According to BlockBeats, on December 19, JPMorgan released a report highlighting the impact of Donald Trump's victory in the November presidential election on the U.S. cryptocurrency market. The report noted that since Trump's win, the total market capitalization of cryptocurrencies has surged by approximately 65%.
The analysis, led by Kenneth Worthington, emphasized that the new administration has not only fostered a crypto-friendly environment but also demonstrated enthusiasm for promoting this asset class. A significant development in this regard is Trump's nomination for the position of Chairman of the Commodity Futures Trading Commission (CFTC), which is seen as a crucial step in advancing the government's pro-cryptocurrency agenda. This role is particularly important as it could play a pivotal part in the regulation of major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
