With veteran investor Scott Payette as Minister of Treasury, the encryption markets are preparing for possible transformations in the US policy under Trump's leadership.
Scott Bessin, Director of Winter Harf Funds, Asserted By the Senate in a 68-29 vote as minister of the new US Treasury. With the main responsibilities of tax cuts, inflation and definitions, his appointment can also change major changes to how to organize encryption, leaving many of them wondering what the next.
Deep relationships with Wall Street
Bessent got the degree of political science from Yale in 1984 and began his career in BrowNTHERS Harriman, among other places. Join later on the hedge box at Jim Chanos, Kynikos Associas. With George Soros as a great agent of Chanos, Bessent jumped to the Soros Boxes Management in 1991.
In 2015, he co -founded Key Square Group with Michael Germino, where he benefited from political and economic visions of total investments. The company received an anchor investment of $ 2 billion from Soros. As Crypto.News said earlier, Key Square was, at its peak, one of the leading total hedge funds By 2023, its assets fell to about $ 577 million.
Bessent is now leading, leading the Treasury, and undertook its role during a critical period, charged with managing the 28 trillion dollars and addressing the provisions of the expiration of the provisions of the tax cuts and jobs law. While the tax policy, inflation and definitions dominate its mandate, the encryption industry is closely monitoring of potential organizational transformations.
CBDC discount
Bessent expressed his support for Bitcoin (BTC), Participate in interview With Fox News he was "enthusiastic about the president's coding" and adds that "encryption revolves around freedom and the encryption economy here to survive."
Moreover, Republican Senator Centum Lomes looks at a "decisive ally" in paying the strategic bitcoin reserve initiative, indicating that he is a "hero of digital assets".
However, the enthusiasm of the Bess's encryption does not include digital currencies of the Central Bank. On the Senate Finance Committee on January 16th hearingPesin said that the federal reserve should not make a state -controlled digital dollar.
"I do not see any reason calling on the United States to the central bank's digital currency. In my opinion, the central bank's digital currency is for countries that do not have other investment alternatives."
Scott bet
Bitcoin
Bessent's actions may say more than his words. In January, Bloomberg I mentionedCiting the US government's ethics office, that Bessent has up to $ 500,000 invested in an ISHARES exchange box linked to the Bitcoin price.
Like his assets held through Key Square Capital, Bess's will have to strip ETF encryption To avoid conflicts of interest, the Trump administration has made it clear that it plans to double the regulation of encryption, as the subject of encryption plays a major role in the Trump presidential agenda.
Earlier in January, an executive order cost The Ministry of Treasury and other federal agencies with review and coordination of regulations that affect the digital asset sector. The matter emphasized coordination, however Short From the explicit indication of Bitcoin or other specific cryptocurrencies, only saying that the working group "must evaluate potential creativity and maintain the stock of national digital assets."
"Within 30 days of the date of this matter, the Ministry of Treasury, the Ministry of Justice, the Securities and Exchange Committee, and other relevant agencies, whose heads of the working group are included, all regulations and guidance are documents, requests or other elements that affect The digital assets sector, "says the executive.
It is clear that Trump's executive orders were not impressed by the encryption community - mainly because Bitcoin did not get a specific shout. Moreover, there is a lot of drama in the encryption community around Ripple's An alleged attempts To prevent the White House batch to get a strategic Bitcoin reserve. All this adds more uncertainty about what the next Bessent step on encryption may be.
Timing
BESSENT's immediate focus will include negotiation on the roof of the debt and preparing for the 2025 tax season.
However, the discussions surrounding the policy of the United States and its timetable remain without a solution.
Source link