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Taking Stock of Possible Trump Administration Cabinet Members: Who Are the Crypto-Friendly Faces?

Taking Stock of Possible Trump Administration Cabinet Members: Who Are the Crypto-Friendly Faces?

BlockBeatsBlockBeats2024/11/13 04:06
By:BlockBeats

Several crypto-friendly individuals are rumored to join the Trump administration, including Dan Gallagher as a potential SEC Chairman, Scott Bessent as a possible Treasury Secretary, and Musk to lead the Department of Government Efficiency (DOGE).

Original Title: "Potential Cabinet Members of Trump Administration: Who Are the Crypto-Friendly Figures?"
Original Author: 0xjs, Golden Finance


As Trump swept to victory over Harris in the latest US presidential election, the post-election era has seen attention shift to Trump's cabinet lineup.


For Trump's "America First" policy to be implemented on the ground, there is a need for talent in various areas such as trade, economy, diplomacy, and border control that align with Trump's expectations.


This article outlines the expected members of Trump's cabinet, such as Dan Gallagher, who is expected to be appointed as the chair of the US SEC, Scott Bessent as the US Secretary of the Treasury, Senator Marco Rubio as the US Secretary of State, and Congressman Mike Waltz as the potential National Security Advisor.


Below are some of the candidates that Trump is currently selecting or preparing to select, starting with crypto-related candidates followed by general government officials.


US Secretary of Defense Pete Hegseth, Nominee


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Trump (Donald Trump) on Tuesday (November 12) announced the nomination of Fox News TV host and combat veteran Pete Hegseth as the US Secretary of Defense.


In a statement, President Trump said, "Pete is tough, smart, and a true believer in America First. Under Pete's leadership, America's enemies will think twice — our military will be made great again, and America will never shrink. ... Pete will be a brave and patriotic advocate for our 'peace through strength' policy."


The statement mentioned that Hegseth is a graduate of Princeton University, holds a graduate degree from Harvard University, and is an Army veteran who has participated in combat operations in Guantanamo Bay, Iraq, and Afghanistan, earning two Bronze Star Medals and a Combat Infantryman Badge for battlefield actions. The statement also mentioned that Hegseth "has been an anchor at Fox News for eight years, using that platform to fight for our military and veterans." Trump's statement also said that his bestselling book, "The War on Warriors," reveals the "left's betrayal of our warriors." Hegseth has also led two veterans' advocacy organizations.


Hargreaves insists on the decentralized value of Bitcoin and commits not to sell Bitcoin.


D.O.G.E. Head Musk, has confirmed


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In August 2024, Musk tweeted that he would oversee a U.S. government office called the Department of Government Efficiency (DOGE) during Trump's second term, aimed at streamlining government expenses, simplifying administrative processes, and increasing the efficiency of taxpayer funds. Since then, Musk has repeatedly stated at Trump campaign rallies that he will reduce $2 trillion in U.S. government spending.


As the biggest contributor to Trump's successful 2024 presidential campaign, the latest reports indicate that Musk has been deeply involved in Trump's decision-making, such as seamlessly joining a call between the Ukrainian president and Trump, with Musk entering the Trump family group photo even before Ivanka.


On November 13, Musk posted an image featuring a Shiba Inu and the words DOGE (Department of Government Efficiency), stating: All actions of the Department of Government Efficiency will be made public online for maximum transparency. If the public thinks we cut something important or failed to cut some waste, let us know! We will also list the dumbest taxpayer expenditures. This is both tragic and entertaining.


U.S. SEC Chairman Dan Gallagher, expects


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Dan Gallagher


Trump pledged to fire current SEC Chairman Gary Gensler and appoint a new chairman on his first day in office, while also immediately establishing a Bitcoin and Cryptocurrency Presidential Advisory Committee to design transparent regulatory guidance for the entire industry and complete it within 100 days.


Currently, Robinhood's Chief Legal Officer and former SEC Commissioner Dan Gallagher is a top contender for the position of U.S. SEC Chairman. Gallagher's career began as a summer intern at the U.S. Securities and Exchange Commission (SEC), he was promoted to commissioner in 2011, then moved to the private sector, and joined Robinhood in 2020. Since then, he has frequently appeared at industry events, sharing his views with Tuongvy Le of Bain Capital Cryptocurrency and Coinbase's Chief Legal Officer Paul Grewal.


Gallagher has long criticized the current SEC's enforcement actions against crypto companies, stating at a September hearing that federal "regulatory uncertainty" is stifling American crypto innovation and advocating for specialized regulation of digital assets. Gallagher has indicated that he will work to reduce ongoing litigation against cryptocurrency companies and "compile a rather long list of actions that need to be reversed."


