Trump, once a vocal Bitcoin critic, now talks of a national Bitcoin reserve if re-elected.
Trump aims to boost America’s crypto standing and plans to arrest SEC Chair Gary Gensler.
The speech at the Bitcoin Conference marked a shift in Trump’s stance on cryptocurrency.
In a pivot that has left many scratching their heads, former
President Donald Trump has declared that, if re-elected, he will establish a
national Bitcoin reserve. This declaration came during a speech at the recent
Bitcoin Conference in Nashville over the weekend, a gathering that has
traditionally been no friend to Trump, given his past disdain for the digital
currency. But it seems the times, and Trump’s views, are changing.
Trump’s previous pronouncements on Bitcoin have been anything but
complimentary. In 2019, he famously tweeted that he was “not a fan” of Bitcoin
and other cryptocurrencies, calling them “highly volatile and based on thin
air.” So, what’s behind this about-face? The answer lies in a familiar target
for Trump: China.
The China Angle: Trump’s Crypto Confrontation
Trump’s newfound enthusiasm for Bitcoin appears to be motivated by
a desire to counteract China’s growing influence in the world of digital
currency. At the Bitcoin Conference, he cited competition with China as a
primary reason for his proposal, arguing that America needs to build a
substantial Bitcoin reserve to maintain its competitive edge.
“If
we don't embrace crypto and bitcoin technology, China will, other countries
will. They'll dominate, and we cannot let China dominate,”
Trump
declared to a mixed reaction from the audience. He also said, “Never sell your bitcoin,” Trump said. “If
I am elected, it will be the policy of my administration, the United States of
America, to keep 100% of all the bitcoin the U.S. government currently holds or
acquires into the future.”
China has recently cracked down
on cryptocurrency and imposed strict controls
on capital movement across its borders. However, residents are still able to
trade currencies such as bitcoin on exchanges, and Chinese investors can open
overseas bank accounts to buy crypto assets.
Trump’s rhetoric underscores his longstanding strategy of
positioning China as a geopolitical rival, a theme that resonated throughout
his presidency and continues to be a central part of his political narrative.
In addition to his Bitcoin pledge, Trump made another startling
promise: to arrest Gary Gensler, the current Chair of the Securities and
Exchange Commission (SEC), if he returns to the White House. Gensler has been a
controversial figure in the crypto community, known for his stringent
regulatory stance on digital currencies. You can find our coverage of the SEC
Chair, here.
Arresting Gensler: Trump’s SEC Showdown
This bold claim was met with cheers from the crypto enthusiasts in
the crowd, who have long viewed Gensler as an obstacle to the industry’s
growth. However, the legality and feasibility of such a move remain highly
questionable and have sparked significant debate among legal experts.
A Strategy With Political Overtones
Trump’s sudden embrace of Bitcoin and his attack on Gensler are
seen by many as strategic moves to galvanize support from the tech-savvy and
libertarian-leaning segments of the electorate. By positioning himself as a
champion of cryptocurrency, Trump is tapping into a growing voter base that is
skeptical of government intervention and regulation.
Moreover, his focus on China and national security plays well with
his core supporters, who have consistently rallied behind his tough-on-China
rhetoric. By framing the establishment of a Bitcoin reserve as a patriotic and
strategic necessity, Trump is blending his new crypto policy with his broader
political themes.
Reactions and Implications
The reactions to Trump’s announcements have been mixed. Proponents
of cryptocurrency have largely welcomed the news, viewing it as a significant
step towards mainstream acceptance and integration of digital currencies.
Critics, however, remain skeptical, questioning Trump’s sincerity and the
practicalities of his proposals.
Financial experts have pointed out that creating a national
Bitcoin reserve would be a complex and unprecedented move, requiring
substantial changes in policy and significant investments. Additionally, the
potential arrest of an SEC Chair raises serious legal and constitutional
questions, which many believe are more bluster than actionable policy.
Regardless of the feasibility, Trump’s latest statements have
undeniably stirred the pot, injecting new energy and controversy into the
ongoing debate over the future of cryptocurrency in America. Whether this is a
genuine change of heart or a calculated political maneuver, one thing is clear:
Trump’s involvement in the crypto space is set to be as unpredictable and
headline-grabbing as his entire political career.
For more finance and finance-adjacent news, follow our Trending section.
