{"id":18373,"date":"2024-11-06T18:01:07","date_gmt":"2024-11-06T16:01:07","guid":{"rendered":"https:\/\/forklog.com\/en\/crypto-industry-awaits-change-as-trumps-victory-sparks-optimism\/"},"modified":"2024-11-06T18:01:07","modified_gmt":"2024-11-06T16:01:07","slug":"crypto-industry-awaits-change-as-trumps-victory-sparks-optimism","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-industry-awaits-change-as-trumps-victory-sparks-optimism\/","title":{"rendered":"Crypto Industry Awaits Change as Trump&#8217;s Victory Sparks Optimism"},"content":{"rendered":"<p>The election of Republican candidate Donald Trump as President of the United States is seen as a catalyst for the development of the digital asset sector in the country, according to participants in the crypto industry.<\/p>\n<p>Gemini co-founder Cameron Winklevoss expressed satisfaction with the outcome of the race.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Time to build baby build! ??<\/p>\n<p>\u2014 Cameron Winklevoss (@cameron) <a href=\"https:\/\/twitter.com\/cameron\/status\/1854043490881052994?ref_src=twsrc%5Etfw\">November 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cTime to build, baby, build!\u201d the entrepreneur reacted.<\/p>\n<\/blockquote>\n<p>In June, he and his brother Tyler Winklevoss <a href=\"https:\/\/forklog.com\/en\/news\/winklevoss-twins-donate-2-million-in-bitcoin-to-trump-criticize-biden\">donated $2 million<\/a> in bitcoin to Trump&#8217;s presidential campaign following the <a href=\"https:\/\/forklog.com\/en\/news\/trumps-campaign-embraces-cryptocurrency-donations\">opening of cryptocurrency donations<\/a>. <\/p>\n<p>The Winklevoss brothers&#8217; enthusiasm reflects the perception of the Republican as a supporter of digital assets, a reputation built on his repeated <a href=\"https:\/\/forklog.com\/en\/news\/donald-trump-declares-himself-the-crypto-president\">statements of support<\/a> for the industry.<\/p>\n<p>Ryan Selkis also expressed satisfaction, <a href=\"https:\/\/forklog.com\/en\/news\/ryan-selkis-steps-down-as-ceo-of-messari\">who, after his emotional reaction<\/a> to the <a href=\"https:\/\/forklog.com\/en\/news\/trump-themed-meme-tokens-surge-following-assassination-attempt\">attempted assassination of Donald Trump<\/a>, stepped down as CEO of Messari.<\/p>\n<p>In early July, the expert declared the <a href=\"https:\/\/forklog.com\/en\/news\/messari-ceo-declares-battle-against-corrupt-sec\">start of a battle<\/a> against the \u201cillegitimate and corrupt\u201d <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>. He had previously noted that the industry had no future in the U.S. if then-Democratic candidate Joe Biden were re-elected for a second term. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I fucking love America.<\/p>\n<p>We\u2019re back.<\/p>\n<p>\u2014 Ryan Selkis (d\/acc) ?? (@twobitidiot) <a href=\"https:\/\/twitter.com\/twobitidiot\/status\/1854063016192385238?ref_src=twsrc%5Etfw\">November 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cI fucking love America. We\u2019re back,\u201d<\/em> Selkis succinctly stated.<\/p>\n<\/blockquote>\n<p>Castle Island Ventures partner Nic Carter expressed similar sentiments.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">they tried to assassinate him. they impeached him. they made him a felon. they tried to imprison him for the rest of his life. they tried to bankrupt him with bogus lawsuits. they slandered him. they deplatformed him. and he persisted.<\/p>\n<p>greatest comeback story of all time.<\/p>\n<p>\u2014 nic carter (@nic__carter) <a href=\"https:\/\/twitter.com\/nic__carter\/status\/1854048754996850781?ref_src=twsrc%5Etfw\">November 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cHe persisted [against Democratic pressure]. Greatest comeback story of all time,\u201d he wrote.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\"><strong>The Fate of the SEC<\/strong><\/h2>\n<p>Democratic presidential candidate Kamala Harris supporter and billionaire Mark Cuban congratulated Trump on his victory, calling it \u201cfair and square.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Congrats <a href=\"https:\/\/twitter.com\/realDonaldTrump?ref_src=twsrc%5Etfw\">@realDonaldTrump<\/a>. You won fair and square. <\/p>\n<p>Congrats to <a href=\"https:\/\/twitter.com\/elonmusk?ref_src=twsrc%5Etfw\">@elonmusk<\/a> as well. <a href=\"https:\/\/twitter.com\/hashtag\/Godspeed?src=hash&#038;ref_src=twsrc%5Etfw\">#Godspeed<\/a><\/p>\n<p>\u2014 Mark Cuban (@mcuban) <a href=\"https:\/\/twitter.com\/mcuban\/status\/1854046994345382034?ref_src=twsrc%5Etfw\">November 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In September, the businessman expressed his ambitions to become the head of the SEC if the White House administration remained consistent. Cuban criticized Gary Gensler for his enforcement-based regulatory approach.<\/p>\n<p>In July, Trump <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-dips-to-67000-amid-trumps-bitcoin-2024-speech\">promised<\/a> to fire the official and establish a strategic bitcoin reserve. <\/p>\n<p>TRON Foundation founder Justin Sun seized the opportunity created by the election buzz. He offered Gensler a job should Trump follow through on his threat to dismiss him, provided the official is willing to work \u201csincerely\u201d with the industry.