On November 11, Fox Business journalist Eleanor Terrett posted on social media, highlighting that Bessent holds a “very friendly” stance on cryptocurrencies. Bessent is reportedly in favor of Trump’s plan to make the US the “crypto capital of the world.” His statement, “Crypto means freedom, and the crypto economy is here to stay,” has stirred significant interest in the crypto community.

Bessent emphasized that one of the most exciting aspects of Bitcoin is its ability to bring young people and those who have not previously participated in financial markets into the fold. He said: “One of the most exciting things about Bitcoin is that it brings in young people and those who have not participated in markets before. Cultivating a market culture in the US, where people believe in a system that works for them, is the centerpiece of capitalism.”

Trump, in his search for a Treasury Secretary, recently met with Bessent and another investor, John Paulson, on November 8. Both Bessent and Paulson have long supported Trump’s presidential campaign financially, making them prominent candidates for this position. According to Reuters, Trump wanted Paulson to be appointed as Treasury Secretary, but if that did not work out, he would likely choose Bessent.

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Paulson, who served as an economic advisor to Trump during his 2016 campaign, has previously expressed skepticism about cryptocurrencies. In 2021, he criticized Bitcoin and other cryptocurrencies, stating they have “no intrinsic value” and expressing concerns about their volatility compared to traditional markets. In contrast, Trump himself had also criticized Bitcoin, calling it a “scam” and “just another currency competing with the US dollar.” However, during his 2024 campaign, Trump has embraced a more pro-crypto stance, declaring that “Crypto is the future.”

Once in office, Trump will not only need to appoint a new Treasury Secretary but also select officials for key financial institutions such as the US Securities and Exchange Commission (SEC). According to the Washington Post, potential candidates for SEC chair include Daniel Gallagher, Hester Peirce, and Mark Uyeda.

The crypto world is eagerly waiting to see which figures Trump will work with in his second term and how their influence will shape the crypto economy moving forward.

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