Trump Mulls JPMorgan CEO For Treasury Secretary, Bullish Or Bearish For Crypto?
Highlights
- US Donald Trump considers JPMorgan Chase CEO for the US Treasury Secretary role.
- Crypto community expressed disappointment to Trump's selection.
- Bitcoin price moves near $65,700 as traders look for further cues.
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
- ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana
- Trump Says Meeting with China May Not Happen, Bitcoin Drops
- The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
