Present this Tuesday at the World Economic Forum in Davos, Switzerland this week, Brian Armstrong, CEO of the Coinbase exchange platform, did not hide his optimism for the cryptocurrency sector following the coming to power of Donald Trump. Here’s what to remember from his intervention.
The manager begins with an almost lyrical tone and believes that the Republican presidency marks “the dawn of a new day” for this industry. Quoted by BFMhe continues: “I would say it’s the dawn of a new day. It must be remembered that the last four years in the United States, the environment was very hostile”.
And the CEO added:
I think the lack of clarity has been exploited and some people in government have tried, I think, to hinder or kill the industry. I believe we have a path to having clear rules. And I hope that we’re going to have legislation passed in Congress that will bring in a lot of new investment.
According to Brian Armstrong, the sector “is only just beginning” and opens little by little: “The largest financial services companies in the world, every fintech and many neobanks are all integrating crypto”. Enough to modernize the entire financial sector, according to him, and the “make it faster, cheaper and more efficient”.
Donald Trump, the “crypto president”?
As a reminder, Donald Trump launched his own cryptocurrency on the eve of taking office. The price of this memecoin literally soared to more than 70 euros before falling back to around 40 euros at the time of writing these lines. This initiative raises many ethical questions and does not fail to raise questions, as we explained to you at the start of the week.
Either way, the US president promised to make the United States “the world capital of cryptocurrencies”. He walked his talk by appointing supporters of the sector to key positions in the new US administration. The billionaire would even consider creating a federal reserve where he would store certain cryptocurrencies like Bitcoin.
Finally, let us point out that Donald Trump is not short of a contradiction on this subject. He explained in 2019: “I am not a fan of bitcoin and other cryptocurrencies, which are not money and whose value is very volatile and based on wind. Unregulated cryptoassets may facilitate illicit behavior, including the drug trade and other illegal activities”.
