Circle CEO Predicts US Orders to Boost Crypto, Trump Becomes a Crypto Billionaire

Circle CEO Predicts US Orders Will Boost Crypto Adoption

Circle CEO Jeremy Allaire is now anticipating “imminently” executive orders from U.S. President Donald Trump, via which the executive can explicitly allow banks to trade digital assets, offer cryptocurrencies as an investment to wealthy customers, and include them in investment portfolios.
Circle is the company behind the USDC stablecoin, a cryptocurrency with a fixed value of one dollar. According to CoinGecko, USDC is the second-largest stablecoin by market capitalization and occupies eighth place. Trump has vowed to be a “crypto president”. He will sign more executive orders after the Monday inauguration to eliminate crypto law hurdles and scale adoption.
According to Reuters The incoming president’s cryptocurrency, which he founded himself, hit almost $12 billion in market capitalization on Monday. Allaire stated that he wanted to eliminate the Securities and Exchange Commission’s Staff Accounting Bulletin 121 which, according to him, “made it penal for banks and financial institutions and corporations to even include crypto assets on their balance sheet.”

“That’s something I think to watch closely in terms of EOs (executive orders),” Allaire said in an interview with the Reuters Global Markets Forum ahead of this week’s annual meeting of the World Economic Forum in Davos.
‘I could not be more supportive of dismantling it. I would hope that President Trump might make that move,’ Mr Allaire said, noting that Circle already had ties to banks as clients.

Trump Assumes Office as a Fresh Crypto Billionaire

The Trump family’s pull in the crypto space is new tokens worth way more than $10Bn on paper. Especially after some argue that the value of the digital assets was boosted by the rampage before the inauguration. The so-called meme coins received another lift on Monday after Robinhood. The trading site that contributed millions to the Trump campaign and later to Trump’s inauguration committee. It started allowing its clients to speculate on the $TRUMP token. Indeed, meme coins, a type of cryptocurrency connected to an internet joke or a celebrity figurehead, are rarely fungible on large exchange markets.

Friday night was also the time when Mr. Trump told the world about the new token called $Trump. Another token also, $Melania went on sale in the latter part of Sunday night. Current data suggests that affiliates associated with Trump own most of the tokens. Even though they begin to enter circulation over the next few years. Before the tokens began to trade, Forbes estimated Mr. Trump’s net worth at $6.7bn. It is with the vast majority of that tied to Trump Media and Technology Group, which owns Truth Social.

According to TheNewYorkTimes Ethics watchdogs revealed that brominations intensify as Mr Trump rejoins the White House freshman. The tokens open up fresh staking chances of communication with the Trump administration for nonprofit organizations, executives, companies and crypto traders within and beyond the United States. A prior critic of cryptocurrencies, Mr Trump came on board the digital asset industry in the previous year and vowed to make the USA the “_crypto capital of the world”. In September he and his sons started a crypto business called World Liberty Financial. He has also involved advocates for freeing up the crypto market to significant regulatory and advisory positions within his administration.

The project is that the crypto markets have soared since Mr Trump’s election victory. This week’s trading saw the price of Bitcoin soar past $109,000 to a new record high on Monday.