Donald Trump Expands Cryptocurrency Advocates in Prospective Administration

US President-elect Donald Trump has nominated hedge fund manager Scott Bessent for the position of Treasury Secretary. The politician announced this on his social network, Truth Social.

“Scott is widely respected as one of the world’s leading international investors, geopolitical and economic strategists. His story is the story of the American dream,” Trump stated.

In 2015, Bessent co-founded Key Square Capital Management. Prior to this, he worked at George Soros’s Soros Capital Management, where he served as Chief Investment Officer from 2011 to 2015.

Previously, the businessman spoke positively about digital assets in an interview with Fox Business. According to him, Trump’s support for the industry aligns with the Republican Party’s policy.

“Cryptocurrencies are freedom in the crypto economy, which is here to stay. Democrats are running away from it because they are trying to wash away the stench of donations from Sam Bankman-Fried and his family,” Bessent declared.

One of the most interesting qualities of Bitcoin, he noted, is that digital gold attracts young investors to the market following the financial crisis of 2007–2009.

According to CNN, Trump is considering appointing former CEO of institutional crypto platform Bakkt, Kelly Loeffler, as Secretary of Agriculture. The former senator will also become co-chair of the inaugural committee.

However, Trump has officially nominated Brooke Rollins for this ministerial post. She heads the America First Policy Institute, an organization closely linked to the politician’s campaign.

“There have been several discussions between Loeffler and the transition team regarding this position,” claims CNN.

The final decision has not yet been made by the president-elect, journalists noted.

Loeffler’s husband, Jeff Sprecher, is co-founder, chairman, and CEO of Intercontinental Exchange, the operator of a network of exchanges and clearinghouses, including the NYSE. The company founded Bakkt in 2018 and holds a controlling stake in the platform.

According to the Financial Times, Trump-linked Trump Media and Technology Group is in advanced stages of a deal to acquire Bakkt. The latter is experiencing financial difficulties, and its management previously expressed doubts about its ability to continue business without securing new capital.

As reported by the media, Trump is seeking candidates for his future government who support cryptocurrencies. Nominees already include Bitcoin advocates such as Robert Francis Kennedy Jr. (Health Department), Pete Hegseth (Defense Department), and Howard Lutnick (Treasury).

The transition team is also considering the appointment of a “crypto czar”—a dedicated position in the administration focusing on digital assets.