Trump's election victory is ushering in a new era for the U.S. crypto industry.

With Donald Trump's emergence in the American presidential elections, the cryptocurrency industry is preparing for a major transformation. Trump's promise to remove SEC Chairman Gary Gensler and his words supporting Bitcoin mining are generating excitement in the sector. Additionally, promises such as the commutation of Ross Ulbricht's sentence are also drawing attention.

The Trump Effect in the World of Cryptocurrency Has Begun

According to unofficial results, the United States presidential elections have concluded with Donald Trump's victory. According to the U.S. press, Trump has regained North Carolina and Georgia, states he lost in the 2020 elections. Analysis suggests that Trump's chances of victory, expected to reach 306 electoral votes, are above 95%.

In a speech he gave in Florida, Trump sent victory messages, while his opponent Kamala Harris is reported to be lagging behind in key states like Pennsylvania, Wisconsin, and Michigan.

Trump's statements, which include significant promises to the cryptocurrency sector during the election campaign, are generating excitement in the industry. One of Trump's primary goals is to remove SEC Chairman Gary Gensler. Gensler, who was appointed during the Biden administration and is known for his tough stance against cryptocurrency companies, could potentially be replaced by a crypto-friendly new chairman, which has the potential to eliminate uncertainties in the cryptocurrency world.

Other notable promises from Trump include promoting domestic Bitcoin mining and creating a national Bitcoin reserve. Trump also plans to increase Bitcoin adoption, block central bank digital currency (CBDC) initiatives, and commute the sentence of Silk Road founder Ross Ulbricht. Ulbricht is currently facing two life sentences plus 40 years in prison.

Trump's strategy, which envisions that Bitcoins seized from criminal organizations will not be sold but held in the national reserve, is thought to help alleviate the country's debt burden. Leading figures in the sector are approaching Trump's promises with caution. Eric Vorhees, the founder of Shapeshift, criticizes the nationalist approach to Bitcoin mining, while Jameson Lopp, the founder of the Casa wallet service, views the Bitcoin reserve plan with skepticism.