Robinhood CEO Vlad Tenev gave his opinion on the current Bitcoin worth rally to as excessive as $90,000 and how US President-elect Donald Trump has contributed to this growth. Tenev additionally instructed that the crypto business within the US might start to thrive now with Trump as the subsequent president.
Robinhood CEO Comments On Bitcoin Rally And Trump’s Impact
During a CNBC interview, Vlad Tenev talked about that the Bitcoin rally is solely what many have known as the ‘Trump Pump.’ He opined that the market is reacting to the widespread optimism that the Donald Trump administration will take a extra constructive method to the crypto business because the US President-elect has promised to embrace cryptocurrencies and make the US the middle of crypto innovation.
The BTC price has risen over 24% within the final seven days, and Donald Trump has undoubtedly contributed to this rally, provided that he took a pro-crypto stance proper from the start of his marketing campaign. The Robinhood CEO additional defined how Donald Trump’s pro-crypto stance might matter.
He cited the US Securities and Exchange Commission’s (SEC) regulation-by-enforcement method over the past 4 years and how that might change underneath Trump. Vlad Tenev famous how this stifled crypto innovation within the US and compelled a number of crypto companies offshore.
He remarked that the thought is that the US SEC’s regulation-by-enforcement method will cease underneath the Donald Trump administration and that there will probably be laws that gives regulatory readability. The Robinhood CEO remarked that this innovation might come via because the Republicans management the manager and legislative branches.
Potential Game-Changing Changes Under Donald Trump
The Robinhood CEO talked about asset tokenization might change into extra possible within the US underneath Donald Trump. He hinted at the potential of conventional finance (TradFi) being extra built-in into the decentralized finance (DeFi) area underneath the subsequent administration.
Tenev used his firm, Robinhood, as a case examine of why such a transfer might matter. According to him, they spend much less managing their crypto enterprise as a result of cost-effectiveness of blockchain expertise. He cited an occasion of how TradFi may benefit from the 24/7 buying and selling providers that the blockchain gives.
Interestingly, Robinhood Chief Legal Officer (CLO) Dan Gallagher has emerged as one of many potential candidates to switch US SEC Chair Gary Gensler. Meanwhile, a Donald Trump administration will undoubtedly be a welcome growth for the Robinhood CEO and his workforce, contemplating that the US SEC warned them earlier within the 12 months about their crypto enterprise.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto information author and editor who has coated subjects that lower throughout DeFi, NFTs, sensible contracts, and blockchain interoperability, amongst others. Boluwatife has a knack for simplifying probably the most technical ideas and making it simple for crypto newbies to know. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The introduced content material could embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty in your private monetary loss.
