Crypto Industry Anticipates Additional Appointments from Trump Administration
President-elect Donald Trump nominated Cantor Fitzgerald CEO Howard Lutnick to lead the Department of Commerce. Lutnick previously remarked on bitcoin, stating that traditional finance players would engage with it more actively when regulatory conditions improve.
Trump's election win may facilitate this shift, considering his promises related to cryptocurrency and potential changes in leadership at the Securities and Exchange Commission (SEC).
Lutnick indicated that bitcoin adoption will increase as banks gain more freedom to clear, custody, and transact in bitcoin, which is currently restricted by SEC regulations.
Lutnick's firm works with Tether, a stablecoin issuer that has denied being under federal investigation.
Reports suggest Trump may appoint a "crypto czar" and establish a crypto council within the National Economic Council. Blockchain Association CEO Kristin Smith highlighted the importance of strong appointments for Treasury Secretary and SEC Chair to ensure effective governance in the crypto sector.
Gary Gensler announced he would resign from his position as SEC chair on January 20.
Blockstream appointed Sean Bill as its chief investment officer to lead its new asset management division, focusing on bitcoin financial products, including a bitcoin yield fund and a USD yield fund.
Wintermute Asia plans to double its workforce in the Asia Pacific region after establishing a new headquarters in Singapore, actively seeking to fill critical roles to scale operations.