6 months ago
U.S. President-elect Donald Trump named hedge money manager Scott Bessent, a cryptocurrency enthusiast, arsenic his prime for Treasury Secretary.
If the Senate confirms him, the adjacent idiosyncratic whose signature adorns U.S. insubstantial currency volition beryllium a instrumentality of the integer currency ecosystem acceptable up to regenerate the accepted fiscal system.
Bessent runs Key Square Group, a macro investing firm. He worked for salient capitalist George Soros 3 decades agone and was, according to The Wall Street Journal, "one of the driving forces" down Soros Fund Management's celebrated stake — that netted a much than $1 cardinal nett — that the British lb would collapse.
Bitcoin {{BTC}} and crypto arsenic a full are present successful his sights.
"I person been excited astir [Trump's] clasp of crypto and I deliberation it fits precise good with the Republican Party, the ethos of it. Crypto is astir state and the crypto system is present to stay," helium said successful an interview with Fox Business successful July. "Crypto is bringing successful young people, radical who person not participated successful markets."
Polymarket traders had stake that helium was a frontrunner. At 1 point, Cantor Fitzgerald CEO Howard Lutnick was viewed arsenic one, too, but helium was ultimately picked arsenic Commerce Secretary. Lutnick has besides dabbled successful integer assets, helping stablecoin issuer Tether negociate the elephantine stockpile of U.S. Treasuries that backmost its USDT stablecoin since 2021.
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