The crypto market has been set alight by Donald Trump’s win. What has them most excited is the man Trump has vowed to fire on his first day in office.
The crypto assets markets have been set alight by Donald Trump’s victory and the prospect of crypto boosters in the White House and the US Congress.
Trump has said that he will fire Securities and Exchange Commission chairman, Gary Gensler on his first day in office. He and his advisers are already deep into the process of identifying the candidates to lead the key financial agencies, including the SEC, with oversight of the crypto sector. Similarly, Trump’s plan to create a digital currency reserve using the $US12 billion of Bitcoin, Ethereum and other cryptocurrencies seized by government agencies comes with significant question marks. The proceeds from sales of those assets have traditionally been used to compensate victims of the crimes, as well as to fund the agencies.
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