Trump’s Potential Pro-Crypto Nominees Could Usher in “DeFi Renaissance” — Matrixport

Analysts at Matrixport have suggested that Donald Trump’s potential picks for key roles at the U.S. Treasury, Commerce Department, and possibly the Securities and Exchange Commission could usher in a crypto-friendly era. 

The crypto-based financial services platform released a report suggesting that the narrative in the country around Bitcoin as “digital gold” could evolve into a “DeFi renaissance.” The analysts noted that clearer regulations and a push to digitize the U.S. financial economy could position crypto as a major beneficiary of Trump’s policy agenda.

Trump’s nominees for these key positions include Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary and Scott Bessen as Treasury Secretary. Paul Atkins, a seasoned crypto lawyer and former SEC commissioner, is reportedly a top choice for the SEC Chair in January if Trump goes through on his promise to fire the current chair, Gary Gensler. These nominees are well-known for their vocal support for the crypto industry.

If appointed, these leaders were predicted to reshape financial policy and position the U.S. to better align with the dynamic and rapidly evolving cryptocurrency industry. The President-elect’s nominees are currently up for consideration in the country’s legislative chambers. 

The report also indicates a growing plausibility of establishing a Strategic Bitcoin Reserve. The analysts claimed that though the new administration might not actively acquire additional Bitcoin, it is expected to retain its existing holdings indefinitely, signalling a long-term commitment to the asset.

Matrixport analysts highlight that a pro-crypto U.S. administration, led by these nominees, could reshape financial policy and significantly boost global crypto adoption because it could prompt other governments to take similar actions.

Meanwhile, Trump’s agenda for the industry reportedly involves the creation of a “crypto council” and ” executives from major firms like Ripple, Kraken, and Circle vying for positions. Also, Cardano founder Charles Hoskinson has publicly supported Coinbase CEO Brian Armstrong as a potential “Crypto Czar.” 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”