Brian Armstrong, CEO of cryptocurrency exchange Coinbase, said Tuesday at the Davos Economic Forum that Donald Trump's arrival in power in the United States means "the dawn of a new day" for the sector.
Donald Trump, who was sworn in on Monday, promised favorable policies for the market and opportunely launched his own digital currency this weekend, with resounding success.
A few hours before his inauguration, Bitcoin reached a record high of over $109,000.
“It’s the dawn of a new day. You have to remember that the last four years have been a very hostile environment in the United States,” Armstrong said at a panel discussion on cryptocurrencies at the World Economic Forum (WEF) in Switzerland.
“I think the lack of clarity was used strategically and that some people in the Biden administration tried to hinder or destroy the industry,” he said.
But with the new Trump administration, “I think we have a path to establishing clear rules. And I hope we have legislation passed in Congress that will attract a lot of new investment,” he added.
The cryptocurrency sector is “just getting started. It’s exciting,” Armstrong added, citing the performance of new financial products (ETFs) that track the performance of bitcoin.
Donald Trump successfully launched his own digital currency on Friday. After trading at around $7 shortly after its launch, the 200 million “Trump” tokens rose to around $75 each, before fluctuating around $54 on Monday.
He presented his new currency as a “memecoin,” a cryptocurrency with no economic or transactional utility, which takes advantage of the popularity of a personality or viral phenomenon on the internet, and is often identified as a purely speculative asset.
On Sunday, even before becoming first lady again, Melania Trump also launched her own cryptocurrency, called Melania. AFP
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