- President elect Donald Trump is jumping on crypto initiatives.
- Trump is reportedly preparing for a meet-up with crypto exchange Coinbase.
- A company affiliated with Trump is reportedly eyeing the crypto space.
A strong cornerstone of Donald Trump’s election campaign was his ‘Crypto President’ branding, so much so that many argue the approach played a major factor in his victory. Throughout his campaign, Trump laid out an extensive list of promises to the crypto industry, vowing to bring long-overdue reform to the U.S. crypto scene.
With his return to the presidency, Trump appears ready to deliver on his promises.
Trump and Coinbase Link Up
Following his victory in the November 4 elections, President-elect Donald Trump is hitting the ground running. According to a recent WSJ report, Trump is set for a meeting with Coinbase CEO and co-founder Brian Armstrong.
Sponsored
The report, citing sources familiar with the matter, revealed that the meeting aims to discuss personnel appointments for the incoming administration as Trump continues his selection process.
Armstrong has been one of the most vocal industry figures advocating for a pro-crypto administration. While he did not openly endorse a preferred candidate during the elections, Coinbase has expressed willingness to collaborate with the new administration to help provide regulatory clarity.
The reports of the Trump-Coinbase meeting build on recent speculation that Trump’s social media platform is also exploring a potential crypto-related acquisition.
Trump Media Sets Sights on Crypto Firm Bakkt
The media company primarily owned by Donald Trump, Trump Media & Technology Group (TMTG), is reportedly currently engaged in talks to acquire the Bakkt crypto trading firm.
While no official confirmation has been made, the acquisition would integrate cryptocurrency into TMTG’s offerings, diversifying its services and revenue streams. However, reports indicate that Bakkt’s crypto custody business will not be included in the deal.
Donald Trump’s latest efforts build the September reveal of a decentralized platform backed by him and his family, World Liberty Financial. The president-elect has previously emphasized that his initiatives are focused on embracing the crypto industry, particularly to fuel his vision of making the United States the world’s “crypto capital.”
On the Flipside
- Donald Trump was once a strong critic of crypto.
- Coinbase made a series of donations to pro-crypto political action committees during the Trump-Harris election.
Why This Matters
Trump’s reported meeting with Coinbase and his media company’s potential acquisition of Bakkt underscore a commitment to his crypto vision. Continuing the trajectory may indicate that the president-elect will make good on his promises.
Learn about other political figures seeking to follow in Trump’s footsteps in this article:
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