{"id":821489,"date":"2025-01-21T05:12:01","date_gmt":"2025-01-21T11:12:01","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/21\/circle-ceo-bullish-on-trumps-crypto-policy-despite-no-mention-during-speech\/"},"modified":"2025-01-21T05:12:01","modified_gmt":"2025-01-21T11:12:01","slug":"circle-ceo-bullish-on-trumps-crypto-policy-despite-no-mention-during-speech","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/01\/21\/circle-ceo-bullish-on-trumps-crypto-policy-despite-no-mention-during-speech\/","title":{"rendered":"Circle CEO bullish on Trump\u2019s crypto policy despite no mention during speech"},"content":{"rendered":"
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\"Circle Circle CEO bullish on Trump\u2019s crypto policy despite no mention during speech<\/span> Assad Jafri \u00b7<\/span> 10 hours ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n

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Circle CEO emphasizes need to reverse restrictive crypto measures amid optimism for Trump’s pro-crypto policies.<\/p>\n

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2 min read<\/span><\/p>\n

Updated:<\/span> Jan. 21, 2025 at 12:22 am UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\"Circle<\/p>\n

E\u00f3in Noonan \/ MoneyConf \/ CC BY 2.0 \/ Wikimedia. Remixed by CryptoSlate<\/p>\n<\/div>\n<\/div>\n

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Circle<\/a> CEO Jeremy Allaire<\/a> expressed optimism about President Donald Trump\u2019s<\/a> potential to enact policies favorable to the crypto industry, including executive orders that could remove barriers to digital asset adoption, Reuters reported on Jan. 20.<\/p>\n

Speaking at the Reuters Global Markets Forum during the World Economic Forum in Davos, Allaire highlighted the urgency of reversing restrictive measures like the SEC\u2019s Staff Accounting Bulletin (SAB) 121.<\/p>\n

According to Allaire:<\/p>\n

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\u201cSAB 121 effectively penalized banks and financial institutions for holding cryptocurrencies on their balance sheets.\u201d<\/p>\n<\/blockquote>\n

He emphasized that repealing such regulations could significantly enhance the integration of digital assets within traditional finance.<\/p>\n

Circle, the issuer of USD Coin (USDC), has been vocal in advocating for regulatory reforms to support innovation in the crypto sector. The company illustrated its commitment with a $1 million USDC donation to Trump\u2019s inauguration committee, signaling confidence in the administration\u2019s potential crypto policies.<\/p>\n

Despite Allaire\u2019s remarks, Trump\u2019s inauguration speech on Jan. 20 omitted any mention<\/a> of Bitcoin and crypto. Instead, he focused on topics such as tariffs, immigration, and energy independence, leaving investors speculating about the timing of potential crypto-related announcements.<\/p>\n

Nevertheless, the market experienced significant volatility during the day. Bitcoin (BTC<\/a>) surged to a record high of $109,000 ahead of the inauguration before falling to a low of $100,000.<\/p>\n

According to CryptoSlate<\/em> data, Bitcoin maintained a six-figure price level of roughly $103,500 as of press time.<\/p>\n

Optimism under Trump<\/h2>\n

Overall, Bitcoin has rallied nearly 50% since Trump\u2019s election in November, with investors buoyed by expectations of favorable policies.<\/p>\n

Recent data highlights strong institutional interest in digital assets. Last week, Bitcoin exchange-traded products (ETPs) recorded $1.9 billion in inflows, part of a larger $2.2 billion<\/a> total inflow into crypto-focused ETPs.<\/p>\n

Adding to the momentum, Trump\u2019s newly launched memecoin, TRUMP, debuted on the Solana<\/a> blockchain, skyrocketing 490% in value within 24 hours. The token\u2019s rapid rise pushed its market capitalization to nearly $11 billion before a sell pressure kicked in for a correction.<\/p>\n

Although a proposed strategic Bitcoin reserve remains speculative, betting platforms suggest a 60% chance of such an initiative materializing within the year.<\/p>\n

Industry leaders remain hopeful that Trump\u2019s presidency will catalyze a period of growth and regulatory clarity for cryptocurrencies, fostering broader adoption and integration across financial systems.<\/p>\n

Mentioned in this article<\/h6>\n
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Read More<\/a>
\n Assad Jafri<\/p>\n","protected":false},"excerpt":{"rendered":"

Circle CEO bullish on Trump\u2019s crypto policy despite no mention during speech Assad Jafri \u00b7 10 hours ago \u00b7 2 min read Circle CEO emphasizes need to reverse restrictive crypto measures amid optimism for Trump’s pro-crypto policies. 2 min read Updated: Jan. 21, 2025 at 12:22 am UTC E\u00f3in Noonan \/ MoneyConf \/ CC BY<\/p>\n","protected":false},"author":1,"featured_media":821490,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4633,29261],"tags":[],"class_list":{"0":"post-821489","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bullish","8":"category-circle"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/821489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=821489"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/821489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/821490"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=821489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=821489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=821489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}