Trump Mulls JPMorgan CEO For Treasury Secretary, Bullish Or Bearish For Crypto?

After picking pro-Bitcoin JD Vance as Vice President, US Donald Trump consider bringing JPMorgan Chase CEO for the US Treasury Secretary role. Trump also revealed that he will not oust current U.S. Federal Reserve Chair Jerome Powell before his term ends. Bitcoin maxis and crypto market ‘shake head’ as he plans to bring anti-Bitcoin Jamie Dimon.

Crypto Community Reacts To Trump’s Tapping Jamie Dimon

Republican presidential candidate nominee Donald Trump in a recent Bloomberg interview talked on topics such as Jerome Powell, US economy, taxes, tariffs, and more. The former president said he will not try ousting Fed Chair Jerome Powell before his term ends in 2026.

Trump is considering JPMorgan CEO Jamie Dimon for Treasury Secretary replacing Janet Yellen, if he wins in November. He had until recently been critical of Dimon and even called Dimon a “Highly overrated Globalist” last year.

The crypto community expressed disappointment as Trump considered anti-Bitcoin Jamie Dimon for the top job at the Treasury Department. While Yellen has been cautious over crypto and Bitcoin, Dimon believes Bitcoin is a “fraud” and “Ponzi scheme.”

Bitcoin maxi including Fred Kruger hopes for a change and believes Donald Trump is being diplomatic here. The crypto market seeks a crypto-friendly nominee and the election turns more crypto-focused. The industry also eyes clear rulemaking on crypto for regulatory clarity.

Jamie Dimon is not what we want

— Fred Krueger (@dotkrueger) July 17, 2024

Also Read: Bitcoin ETF Inflow: BlackRock’s IBIT Crosses Record $18.5 Billion AUM

Crypto Rebounds Defying Market Risks

The global crypto market witnessed renewed buying sentiment amid growing spot Bitcoin ETF inflow, more buying from institutional and retail investors, and strong technical and on-chain charts.

BTC futures and options traders are buying heavily, especially in the United States. Coinbase premium gap is once again rising as markets expect Fed rate cuts in September. CME futures open interest jumps over $10 billion. According to Matrixport, the upside momentum will continue for longer.

BTC price hits $66,000, up over 1% in the past 24 hours. The price is currently trading at $65,703. The 24-hour low and high are $62,487 and $66,101, respectively. Furthermore, the trading volume has increased further by 13% in the last 24 hours, indicating a massive interest among traders.

Also Read: Ethereum ICO Wallets Deposit 3,631 ETH to Kraken Just Before Ether ETF Approval