#Trump Appoints Crypto-Friendly Official#

Trump's appointment of crypto-friendly officials to key roles at the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) is considered one of the reasons behind Bitcoin's stability at around $105,000. Analysts believe these appointments have eased the heightened market volatility that emerged during Trump's inauguration. Mark Uyeda, the senior SEC official appointed by Trump, has publicly criticized Gary Gensler, the former chairman of the SEC, for his enforcement policies on cryptocurrency, calling them “ill-conceived” and advocating for clearer regulations on cryptocurrencies. Furthermore, Jenny Johnson, the CEO of Franklin Templeton, believes that the new Trump administration will be committed to creating clearer regulations by integrating traditional finance and cryptocurrency, which will lower costs and drive innovation. She believes that blockchain technology can be used in the future for exchange-traded funds and mutual funds as it is an efficient technology. Overall, Trump's crypto-friendly appointments and calls for clearer regulations are considered to be beneficial for the development of the cryptocurrency market.