{"id":10029,"date":"2025-01-28T09:47:16","date_gmt":"2025-01-28T09:47:16","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=10029"},"modified":"2025-01-28T09:47:16","modified_gmt":"2025-01-28T09:47:16","slug":"us-senate-confirms-trumps-pick-billionaire-scott-bessent-as-treasury-secretary","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=10029","title":{"rendered":"US Senate Confirms Trump\u2019s Pick Billionaire Scott Bessent As Treasury Secretary"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">The <\/span><span data-preserver-spaces=\"true\">US<\/span><span data-preserver-spaces=\"true\">\u00a0Senate has officially confirmed Scott Bessent, a billionaire hedge fund manager and Donald <\/span><span data-preserver-spaces=\"true\">Trump\u2019s<\/span><span data-preserver-spaces=\"true\"> nominee, as the next <\/span><span data-preserver-spaces=\"true\">US<\/span><span data-preserver-spaces=\"true\">\u00a0Treasury Secretary. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The 27 January 2025 vote concluded with 68 senators in favor and 29 opposed, with 16 Democrats crossing party lines to support <\/span><span data-preserver-spaces=\"true\">Bessent\u2019s<\/span><span data-preserver-spaces=\"true\"> nomination.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Ripple CEO Brad Garlinghouse publicly <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/bgarlinghouse\/status\/1884031313931559149\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">congratulated Bessent on X<\/span><\/a><span data-preserver-spaces=\"true\">, expressing confidence in his ability to foster policies that promote <\/span><span data-preserver-spaces=\"true\">US<\/span><span data-preserver-spaces=\"true\">\u00a0tech and cryptocurrency innovation. <\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Bessent To Oversee Critical Areas As Treasury Secretary<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">As Treasury Secretary, Bessent will oversee critical areas, including tax collection, the $28 trillion Treasury debt market, financial regulations, fiscal policy, international sanctions, and foreign investments.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Bessent, a 62-year-old from Tennessee, is a staunch supporter of <\/span><span data-preserver-spaces=\"true\">Trump\u2019s<\/span><span data-preserver-spaces=\"true\"> economic agenda. His priorities include renewing $4 trillion in expiring tax cuts, implementing tariffs, and increasing domestic oil production. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He has also dismissed concerns that <\/span><span data-preserver-spaces=\"true\">Trump\u2019s<\/span><span data-preserver-spaces=\"true\"> policies could contribute to inflation, as reported by Reuters. During his confirmation hearing, Bessent criticized <\/span><span data-preserver-spaces=\"true\">what he called<\/span><span data-preserver-spaces=\"true\"> \u201c<\/span><span data-preserver-spaces=\"true\">out of control<\/span><span data-preserver-spaces=\"true\">\u201d <\/span><span data-preserver-spaces=\"true\">government spending.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Congrats to the newly-confirmed Treasury Secretary Scott Bessent! He&#8217;ll be an incredible leader for Americans!  <\/p>\n<p>I&#8217;m confident he&#8217;ll enact common-sense economic policies, working with the Administration and Congress to grow US tech and crypto innovation.<\/p>\n<p>\u2014 Brad Garlinghouse (@bgarlinghouse) <a href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1884031313931559149?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">January 28, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Known for his pro-crypto stance, Bessent has <\/span><span data-preserver-spaces=\"true\">voiced opposition to<\/span><span data-preserver-spaces=\"true\"> the idea of a central bank digital currency (CBDC), a sentiment echoed by Trump. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Speaking at<\/span><span data-preserver-spaces=\"true\"> a Senate Finance Committee hearing on 16 January 2025, Bessent described CBDCs as a tool for nations with limited investment alternatives, stating,<\/span><span data-preserver-spaces=\"true\"> \u201c<\/span><span data-preserver-spaces=\"true\">The US <\/span><span data-preserver-spaces=\"true\">has no need for<\/span><span data-preserver-spaces=\"true\"> a central bank digital currency.<\/span><span data-preserver-spaces=\"true\">\u201d <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He further emphasized his enthusiasm for cryptocurrency, telling Fox Business last July,<\/span><span data-preserver-spaces=\"true\"> \u201c<\/span><span data-preserver-spaces=\"true\">Crypto represents freedom, and the crypto economy is here to stay<\/span><span data-preserver-spaces=\"true\">.