President-Elect Donald Trump, due to be inaugurated on Monday, is set to appoint multiple pro-crypto candidates to key governmental and advisory positions. These appointments, alongside Trump’s positive stance on cryptocurrency and mounting involvement in the sector, are likely to mark a change in the government’s regulatory stance and policies.
Trump’s inauguration will include a ‘crypto ball’, a black-tie event celebrating him as the “first crypto president”. David Sacks, Trump’s appointed AI and Crypto Czar, will be hosting the event and it will be attended by many crypto professionals and enthusiasts. Trump himself is not scheduled to attend.
Donald Trump’s inauguration will include a “Crypto Ball,” with technology industry leaders celebrating him as "the first crypto president”. pic.twitter.com/88KdGQ1Iyf
— Documenting ₿itcoin 📄 (@DocumentingBTC) January 13, 2025
Recent reports have estimated Trump’s crypto holdings at over $9 million, spread across multiple coins. As well as regulatory changes in the government, Trump’s appointees and their pro-crypto stances are predicted to ease crypto-bank relations.
Who are Trump’s pro-crypto advisors?
Elon Musk – Department of Government Efficiency – Musk is the serial entrepreneur owner of Tesla, SpaceX, X, and several other companies. He is well known to be pro-crypto and recent statements made by himself and X CEO Linda Yaccarino suggest that crypto integration could soon be coming to the social media platform. Even the Department of Government Efficiency (DOGE) is a nod to dogecoin, which started as a memecoin but is now the seventh biggest crypto token in the world.
Howard Lutnick – Secretary of Commerce – the CEO of Cantor Fitzgerald, a New York brokerage firm that manages U.S. Treasuries for Tether stablecoin, has confirmed that he owns bitcoin. At the Bitcoin 2024 conference, he said: “Do I own bitcoin? Of course I do. Does Cantor Fitzgerald own bitcoin? A shedload of bitcoin.”
Scott Bessent – Treasury Secretary – a billionaire hedgefund manager. Bessent currently owns shares in a BlackRock bitcoin exchange-traded fund but plans on divesting his interests within 90 days of confirmation in order to avoid conflicts. He told Fox News in July that: “Crypto is about freedom and the crypto economy is here to stay. I think everything is on the table with bitcoin.”
Other pro-crypto appointees to Trump’s government include Vivek Ramaswamy, who will work with Musk at DOGE; David Sacks, who will lead the government’s AI and crypto strategy; Steve Witkoff, Middle East envoy; Trump’s sons Eric, Donald Jr and Barron; JD Vance, the vice president; and Paul Atkins, SEC chair.
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