According to Bloomberg, Donald Trump’s victory in the upcoming US elections could have a significant impact on the cryptocurrency market. Analysts believe that a potential Trump win could benefit cryptocurrency companies planning to conduct initial public offerings (IPO). Among such companies, USDC Circle stablecoin issuer and mining company Northern Data stand out.
Trump’s Impact on the Cryptocurrency Market
However, Trump may create difficulties for foreign cryptocurrency exchanges, such as Binance, OKX, and Deribit, which will have to compete with American players. Experts note that the strengthening of American positions in the cryptocurrency market in the event of Trump’s victory could have a negative impact on foreign platforms, making it difficult for them to operate in the American market.
Analysts have also paid special attention to the Chinese company Bitmain, which supplies cryptocurrency mining equipment in the US. Possible trade restrictions or sanctions against China that Trump may impose could negatively affect Bitmain’s operations and, consequently, the availability of mining equipment in the US.
Overall, analysts believe that the American crypto industry expects a more flexible and supportive policy from the new White House administration, which could accelerate sector development and encourage more active investment attraction.
Pressure on Regulators for Reform
Earlier, authorities in several American states criticized the US Securities and Exchange Commission (SEC), accusing it of creating a «suffocating» regulatory climate for the cryptocurrency industry. These sentiments underscore the growing pressure on regulators and the need for reforms in cryptocurrency regulation.