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Bessent\u2019s<\/span><span data-preserver-spaces=\"true\"> role will also involve implementing <\/span><span data-preserver-spaces=\"true\">Trump\u2019s<\/span><span data-preserver-spaces=\"true\"> Jan. 23 crypto executive order, <\/span><span data-preserver-spaces=\"true\">which established<\/span><span data-preserver-spaces=\"true\"> a governmental working group to develop the <\/span><span data-preserver-spaces=\"true\">country\u2019s<\/span><span data-preserver-spaces=\"true\"> crypto strategy. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This group includes David Sacks, <\/span><span data-preserver-spaces=\"true\">Trump\u2019s<\/span><span data-preserver-spaces=\"true\"> AI and crypto czar, alongside the chairs of the SEC and CFTC. Together, they will shape the future of <\/span><span data-preserver-spaces=\"true\">U.S.<\/span><span data-preserver-spaces=\"true\"> crypto policy.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Trump Appoints Crypto-Friendly Individuals To Key Positions<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Last month, Trump\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/news\/donald-trump-picks-crypto-ally-paul-atkins-as-next-sec-chair\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">nominated former Securities and Exchange Commission Commissioner Paul Atkins<\/span><\/a><span data-preserver-spaces=\"true\">, a crypto advocate, to chair the agency. Industry leaders hope <\/span><span data-preserver-spaces=\"true\">Atkins\u2019<\/span><span data-preserver-spaces=\"true\"> leadership will bring a more favorable regulatory environment for digital assets.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Under the Biden administration, outgoing SEC Chair Gary Gensler took a stringent approach to the crypto industry, initiating enforcement actions against several high-profile companies and projects.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Trump has been critical of\u00a0<\/span><span data-preserver-spaces=\"true\">Gensler\u2019s<\/span><span data-preserver-spaces=\"true\">\u00a0policies, promising during his campaign to fire him<\/span><span data-preserver-spaces=\"true\">\u00a0\u201c<\/span><span data-preserver-spaces=\"true\">on day one.<\/span><span data-preserver-spaces=\"true\">\u201d\u00a0<\/span><span data-preserver-spaces=\"true\">However, Gensler pre-empted this move by announcing his resignation, effective January.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As reported, the SEC\u00a0<\/span><span data-preserver-spaces=\"true\">has<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><span data-preserver-spaces=\"true\">taken<\/span><span data-preserver-spaces=\"true\">\u00a0a\u00a0<\/span><span data-preserver-spaces=\"true\">tougher<\/span><span data-preserver-spaces=\"true\">\u00a0stance against crypto firms in 2024.<\/span><span data-preserver-spaces=\"true\">\u00a0More specifically, the regulator\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/news\/sec-hit-crypto-firms-with-4-7-billion-in-enforcement-actions-in-2024-over-3000-surge-from-2023\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">imposed nearly $4.7 billion<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0in enforcement actions against crypto companies, a 3,018% increase from 2023.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-coinbase-listings\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">15 New &amp; Upcoming Coinbase Listings to Watch in 2025<\/span><\/a><\/strong><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/us-senate-confirms-trumps-pick-billionaire-scott-bessent-as-treasury-secretary\/\">US Senate Confirms Trump\u2019s Pick Billionaire Scott Bessent As Treasury Secretary<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The US\u00a0Senate has officially confirmed Scott Bessent, a billionaire hedge fund manager and Donald Trump\u2019s nominee, as the next US\u00a0Treasury Secretary. The 27 January 2025 vote concluded with 68 senators in favor and 29 opposed, with 16 Democrats crossing party lines to support Bessent\u2019s nomination. Ripple CEO Brad Garlinghouse publicly congratulated Bessent on X, expressing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-10029","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10029","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10029"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10029\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}