"If the Senate confirms him, the next person whose signature adorns U.S. paper currency will be a fan of the digital currency ecosystem set up to replace the conventional financial system. Bessent runs Key Square Group, a macro investing firm. He worked for prominent investor George Soros three decades ago and was, according to The Wall Street Journal, "one of the driving forces" behind Soros Fund Management's famous bet - that netted a more than $1 billion profit - that the British pound would collapse."
"Bitcoin and crypto as a whole are now in his sights. "I have been excited about [Trump's] embrace of crypto and I think it fits very well with the Republican Party, the ethos of it. Crypto is about freedom and the crypto economy is here to stay," he said in an interview with Fox Business in July. "Crypto is bringing in young people, people who have not participated in markets.""
President-elect Donald Trump named hedge fund manager Scott Bessent, a cryptocurrency enthusiast, as his pick for Treasury Secretary. If confirmed by the Senate, Bessent's signature would appear on U.S. paper currency while he supports digital currencies positioned as alternatives to conventional finance. Bessent runs Key Square Group and previously worked for George Soros, contributing to Soros Fund Management's profitable bet against the British pound. Bessent publicly praised Trump's embrace of crypto, calling it aligned with Republican values and a vehicle for attracting younger, previously nonparticipating market entrants. Other crypto-connected executives were considered for administration roles.
Read at Coindesk
Unable to calculate read time
Collection
[
|
...
]