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Matrixport: Trump nominates crypto-friendly cabinet candidate, potentially promoting DeFi revival and accelerating global cryptocurrency adoption

Matrixport: Trump nominates crypto-friendly cabinet candidate, potentially promoting DeFi revival and accelerating global cryptocurrency adoption

Bitget2024/11/29 09:13

On November 29, Matrixport released a report stating that U.S. President-elect Trump has nominated three key cabinet minister candidates who will respectively take charge of the U.S. Treasury Department, Commerce Department and Securities and Exchange Commission (SEC). These nominees are generally considered to be friendly towards cryptocurrencies and all recognize the inevitability of digital assets in the modern financial system. Their nominations are expected to further integrate cryptocurrencies into the U.S. economy. Ironically, the United States may become a beneficiary of MiCA. During Trump's second term, his pro-cryptocurrency ministerial team is expected to focus on integrating cryptocurrencies into the U.S. economy to promote technological innovation and economic growth. The domestic debate in America has moved beyond just establishing regulatory frameworks but towards fully accepting cryptocurrency as a driver for creating economic opportunities and promoting technological progress.The possibility of America establishing strategic Bitcoin reserves is increasing.However,the United States might not actively purchase Bitcoins,but indefinitely retain its already held Bitcoins.If these nominations become reality,Bitcoin could evolve from digital gold into a revival of decentralized finance(DeFi),and digitization of American financial economy could make cryptocurrency applications this election's biggest winner.This shift could also force other countries' governments to accept cryptocurrency,speeding up its global adoption.In this scenario,Ethereum might catch up under DeFi's revival.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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