Once again named Time's Person of the Year, Trump discusses America's crypto future
U.S. President-elect Trump once again becomes the focus of global attention after being named Time magazine's Person of the Year for 2024. This is his second time receiving this honor since 2016. Time editor Sam Jacobs stated that Trump was undoubtedly the choice, calling him a 'historic figure reshaping the American presidency and rewriting American politics.' Trump also took this opportunity to publicly outline his plans for a second term, particularly regarding the future development of the cryptocurrency industry.
Trump stated when ringing the opening bell at the New York Stock Exchange: 'I really love the feeling of receiving this honor for the second time.' He also revealed some policy priorities during his term, including expediting the permitting process for infrastructure projects and mentioned 'doing something big with cryptocurrency' to ensure America's global leadership in this industry.
Image Source: Time magazine Trump selected as Person of the Year for 2024
Promoting the U.S. to become a leader in the crypto and AI industries
In an interview with CNBC reporter Jim Cramer, Trump clearly expressed his support for cryptocurrency: 'We do not want China or other countries to take the lead. We want to be the leader in this industry.' He further proposed creating a U.S. 'crypto reserve' similar to the Strategic Petroleum Reserve to ensure America's dominant position in the crypto economy.
Trump has also appointed former PayPal executive and crypto supporter David Sacks as the White House AI and Crypto Affairs Commissioner (Crypto Czar) and plans to nominate crypto-supporting Washington lawyer Paul Atkins as chairman of the Securities and Exchange Commission. Trump stated that detailed policies will be discussed with industry leaders and lawmakers, aiming to promote innovative development in the crypto and AI industries while protecting national interests.
The cryptocurrency industry welcomes these appointments, believing the new government may reverse the strict policies of the Biden administration and stimulate innovative vitality. However, some analysts in Washington express concerns that the newly added crypto commissioner position may lead to conflicts of interest in the policy-making process.
The commitment of the cryptocurrency family
Trump's crypto policy is not only anticipated by supporters, but family members are also actively involved. Trump's son, Eric Trump, stated at the Bitcoin MENA 2024 conference in the UAE: 'America will have the most crypto-supportive president in history.' He emphasized that the Trump administration will avoid over-regulation and create a favorable environment for the development of Bitcoin and other cryptocurrencies.
Eric Trump also mentioned at the conference that when Bitcoin broke the $100,000 mark, he celebrated with his father and promoted the family's new startup, World Liberty Financial, which focuses on cryptocurrency financial services. His remarks reflect the Trump family's confidence in the crypto economy and symbolize further integration of family business and policy goals.
Further Reading
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The significance of Person of the Year and the crypto future
Trump being selected as Person of the Year for the second time symbolizes his profound impact on America and the world. The Time editorial board points out: 'Whether in support or opposition, we live in the Trump era.' Trump also demonstrates his commitment to promoting innovation in the American economy through his cryptocurrency vision.
With the new government set to take office, the U.S. crypto economy may enter a new chapter. Whether Trump’s policies can fulfill his promises and bring real prosperity to the U.S. crypto market remains a topic of close attention worldwide.
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‘Trump selected as Person of the Year: Doing something with cryptocurrency to make America great again!’ This article was first published in ‘Crypto City’
