As Trump’s crypto-positive cabinet takes shape, the U.S. might be on track for a potential revolution in the decentralized finance space, analysts at Matrixport anticipate.Donald Trump‘s prospective nominees for the U.S. Treasury, Commerce, and potentially the Securities and Exchange Commission are viewed as crypto-friendly leaders who, if appointed, could transform financial policy and align the country more closely with the rapidly evolving crypto sector, according to analysts at Matrixport.
In a recentanalytical report, the analysts expressed a belief that the narrative of 2024 — Bitcoin (BTC) as digital gold — could evolve “into adefirenaissance,” with traditional finance increasingly integrating decentralized finance applications or blockchain networks to “enhance payment systems and transaction efficiency.”
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Howard Lutnick, CEO of investment bank Cantor Fitzgerald, who has been tapped for Commerce Secretary, is a vocal crypto advocate,praisingthe role stablecoins and crypto have today. Similarly, Scott Bessen, Trump’s nominee for Treasury Secretary, has also expressed support for Bitcoin, noting in arecent statementthat “crypto is about freedom, and the crypto economy is here to stay.”
Matrixport notes that Bessen’s call for a reduced budget deficit has added to speculation that the stimulative fiscal policies of recent years may not persist, which in turn has been interpreted as a key reason to buy Bitcoin amid an uncertain macroeconomic environment.
The third nominee, Paul Atkins, a veteran crypto lawyer and former SEC commissioner, is considered for SEC Chair. According to Matrixport, Atkins has played a “pivotal role in shaping the cryptocurrency industry through his regulatory expertise and advocacy for balanced oversight.”
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