Top crypto messengers are already seeking places on Donald Trump’s proposed forthcoming crypto council, which must form within two weeks of his sworn-in.
Industry executives have regularly contributed and met with Mr.Trump to try to influence the administration’s stance on digital currency.
Major contributions from crypto industry leaders
Several CEOs of cryptos have pledged large donations to Trump’s inaugural committee to gain inside access to the new administration. Circle CEO Jeremy Allaire has contributed 1 million USDC to the committee. A few months ago, Allaire seemed an optimist, especially regarding relations with the new administration. Another active official in this line is Crypto.com CEO Kris Marszalek, who also met with Trump at Mar-a-Lago in December.
According to the leaks, discourse focused on crypto-related hiring for positions in Congress and federal agencies. Others joining the race include Coinbase, which has over 250 employees; Kraken propels; Ripple; and startup Ondo, which is into the race with its ‘‘substantial’ cash assets. Two major Bitcoin and cryptocurrency exchanges and their CEOs, Brian Armstrong of Coinbase and Jesse Powell of Kraken, committed $1m to Trump’s inauguration. Ripple also unveiled plans to contribute $5 million worth of XRP to the event.
The race for advisory council positions
The crypto advisory council is expected to have something like two dozen CEOs and founders, and getting on this council has now become something that most industry players aspire to do. Managers consider the council necessary to influence national policies regarding digital currencies, regulations, and blockchain use. Interlocutors reportedly consulted with Trump, including matters relating to a national Bitcoin bank and additional crypto favorable measures.
All these efforts prove the industry’s willingness to collaborate with Trump’s administration to pursue better rules and policies. Some crypto leaders are gearing up to take charge of the system’s strategic decisions, which are central to the sector.
Inaugural Crypto ball to showcase industry support
Before the inauguration, the industry holds the Inaugural Crypto Ball on January 17. The event is intended to show unity with the newly elected president, and such an event will charge 2500 dollars for a ticket. Such big-name sponsors for the event are BTC Inc. Stand with Crypto, Anchorage Digital, and Exodus. Other sponsors are Coinbase, Ondo, MetaMask, and Galaxy.
With the new president-elect Trump on the horizon, the crypto industry has not wasted time setting itself right in the new presidency corridor. The large donations and meetings at the C-Level demonstrate the sector’s desire to shape future legislation in the emerging digital assets and blockchain field.