Trump Seeks Crypto-Friendly Figures for Government Roles

US President-elect Donald Trump is considering appointing candidates supportive of cryptocurrencies to key government positions, according to The Washington Post, citing sources.

The politician’s advisors are consulting with crypto company leaders regarding potential changes in federal policy, the media noted.

Billionaire Scott Bessent is being considered for the position of Treasury Secretary.

Trump’s leading pick for Treasury Secretary — billionaire hedge fund investor Scott Bessent — is very pro-crypto, particularly pro-Bitcoin.

Some recent statements:

“I have been excited about the president’s embrace of crypto and I think it fits very well with the Republican…

— Eleanor Terrett (@EleanorTerrett) November 12, 2024

“I have been excited about the president’s embrace of cryptocurrency. I think it fits very well with the Republican Party. Cryptocurrency is freedom, and the crypto economy is here to stay.[…] One of the most exciting things about it [Bitcoin] is that it attracts young people and those who have not previously participated in markets. Developing a market culture in the US, where people believe in a system that works for them, is the foundation of capitalism,” said Bessent, as quoted by FOX correspondent Eleanor Terrett.

Daniel Gallagher, chief legal officer at Robinhood and a former SEC official from 2011-2015, is the frontrunner for the position of head of the US Securities and Exchange Commission. Other candidates include current regulator employees Hester “Crypto Mom” Peirce and Mark Uyeda.

Earlier, former BitMEX head Arthur Hayes suggested that Trump’s policies could push Bitcoin’s price to $1 million.