Bitcoin price returned to short-term fluctuations and made a move after the US market closed. The price experienced a loss of approximately $500 to $64,000 but holds the key threshold. On the other hand, as of the time of writing, we see more positive developments on the ETH ETF front. So, what is Trump doing?
Cryptocurrencies and Trump
Trump is a potential US President, and the recent armed attack has become his victory ticket. Of course, he could do many things that could lose votes until November, but for now, he is leading the race. This situation has made Trump’s rise in the BTC front due to his extremely crypto-friendly statements in recent weeks.
The former and possibly new US President Trump recently highlighted foreign dominance over crypto and BTC. The Biden administration’s wrong policies and stance, especially through the SEC, have caused significant problems by damaging crypto. For months, we have talked about US-based crypto companies potentially migrating to more moderate countries like the UAE.
Now, Trump clearly states that they will not allow foreign dominance over crypto and BTC, as if promising to eliminate this negative discrimination.
JPMorgan and Trump
One is the largest bank in the US, and the other is the potential new president of the US. Jamie Dimon, the head of JPMorgan, is known for his anti-crypto statements and is a good candidate for Treasury Secretary for Trump. On the other hand, JPMorgan is collaborating with BTC ETF issuers, so the CEO’s opposition does not detach the bank from crypto.
Previously, Trump had different thoughts about JPMorgan CEO Jamie Dimon for the role of Treasury Secretary, but his opinion has changed. This change came as Treasury Secretary Janet Yellen expressed concerns about the future of the US dollar and the changing landscape for the cryptocurrency industry and its role in the US economy.
According to Forbes, the potential new US President, who changed his mind after meeting with Dimon, could turn him into one of his new crypto friends. The contribution of crypto to the US economy is one of the issues Trump cares about for both the election and the economy, and Dimon may not oppose this.