Treasury Secretary Scott Bessent Expected


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Scott Bessent


The current front-runner for the position of U.S. Treasury Secretary is Scott Bessent. According to the Financial Times, Bessent is a hedge fund manager who served as an economic advisor to a former president and is widely seen as a leading candidate for the role in the new Trump administration. Bessent is the founder of Key Square Capital Management and became one of Trump's top economic advisors in 2023, with Trump recently describing him as a "Wall Street top analyst."


Scott Bessent is a strong advocate for cryptocurrency, especially Bitcoin. Some of his recent remarks include:


"I'm excited about the President's embrace of cryptocurrency, I think it's very aligned with the Republican Party. Cryptocurrency represents freedom, and the cryptocurrency economy will continue to exist. I think Bitcoin is universal, and one of the most exciting things about Bitcoin is that it has drawn in young people and those who have not previously been involved in the market. Cultivating a market culture in America, convincing people there is a system that fits them, that's the essence of capitalism."


According to two sources close to the incoming U.S. president, Bessent has met with Trump.


When asked if he would join the Trump administration, he previously told CNBC, "I'll do anything as requested by President Trump."


If nominated and confirmed by the Senate, Bessent would hold one of the most powerful positions in the Trump administration.


CIA Director John Ratcliffe, Nomination


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Ratcliffe was a Republican federal congressman from Texas, served as the Director of National Intelligence in the final year and a half of Trump's first term, leading the U.S. government's spy agencies during the COVID-19 pandemic.


Trump said in a statement, "I look forward to John being the first person in history to have served in the top two intelligence jobs in our country. He will be a fearless warrior for the rights of all Americans under the Constitution, while ensuring the highest level of national security and achieving peace through strength."


Ambassador to Israel Nominee Mike Huckabee


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Trump announced his intention to nominate former Arkansas Governor Mike Huckabee as Ambassador to Israel.


In the statement, Trump said, "Mike has been an incredible public servant, governor, and faith leader for many years." He continued, "He loves Israel and the Israeli people, and likewise, the Israeli people love him. Mike will work tirelessly to achieve peace in the Middle East!"


Secretary of State Marco Rubio, Expected


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Marco Rubio


According to Reuters on November 11, sources said Trump is expected to appoint U.S. Senator Marco Rubio as Secretary of State. Rubio was once Trump's competitor but later became one of his biggest supporters in the Senate. Rubio swiftly defended Trump's position to quickly end Russia's war in Ukraine, calling for negotiations to get Kyiv to give up the occupied territory.


National Security Advisor Invitee Mike Waltz


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Mike Waltz


According to the Associated Press on November 12, sources said Monday that Trump has invited U.S. Congressman, retired Army National Guard officer, and veteran Michael Waltz to be his national security advisor. Waltz, a Republican lawmaker from Central Florida, has been re-elected for three terms and is the first "Green Beret" member elected to the U.S. House of Representatives, easily winning re-election last week. He has served as chair of the House Armed Services Committee's Subcommittee on Military Readiness and is a member of the House Foreign Affairs and Permanent Select Committee on Intelligence. As chair of the House Armed Services Committee's Subcommittee on Military Readiness, he has criticized everything from the Pentagon teaching critical race theory in military institutions to providing the Air Force with a single overpriced metal liner bag. Waltz has written that he believes China poses a greater threat to America than any other country.


UN Ambassador Elise Stefanik, Confirmed


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Elise Stefanik


Trump described Stefanik as "an incredibly strong, tough, and smart America First fighter." Stefanik is one of the House Republicans who voted against certifying Joe Biden's 2020 victory over Trump, and she was the first House member to support his third presidential run.


Border Czar Tom Homan, Confirmed


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Tom Homan


On the evening of the 10th, Trump announced that Tom Homan, who served as the Acting Director of Immigration and Customs Enforcement during the previous administration, will oversee national border affairs. Trump posted on Truth Social, saying, "I am pleased to announce that former U.S. Immigration and Customs Enforcement Director, border security expert Tom Homan, will join the Trump Administration to manage our country's borders ('Border Czar'), including but not limited to the southern border, northern border, all maritime and aviation security." "No one is better at overseeing and controlling our border than him," and Homan "will be responsible for repatriating all illegal immigrants to their home countries."


Homan was a police officer and the former head of Immigration and Customs Enforcement (ICE), describing the U.S. border immigration issue as "the greatest national security vulnerability America has faced since the 9/11 attacks, and we must address it." In the summer of 2024, he addressed America's illegal immigrants at the Republican National Convention saying, "You'd better start packing your bags now."


White House Chief of Staff Susie Wiles, Confirmed


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Susie Wiles with Trump


She led Trump's 2024 campaign. She will be the first woman appointed as chief of staff and may help shape Trump's first 100 days' strategy.


Middle East Envoy Nominee Steven Witkoff


Trump has nominated long-time friend and real estate investor Steven Witkoff as the Middle East envoy.


White House Counsel Nominee Bill McGinley


Trump announced that Bill McGinley, who served as cabinet secretary during his first term, will serve as White House Counsel.


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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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