#Trump Appoints Crypto-Friendly Official#

Donald Trump's recent appointments to the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are believed to be one of the major reasons why the cryptocurrency market stabilized around $105,000. Analysts believe that the officials appointed by Trump are friendly to cryptocurrencies, which has alleviated the increased market volatility that emerged during his inauguration. Among them, Mark Uyeda, a senior SEC official, was appointed as the agency's interim leader. He had previously publicly criticized the SEC's cryptocurrency policy under former Chairman Gary Gensler, arguing that its enforcement policies were "ill-conceived" and calling for clearer regulations on cryptocurrencies. In addition, Trump's appointments to the CFTC also brought positive signals to the cryptocurrency market. As the dollar index fell, investors began to seek alternative assets, and Bitcoin, as a safe-haven asset, has also been supported in price.