📣 Trump Engages with Crypto Sector
posted 19 Nov 2024
President-elect Donald Trump reveals his commitment to the crypto sector with significant developments, including a meeting with Coinbase CEO Brian Armstrong and potential acquisition of Bakkt.
A closed-door meeting is planned for next week between Donald Trump and Brian Armstrong, the CEO of Coinbase, America’s most influential crypto exchange. The Wall Street Journal indicates that the conversation may touch on assembling the new presidential team, SEC operations, and the role of cryptocurrencies in the economy.
Trump, who was once wary of digital assets, has made a notable shift in his viewpoint. During his campaign, he even pledged to establish a presidential council dedicated to cryptocurrency to push for transparent and fair regulatory frameworks.
With his victory now official, Donald appears ready to make good on these campaign pledges.
Trump's cooperation with Coinbase, one of the leading global crypto exchanges, signals the depth of his commitment. Armstrong, in turn, is a vocal advocate for clearer cryptocurrency regulations and has already shown support for SEC Commissioner Hester Peirce (“crypto-mom”) as a potential SEC Chair.
Coinbase’s substantial investment in Trump’s campaign—over $100 million allocated to various election committees—illustrates the digital industry’s willingness to engage closely with the new administration in hopes of regulatory reform.
Donald Trump at the “Bitcoin 2024” conference in Nashville. Source: Х
Donald Trump also aims to expand his business empire into the crypto sector.
The Financial Times has revealed that discussions are underway about TMTG, where Trump holds a 53% share, potentially acquiring Bakkt, a prominent crypto platform. Bakkt provides scalable API-based software solutions for cryptocurrency trading and custody. This acquisition would grant Trump’s family significant influence over key aspects of the American crypto market infrastructure..
A notable detail is that Kelly Loeffler, the inaugural CEO of Bakkt, was a Republican senator representing Georgia during Trump’s first presidency. She currently serves as co-chair of the committee planning his January 2025 inauguration.
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