Donald Trump’s potential appointment of JPMorgan CEO Jamie Dimon as Treasury Secretary has drawn significant backlash from the cryptocurrency community.
Trump’s Treasury Secretary Choice and Its Impact on Crypto
U.S. President Donald Trump is considering nominating JPMorgan Chase CEO for the position of US Treasury Secretary, following his selection of Bitcoin advocate JD Vance for the vice presidency.
Additionally, Trump has made it clear that he would not remove Jerome Powell from his position as chair of the US Federal Reserve before the end of his tenure. Maxis and the crypto market "shake heads" as he prepares to bring Jamie Dimon, an anti-Bitcoin figure.
Trump’s Assurance on Powell’s Position
In a recent interview with Bloomberg, Republican presidential candidate Donald Trump discussed a wide range of issues, including the US economy, President Powell, taxes, and tariffs. According to the ex-president, he has no plans to attempt to remove Fed Chair Jerome Powell from office before his tenure concludes in 2026.
If Trump becomes president in November, he is thinking about appointing Jamie Dimon, CEO of JPMorgan Chase, to replace Janet Yellen as secretary of the Treasury. Even last year, he referred to Dimon as a "Highly overrated Globalist"; he had been critical of Dimon until lately.
Crypto Market’s Reaction to Dimon’s Possible Appointment
Coingape shares that the cryptocurrency community was dismayed to hear that Trump was considering anti-Bitcoin Jamie Dimon for the position of senior Treasury official. Bitcoin is a "fraud" and "Ponzi scheme," according to Dimon, while Yellen is wary about cryptocurrencies and Bitcoin.
Fred Kruger thinks Donald Trump is trying to be diplomatic because he wants things to change. With the crypto market looking for a nominee that is friendly to crypto, the election is becoming increasingly focused on crypto. Also seeking regulatory clarification, the sector is eyeing unambiguous rulemaking on crypto.
Rising spot Bitcoin ETF inflow, increased buying from both institutional and individual investors, and solid technical and on-chain charts all contributed to a resurgence in the buying mood in the global cryptocurrency market.
The price of Bitcoin has risen over 1% in the last 24 hours, reaching $66,000. At this time, the price is $65,703. The low for the day is $62,487, and the high is $66,101. Not only that, but trading volume has jumped another 13% in the past day, showing that traders are extremely interested.