In a pivot that has left many scratching their heads, former
President Donald Trump has declared that, if re-elected, he will establish a
national Bitcoin reserve. This declaration came during a speech at the recent
Bitcoin Conference in Nashville over the weekend, a gathering that has
traditionally been no friend to Trump, given his past disdain for the digital
currency. But it seems the times, and Trump’s views, are changing.
Trump’s previous pronouncements on Bitcoin have been anything but
complimentary. In 2019, he famously tweeted that he was “not a fan” of Bitcoin
and other cryptocurrencies, calling them “highly volatile and based on thin
air.” So, what’s behind this about-face? The answer lies in a familiar target
for Trump: China.
The China Angle: Trump’s Crypto Confrontation
Trump’s newfound enthusiasm for Bitcoin appears to be motivated by
a desire to counteract China’s growing influence in the world of digital
currency. At the Bitcoin Conference, he cited competition with China as a
primary reason for his proposal, arguing that America needs to build a
substantial Bitcoin reserve to maintain its competitive edge.
“If
we don't embrace crypto and bitcoin technology, China will, other countries
will. They'll dominate, and we cannot let China dominate,”
Trump
declared to a mixed reaction from the audience. He also said, “Never sell your bitcoin,” Trump said. “If
I am elected, it will be the policy of my administration, the United States of
America, to keep 100% of all the bitcoin the U.S. government currently holds or
acquires into the future.”
China has recently cracked down
on cryptocurrency and imposed strict controls
on capital movement across its borders. However, residents are still able to
trade currencies such as bitcoin on exchanges, and Chinese investors can open
overseas bank accounts to buy crypto assets.
Trump’s rhetoric underscores his longstanding strategy of
positioning China as a geopolitical rival, a theme that resonated throughout
his presidency and continues to be a central part of his political narrative.
In addition to his Bitcoin pledge, Trump made another startling
promise: to arrest Gary Gensler, the current Chair of the Securities and
Exchange Commission (SEC), if he returns to the White House. Gensler has been a
controversial figure in the crypto community, known for his stringent
regulatory stance on digital currencies. You can find our coverage of the SEC
Chair, here.
Arresting Gensler: Trump’s SEC Showdown
This bold claim was met with cheers from the crypto enthusiasts in
the crowd, who have long viewed Gensler as an obstacle to the industry’s
growth. However, the legality and feasibility of such a move remain highly
questionable and have sparked significant debate among legal experts.
A Strategy With Political Overtones
Trump’s sudden embrace of Bitcoin and his attack on Gensler are
seen by many as strategic moves to galvanize support from the tech-savvy and
libertarian-leaning segments of the electorate. By positioning himself as a
champion of cryptocurrency, Trump is tapping into a growing voter base that is
skeptical of government intervention and regulation.
Moreover, his focus on China and national security plays well with
his core supporters, who have consistently rallied behind his tough-on-China
rhetoric. By framing the establishment of a Bitcoin reserve as a patriotic and
strategic necessity, Trump is blending his new crypto policy with his broader
political themes.
Reactions and Implications
The reactions to Trump’s announcements have been mixed. Proponents
of cryptocurrency have largely welcomed the news, viewing it as a significant
step towards mainstream acceptance and integration of digital currencies.
Critics, however, remain skeptical, questioning Trump’s sincerity and the
practicalities of his proposals.
Financial experts have pointed out that creating a national
Bitcoin reserve would be a complex and unprecedented move, requiring
substantial changes in policy and significant investments. Additionally, the
potential arrest of an SEC Chair raises serious legal and constitutional
questions, which many believe are more bluster than actionable policy.
Regardless of the feasibility, Trump’s latest statements have
undeniably stirred the pot, injecting new energy and controversy into the
ongoing debate over the future of cryptocurrency in America. Whether this is a
genuine change of heart or a calculated political maneuver, one thing is clear:
Trump’s involvement in the crypto space is set to be as unpredictable and
headline-grabbing as his entire political career.
For more finance and finance-adjacent news, follow our Trending section.
Louis Parks has lived and worked in and around the Middle East for much of his professional career. He writes about the meeting of the tech and finance worlds.
Could Warren Buffett’s Treasury Hoard Signal Trouble Ahead?
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
📣 Stay updated with the latest in finance and trading!
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