- Multiple CEOs in the sector have been rooting to be members of the Crypto Advisory Council formed by the Trump administration.
- The past week saw leading members from Ripple and Coinbase meet with Donald Trump.
The community has seen quite some activity after the winter break. While prices have remained a sore spot, the regulatory landscape is slowly springing to action. With Gary Gensler’s resignation approaching fast, prominent personalities discuss their outlooks toward the sector’s regulatory future.
Meanwhile, President-elect Donald Trump’s announcement of a Crypto Advisory Council is spurring sparks of its own. According to Bloomberg reports, numerous top CEOs from the crypto industry are sprinting to be included in the council. This has drawn members’ attention, thus making us wonder what being part of the council would mean.
Recently, Circle’s CEO Jeremy Allaire posted on X that the firm had contributed 1 million USDC to Trump’s inaugural program. Additionally, Ripple’s chief position holders including Brad Garlinghouse also met with the President-elect on January 9.
Circle has contributed 1M USDC to President Trump’s Inaugural Committee. We are excited to be building
a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) January 9, 2025
Secondly, MicroStrategy’s founder Michael Saylor also met with Eric Trump recently, while other leaders also include Coinbase CEO Brian Armstrong. Moreover, the reports stated that candidates are still being evaluated for the Crypto Advisory Council.
What Would A Crypto Advisory Council Mean?
The recent past few months hold testimony for how a positive government can benefit the sector. With Trump winning the elections, Bitcoin reached its new price milestone of $100K. Furthermore, cryptocurrency also saw widespread adoption worldwide with multiple countries moving forward to form a Bitcoin reserve.
In light of such events, a crypto advisory council would greatly benefit in advancing toward regulatory clarity in the US for digital assets. The SEC’s previous approach to the crypto sector has left quite some obstacles in navigating compliance within the sector.
However, the presence of experts in the field working towards a secure, and decentralized future would help alter this landscape. This could mean the accommodation of secure and beneficial projects while also simplifying the complexity of current regulatory hassles.
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