Trump Would Bridge The Gap Between Cryptocurrency And Banks, VCs Hope: ‘Still A Poisoned Chalice Today’
Amid ongoing banking challenges, the cryptocurrency industry is hopeful that Donald Trump‘s recent election victory could pave the way for improved banking relations. This optimism stems from Trump’s promises to establish a national Bitcoin (CRYPTO: BTC) reserve and a regulatory council.
What Happened: The crypto sector has faced significant hurdles in securing banking partners since the collapse of FTX and other firms in 2022, The Wall Street Journal reported on Wednesday. Many banks have distanced themselves from crypto companies, exacerbated by regulatory warnings and lawsuits against firms like Coinbase (NASDAQ:COIN), Kraken, and Binance (CRYPTO: BNB).
Trump’s recent announcement of venture capitalist David Sacks as the White House crypto czar has sparked hope for policy changes. Sacks has emphasized the need to address banking …
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