FT News Briefing Swamp Notes: America’s first ‘Bitcoin president’
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Dec 7, 2024 
Nikou Asgari, the FT’s digital markets correspondent, dives into the evolving relationship between Donald Trump and cryptocurrencies. Once deemed a 'scam' by Trump, Bitcoin now thrives under the possibility of a supportive presidency as it recently hit $100,000. The conversation centers on potential SEC shifts with crypto advocate Paul Atkins at the helm, contrasting current regulatory tensions. They also explore how a pro-crypto leader could reshape market dynamics, stirring excitement amidst institutional interest and political currents.
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Gensler's Approach
- Gary Gensler, current SEC chair, is disliked by the crypto community.
- He views the sector as the "Wild West" and prefers regulation by enforcement.
Crypto Community's Dislike for Gensler
- Crypto investors strongly dislike Gary Gensler, exemplified by Jesse Powell's tweet.
- Powell called Gensler a "clown and a treasonous terrorist" after his resignation announcement.
Trump's Crypto Promises
- Trump made numerous pro-crypto promises during his campaign.
- These include creating a Bitcoin reserve fund and promoting the US crypto industry.