In July, at a Bitcoin conference in Nashville, Tennessee, Trump Pledged to fire Gensler If re-elected, would probably get the loudest applause of the night. Trump said, “I will appoint an SEC Chairman who will build the future, not block the future.”
Last week, Gensler announced that he would resign From his office on January 20, the day of Trump's inauguration. Sources tell WIRED that representatives of the industry in which Gensler has become so infamous are now helping choose his successor.
The promise of an SEC overhaul was one of several promises Trump made to the crypto industry during the campaign. At the Nashville conference, they pledged to “build” a national one, cementing the US as the leading Bitcoin mining powerhouse.bitcoin reserves” and singing from the crypto hymn sheet, establish a framework for stablecoin businesses.
In June, Trump did Hosted crypto mining industry executives At his resort, Mar-a-Lago, in Florida. “We had a very long, in-depth discussion with him – and he was very interested in it. “He was very engaged and asked great questions,” says Brian Morgenstern, head of public policy at Bitcoin mining company Riot Platforms and a former official in the first Trump administration, who was in attendance.
Trump himself has started trying his hand in cryptocurrency. Over the summer, his campaign began accepting crypto donations and his sons Launched its own crypto platformWorld Liberty Financial, which he helped promote. last Thursday, The New York Times reported Trump's social media company Truth Social filed a trademark application for a crypto payment service called TruthFi.
Figures affiliated with the crypto industry have already been appointed to Trump's Cabinet. His choice as Commerce Secretary, Howard Lutnick, leads financial services company Cantor Fitzgerald, which manages assets for Tether, the operator of the world's largest stablecoin. Similarly, Vice President-elect J.D. Vance, Secretary-designate of the Department of Health and Human Services Robert F. Kennedy Jr., and Vivek Ramaswamy, co-leader of the new Department for Government Efficiency, have all expressed pro-crypto views.
“Based on what I have heard in private conversations, my view is that the incoming administration is taking its pro-Bitcoin and crypto campaign promises very seriously and intends to conduct a robust assessment of options for adaptation . [appointments to regulatory positions] “As much as they can,” says Christopher Callicott, managing director at Bitcoin-focused VC firm Trammell Venture Partners.
the price of bitcoin is reached record highThe coin is down $100,000 since Trump won re-election earlier this month.
“There are going to be very bright prospects on many different fronts throughout the industry,” Morgenstern says. “We have no reason to doubt President Trump.”