, nods to the meme coin he supports. Musk’s Tesla held $184 million in digital assets as of September 2024.
Vivek Ramaswamy, set to work alongside Musk, integrates Bitcoin into investment strategies through Strive Asset Management. The firm recently filed for a crypto-focused ETF.
David Sacks, Trump’s AI and crypto czar, is tasked with establishing a legal framework for the industry. His firm Craft Ventures has invested in BitGo and Bitwise.
Middle East envoy Steve Witkoff launched World Liberty Financial, a crypto venture connected to Trump. Eric Trump and his brothers, Don Jr. and Barron, support the initiative, promoting the U.S. as a crypto leader.
Vice President-elect J.D. Vance holds significant Bitcoin investments, while his firm Narya supports crypto ventures. Rumble, backed by Tether, has also adopted Bitcoin reserves.
SEC Chair nominee Paul Atkins, known for deregulation advocacy, may adopt a crypto-friendly stance. Industry leaders see Trump’s administration as an opportunity to advance blockchain innovation while navigating conflicts of interest among nominees.
