IFs do not know if he should slide right or left over the entire relationship
While I was going through the recent upheaval of Trump and Financial World for the 10q payment of this week (Believe me, there were many), I finally put myself in today’s history – how Crypto takes a new life under the president’s watch and what it could mean for the banks of Wall Street.
In a decision that has both crypto enthusiasts and traditional bankers adjusting their glasses, Trump took the steam before in the crypto world. From the launch of his own DEFI, Liberty Financial platform, to the adoption of memes parts and to the remamy of government positions to promote digital assets, Trump diving in the crypto is a driving in russian mountains, filled twists and turns, turns and high participations.
For him, these initiatives aim to propel the United States to the foreground of cryptocurrency.
Some of his hinged actions in this direction include:
~ From ‘I am not a fan’ to “let’s make crypto again”:: Let’s go back to 2019, and Trump called Bitcoin “scam” and tweet that crypto was “based on thin air”. He is now one of the noisiest voices in crypto, a position solidified by the launch of his World Liberty Financial (WLFI).
WLFI offers loan, loan and realization opportunities in a way that, according to Trump, “maintains financial power in the hands of the people, not the globalists”.
The platform works with a strong accent on stablecoins, in particular those set to the US dollar, in order to solidify the role of the dollar in world digital transactions. In the weeks following the launch, the WLFI transferred $ 307 million in cryptographic active ingredients to Coinbase Prime, upset the eyebrows in banking circles with cryptography and traditional.
~ Same corners ftw? If WLFI was Trump’s serious game in Defi, his next blow was a pure show: kissing Trumpcoin (not officially affiliated with him, but strongly inspired). The room even skyrocketed during the night after making a sign during a rally, declaring: “I hear there is a Trump’s piece. It may be the best coin. People love it.
While most politicians remain far from the coins, Trump has looked, fueling speculation that he could formally approve his own cryptocurrency. And in the world of rooms even, a simple tweet or support can send prices in the arrow – or crash.
~ Crypto-friendly faces in the high places: Trump has appointed Pro-Crypto figures to government keystations.
David Sacks, A defender of cryptography, was appointed to direct the SEC (US Securities and Exchange Commission), hopes of suspension of a more user -friendly change in policy for crypto which could facilitate the integration of digital assets for financial institutions.
Sacks went to Capitol Hill this week to reveal the vision of the administration for the regulation of cryptocurrencies. The committees of the Senate Bank of Banks, the Agriculture of the Senate, the Agriculture of the Chamber and the Financial Services of the Chamber associate themselves to create a bicameral cryptography committee. Their main objective is to create a stablecoin invoice and set up a federal regulatory framework for digital assets.
The Federal Reserve and the FDIC also envisage changes in Pro-Crypto policy, encouraging more in-depth institutional adoption. Travis hillThe president of the acting FDIC appointed by Trump, noted the Senate Banking Committee this week that the FDIC is re -evaluating its position on cryptographic regulations to provide a clear path for IF. The regulator also revisits its position on the insurance of deposits linked to cryptography. If cryptographic companies obtain the support of the FDIC, this could make digital assets more acceptable to traditional banks and investors.
Hill also pointed out that the agency had previously made more difficult for banks to engage with the crypto, referring to past communications which discouraged such involvement.
Cynthia LummisA longtime supporter of Bitcoin was also operated by Trump for the position of the secretary of the Treasury.
Big Banks: Panic, Adapt or Hodl (wait for expensive life)?
Earlier, banks were satisfied with pro-enterprises and deregulation of Trump. But now, with the new president reworking the financial bridge and deploying the red carpet for the crypto, the banks are probably wedged in a corporate identity crisis. Should they plunge the first in the DEFI space or stick to the proven methods that kept them at the top?
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