Mon Jan 20 11:51:22 UTC 2025: ## Crypto Industry Poised for Influence as Trump Administration Takes Shape

**Washington D.C.** – The cryptocurrency industry is poised for a significant shift in its relationship with the US government following a wave of pro-crypto appointments to President-elect Donald Trump’s administration. Several key figures in the incoming administration, including cabinet members and advisors, have publicly expressed support for cryptocurrencies and own significant holdings. This follows years of legal battles and regulatory scrutiny faced by the industry.

President-elect Trump’s incoming Treasury Secretary, billionaire hedge fund manager Scott Bessent, holds a significant investment in a Bitcoin ETF and has described crypto as “about freedom.” Similarly, the incoming Secretary of Commerce, Howard Lutnick, CEO of Cantor Fitzgerald, openly stated his firm’s substantial Bitcoin holdings. Elon Musk, tapped to oversee a government cost-cutting initiative (dubbed “DOGE,” a nod to Dogecoin), has a history of influencing crypto markets through his public pronouncements and Tesla’s previous investments.

Other key figures with crypto ties include Vivek Ramaswamy, who will work alongside Musk and whose firm is launching a Bitcoin-focused ETF; David Sacks, the White House AI and crypto czar tasked with developing a US crypto framework; and Steve Witkoff, whose new venture, World Liberty Financial, lists President Trump as entitled to a share of its profits. The Trump family – Eric, Donald Jr., and Barron Trump – are also reportedly involved in World Liberty Financial. Further, Vice President-elect JD Vance holds a substantial amount of Bitcoin, and his venture capital firm has investments in crypto-related businesses.

The incoming SEC Chair, Paul Atkins, a deregulation advocate, is expected to adopt a less stringent approach to crypto than his predecessor.

A sold-out black-tie gala celebrating the incoming administration’s crypto-friendly stance is scheduled for Friday in Washington D.C.

While some appointees are divesting holdings to avoid conflicts of interest, the sheer number of individuals with direct involvement in the crypto space suggests a significant change in US policy is imminent. A spokesperson for the Trump-Vance transition team stated that the administration intends to foster American leadership in crypto and other emerging technologies. The crypto community, anticipating a more favorable regulatory environment, is expressing considerable optimism.

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