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Reading: Trump’s Crypto Policies Ignite Wall Street’s Interest in Memecoins
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COINTURK NEWS > Cryptocurrency News > Trump’s Crypto Policies Ignite Wall Street’s Interest in Memecoins
Cryptocurrency News

Trump’s Crypto Policies Ignite Wall Street’s Interest in Memecoins

In Brief

  • Trump's crypto policies are attracting attention from Wall Street firms.

  • Memecoins like TRUMP token are causing both excitement and apprehension in finance.

  • Regulatory clarity is essential for the growth of the cryptocurrency sector.

Ömer Ergin
Ömer Ergin 5 months ago
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As Donald Trump introduces himself as the “crypto president” in his second term, the cryptocurrency industry anticipates significant changes within the US crypto ecosystem. Wall Street giants foresee that Trump’s crypto policies will benefit major companies like JPMorgan Chase & Co. and BlackRock Inc. by providing easier investment opportunities. However, financial firms are concerned about the potential negative consequences of President Trump’s TRUMP memecoin on crypto regulations.

Contents
Wall Street Giants Investigate Crypto OpportunitiesFinancial Leaders and the Memecoin Debate

Wall Street Giants Investigate Crypto Opportunities

According to Bloomberg, Wall Street executives discussed potential opportunities in the crypto sector during the 2025 World Economic Forum held in Davos, Switzerland. Jenny Johnson, CEO of Franklin Templeton Investments, stated, “We will see a greater integration of traditional finance and crypto with the Trump administration, which is something we need.”

Nevertheless, Wall Street firms emphasized the importance of regulatory clarity, especially regarding the custody of crypto assets. Ron O’Hanley, CEO of State Street Corp, mentioned that potential changes in accounting rules could facilitate banks’ ability to hold cryptocurrencies.

Financial Leaders and the Memecoin Debate

During the meeting, financial companies suggested that the recent memecoin explosion has significantly impacted Trump’s crypto policies. TD Cowen analyst Jaret Seiberg warned that the volatile nature of the TRUMP memecoin could hinder efforts to pass digital asset legislation in Congress.

Democrats will seek details on who is purchasing coins and who is responsible for price increases. They will investigate whether foreign governments, businesses, and local companies are using the coin to influence Trump’s decision-making processes.

Donald Trump’s TRUMP token gained investor confidence, reaching $8 billion within three hours of its launch. After peaking at $73, the token fell to $31, trading at $44.28 after a 5.7% increase in the last 24 hours.

Wall Street’s focus on Trump’s crypto policies marks a significant development amid memecoin volatility. Financial firms stress the need for regulatory clarity to foster growth in the crypto market, while Trump’s memecoin continues to generate both interest and concern.

In light of these developments, there is a growing necessity for comprehensive regulations to ensure stability and reliability in the crypto market.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 22 January, 2025 - 5:05 am 22 January, 2025 - 5:05 am
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