According to a report by the New York Post, Donald J. Trump is set to appoint Larry Fink as the next US Secretary of the Treasury. The news has sent positive sentiments to the crypto community, considering BlackRock spearhead spot Bitcoin ETFs.
Crypto could hit new ATH under Trump and Fink
Janet Yellen is the current United States Secretary of the Treasury, and she is not a friend of crypto. Under Yellen and Gary Gensler, crypto has suffered regulatory traps and falls. Now, all that could change.
The New York Post reports that Trump could consider picking Fink because of their shared history. It is a known industry fact that BlackRock has handled Trump’s investment portfolio for years.
Advertisement
During an industry elite meeting at the white house in 2017, Trump said, “Larry did a great job for me. He managed a lot of my money. I have to tell you, he got me great returns.”
Larry Finks’s stand on Bitcoin is clear. His company played a huge part in birthing spot BTC ETFs in the US. In the second half of 2024, the company shifted its focus to spot Ethereum EFTs. If picked as Secretary of the Treasury, this could benefit the crypto ecosystem.
In an interview with CNBC last week, Fink said he was “wrong” about Bitcoin and called it “digital gold” and a “legitimate” financial instrument. He told Jim Cramer, “I believe it is an instrument that you invest in when you’re more frightened, though. It is an instrument when you believe countries are debasing their currency by excess deficits, and some countries are.”
His views align with Trump’s plan to make the US the leading global crypto hub. This could be a new dawn for crypto, straight from Washington, D.C.
Advertisement
Also Read: Daily Crypto Update: Memecoins rule while altcoins stay stagnant
