Donald Trump Enhances Crypto-Focus in His Next Administration
Date: 2024-11-25 Author: Henry Casey Categories: IN WORLD
“Scott Bessent is a recognized expert in international investment, geopolitics, and economics. His career path embodies the American dream,” Trump said.
Bessent began his career at Soros Capital Management, where he served as chief investment officer from 2011 to 2015, before co-founding Key Square Capital Management. His views on digital assets have been positive on numerous occasions, including in an interview with Fox Business, where he supported the development of the crypto industry.
Bessent believes that Bitcoin is a tool for economic freedom that is appealing to a younger generation of investors, especially after the 2007–2009 crisis. He also noted that the Republican Party and Trump are willing to develop this sector, unlike the Democrats, who are trying to distance themselves from the scandals associated with Sam Bankman-Fried.
In addition, according to CNN, Trump is considering Kelly Loeffler, the former head of the institutional crypto platform Bakkt, for the post of Secretary of Agriculture. Although Brooke Rollins, the head of the America First Policy Institute, has been officially nominated for this position, discussions with Loeffler remain on the agenda.
Loeffler, a former senator, will also co-chair the inaugural committee. Her husband, Jeff Sprecher, is the founder and CEO of Intercontinental Exchange, the operator of the New York Stock Exchange. In 2018, this company launched Bakkt, which is now facing financial difficulties.
Trump's interest in Bakkt is confirmed by reports of plans by Trump Media and Technology Group to acquire this platform, which could be a strategic move to promote digital assets.
Earlier, the media reported that Trump's team is actively recruiting cryptocurrency supporters for key positions in the future government. Among them are Robert Francis Kennedy Jr. (Department of Health), Pete Hagseth (Department of Defense), and Howard Lutnick (Department of Treasury). The creation of a new position is also being considered - a "crypto czar" who will oversee digital asset issues in the administration.
