Trump eyes official crypto lead or czar
Bitcoin has gained over 156% since its November 2023 low
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In what would be the first role of its kind, President-elect Trump is mulling a position dedicated solely to cryptocurrency policy, FOX Business has learned.
It’s unclear if the role would be a czar type or a White House staff role, but the individual would have the president’s ear, according to industry sources familiar with the discussions.
The official holding the position would interact with regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Former President Trump visits Pubkey, a cryptocurrency-themed bar, in the West Village in New York City on Sept. 18. (Spencer Platt/Getty Images / Getty Images)
The president-elect campaigned among pro-crypto voters, helping him clinch the White House by winning the popular and electoral vote. He visited New York City crypto bar PubKey in September and was the keynote speaker at Bitcoin 2024, a widely attended industry trade show in Nashville.
TRUMP MEDIA IN TALKS TO BUY CRYPTO MARKETPLACE
Former President Trump gestures at a Bitcoin 2024 event in Nashville, Tennessee, on July 27. (Reuters/Kevin Wurm/File Photo / Reuters Photos)
Trump has said he plans to fire current SEC Chair Gary Gensler, who has resisted a full push into easier crypto regulations, although the first spot bitcoin ETFs were approved under his watch in January 2024.
BITCOIN WHALE ETF SOARS TO RECORD HIGH
Bitcoin, the largest cryptocurrency by market value, touched a new all-time high of $94,000 in afternoon trading Wednesday and has advanced over 156% from its 52-week low of $36,815.63 in November 2023, as tracked by Dow Jones Market Data Group.
TOP THREE ETF SHARES ONE THING IN COMMON
iShares Bitcoin ETF Trust
The surge in price has lifted crypto exchange-traded funds, driving the assets of the largest, iShares Bitcoin Trust, to over $40 billion and lifting it to a record high.
Other bitcoin ETFs are also seeing high interest.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GBTC | GRAYSCALE BITCOIN TRUST ETF - USD ACC | 78.05 | +3.06 | +4.08% |
| FBTC | FIDELITY WISE ORIGIN BITCOIN FUND - USD ACC | 85.88 | +3.34 | +4.05% |
| ARKB | ARKB - ARK 21SHARES BITCOIN ETF - USD ACC | 98.11 | +3.81 | +4.04% |
FOX Business' inquiries to the Trump transition team were not immediately returned.
Bloomberg was first to report Trump is considering a crypto role.