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">As an industry, we should have an inclusive heart, no matter who it is. I\u2019m open to hiring Gensler if he can genuinely treat the crypto industry with sincerity.<\/p>\n<p>\u2014 H.E. Justin Sun?(hiring) (@justinsuntron) <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1854083500200415444?ref_src=twsrc%5Etfw\">November 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Ripple CEO Brad Garlinghouse, who supported Harris, did not comment on Trump\u2019s success but noted the role of Fairshake, a pro-cryptocurrency coalition sponsored by his company.<\/p>\n<p>The organization helped Republican Senate candidate from Ohio Bernie Moreno secure the seat of incumbent Democratic lawmaker and digital asset skeptic Sherrod Brown.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cBeing anti-crypto is simply bad politics,\u201d<\/em> reacted Coinbase CEO Brian Armstrong.<\/p>\n<\/blockquote>\n<blockquote class=\u201ctwitter-tweet\u201d>\n<p lang=\u201cen\u201d dir=\u201cltr\u201d>Being anti-crypto is simply bad politics <a href=\u201chttps:\/\/t.co\/Y6mPMSE3C0\u201d>pic.twitter.com\/Y6mPMSE3C0<\/a><\/p>\n<p>\u2014 Brian Armstrong (@brian_armstrong) <a href=\u201chttps:\/\/twitter.com\/brian_armstrong\/status\/1854029871040835614?ref_src=twsrc%5Etfw\u201d>November 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\u201chttps:\/\/platform.twitter.com\/widgets.js\u201d charset=\u201cutf-8\u201d><\/script><\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"forklog\/40680\" data-width=\"100%\"><\/script><\/p>\n<p>Coinbase\u2019s Chief Legal Officer Paul Grewal expressed hope for the Commission to adopt a regulatory framework favoring open dialogue and innovation over litigation.<\/p>\n<p>Besides a change in SEC leadership and a review of the regulator\u2019s enforcement stance, industry participants anticipate an expansion of exchange-traded funds based on other cryptocurrencies.<\/p>\n<p>Syncracy Capital co-founder Daniel Cheung predicted the approval of a SOL-ETF as early as the first quarter of 2025.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I believe that crypto is potentially headed for a biblical bull market in the coming months that could surpass 2021 \u2014 some thoughts on the current market setup under a Trump Administration:<\/p>\n<p>1) Trump presidency is a 4 year call option on crypto markets (i.e. Gensler fired, US\u2026<\/p>\n<p>\u2014 Daniel Cheung (@HighCoinviction) <a href=\"https:\/\/twitter.com\/HighCoinviction\/status\/1854043885871514111?ref_src=twsrc%5Etfw\">November 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\"><strong>Early Beneficiaries<\/strong><\/h2>\n<p>At present, it is clear that hodlers who awaited a new <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span> in bitcoin are among the winners.<\/p>\n<p>Those confident in victory reaped significant rewards on the Polymarket prediction platform. <\/p>\n<p>According to Lookonchain, trader Theo4 earned a profit of ~$20.4 million on a ~$40 million bet. Another whale, Fredi9999, made ~$15.6 million from ~$28 million. Yet another, zxgngl, gained ~$11 million, risking $30 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Congratulations to <a href=\"https:\/\/twitter.com\/realDonaldTrump?ref_src=twsrc%5Etfw\">@realDonaldTrump<\/a>!<\/p>\n<p>And congratulations to the whales who bet on <a href=\"https:\/\/twitter.com\/hashtag\/Trump?src=hash&#038;ref_src=twsrc%5Etfw\">#Trump<\/a>!<\/p>\n<p>&#8220;Theo4&#8221; makes a profit of $20.4M!<\/p>\n<p>&#8220;Fredi9999&#8221; makes a profit of $15.6M!<\/p>\n<p>&#8220;zxgngl&#8221; makes a profit of $11M!<a href=\"https:\/\/t.co\/qZJOfUapGv\">https:\/\/t.co\/qZJOfUapGv<\/a> <a href=\"https:\/\/t.co\/IDcENABNHD\">pic.twitter.com\/IDcENABNHD<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1854057565396885924?ref_src=twsrc%5Etfw\">November 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The volume of bets on the presidential race winner on Polymarket reached <a href=\"https:\/\/polymarket.com\/event\/presidential-election-winner-2024?tid=1721030336057\">$3.68 billion<\/a>. On November 5, traders made deals worth a <a href=\"https:\/\/polymarket.com\/event\/presidential-election-winner-2024?tid=1721030336057\">record $157.4 million<\/a>.<\/p>\n<p>As reported by ForkLog, opinions from crypto industry participants regarding the future prospects of the digital asset market have been gathered.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The election of Republican candidate Donald Trump as President of the United States is seen as a catalyst for the development of the digital asset sector in the country, according to participants in the crypto industry. Gemini co-founder Cameron Winklevoss expressed satisfaction with the outcome of the race. Time to build baby build! ?? \u2014 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[991,1181,1150,1138,842,36,128],"class_list":["post-18373","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-donald-trump","tag-gary-gensler","tag-news-plus","tag-opinions","tag-politics","tag-regulation","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18373"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18373\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18372"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}