Donald Trump’s Win Sparks Hopes for Bullish Crypto Market and Regulatory Relief
This year, Trump has shown strong support for the crypto industry. He called for a national Bitcoin reserve and vowed to dismiss SEC chair Gary Gensler, a crypto opponent, on his first day if re-elected. Additionally, he endorsed a decentralized finance project called World Liberty Financial, where his family holds a key role.
XYO Network co-founder Markus Levin told Cryptonews that Trump’s victory would likely make the global climate more favorable to crypto.
“After all, global institutions like the IMF and World Bank are skeptical of crypto at the moment. So if there is a pro-crypto administration in the White House, those institutions will inevitably become more pro-crypto and in turn have a sizable impact on the world in terms of adoption and favorable regulation,” he added.
Komodo CTO, Kadan Stadlemann, also believes Trump’s win could trigger a bullish market. This is because regulatory relief for US crypto firms might follow, attracting increased investment.
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https://cryptonews.com/news/donald-trump-wins-us-presidential-election/