President-elect Donald Trump has made his interest in cryptocurrency clear and could be thinking about adding a White House “crypto czar” to his administration.
The incoming 47th president connected with crypto voters throughout his 2024 campaign and, with Bitcoin’s over-156% climb since this time last year, Trump is reportedly mulling adding someone to his administration who would lead in this area, Bloomberg reported.
“President-elect Donald Trump’s team is holding discussions with the digital asset industry about whether to create a new White House post solely dedicated to cryptocurrency policy, according to people familiar with the transition efforts,” the outlet reported Wednesday.
“Trump’s team is vetting candidates to serve in such a role, the people said,” Bloomberg noted, adding that the first-ever position could hold a senior White House staff role or be named “crypto czar.”
(Video Credit: Bloomberg)
On the campaign trail, Trump addressed a Bitcoin conference in July, visited New York City crypto bar PubKey in September, and met with cryptocurrency executives over the summer.
Trump spoke about creating a new crypto presidential advisory council and vowed during the presidential campaign to fire current Securities and Exchange Commission Chair Gary Gensler.
(Video Credit: PBS News)
The president-elect’s team has reportedly been interviewing prospective candidates as crypto allies have been traveling to Trump’s Florida home, Mar-a-Lago for talks.
“Former Coinbase Global Inc. and Binance.US executive Brian Brooks, who is also a potential candidate for SEC chair, met with Trump on Tuesday, according to people familiar with the meeting. Coinbase Global Inc. Chief Executive Officer Brian Armstrong also spoke with Trump this week, the people said,” Bloomberg reported.
This week, Trump picked billionaire businessman and cryptocurrency enthusiast Howard Lutnick to lead the Commerce Department.
Bitcoin is the currency of freedom , a hedge against inflation for middle class Americans,a remedy against the dollar’s downgrade from the world’s reserve currency, and the offramp from a ruinous national debt. Bitcoin will have no stronger advocate than Howard Lutnik.
— Robert F. Kennedy Jr (@RobertKennedyJr) November 16, 2024
“Bitcoin, the largest cryptocurrency by market value, touched a new all-time high of $94,000 in afternoon trading Wednesday and has advanced over 156% from its 52-week low of $36,815.63 in November 2023, as tracked by Dow Jones Market Data Group,” Fox Business reported. “The surge in price has lifted crypto exchange-traded funds, driving the assets of the largest, iShares Bitcoin Trust, to over $40 billion and lifting it to a record high.”
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Frieda@bizpacreview.com
Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida where she has been writing for the BizPacReview team since 2015.
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