Crypto News Today: Will Trump Pick Kevin Warsh for Treasure Secretary?

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President-elect Donald Trump’s potential pick for Treasury Secretary, Kevin Warsh, a former Federal Reserve governor, has drawn attention across political and financial circles. While his appointment isn’t confirmed yet, this move could lead to big changes in U.S. economic policy and have lasting effects on the cryptocurrency market.

Kevin Warsh to Become US Treasury Secretary

Kevin Warsh, who served on the Federal Reserve Board of Governors, is reportedly Trump’s leading choice for Treasury Secretary. Sources say Trump recently met with Warsh at his Mar-a-Lago estate in Florida to discuss the role.

Speculation goes further, with some suggesting Warsh might also be in line to replace Jerome Powell as Federal Reserve Chair when Powell’s term ends in 2026. This possibility has many in the political and financial worlds focusing on Warsh’s views, especially regarding cryptocurrencies.

Will CBDCs Pose a Problem?

Warsh has publicly supported central bank digital currencies (CBDCs) over private cryptocurrencies like stablecoins. This has raised concerns in the crypto world, with many fearing that his policies could slow down crypto innovation.

However, some remain cautiously optimistic, pointing to Warsh’s investment history, which suggests he might not be as hostile to crypto as initially feared.

Betting platforms like Polymarket are now showing a 60% chance that Warsh will secure the Treasury Secretary position.

Trump’s Long-Term Strategy

In addition to Warsh, Trump is also considering Scott Bessent, a former hedge fund executive and Yale University professor, for the role of leading the National Economic Council. Bessent is seen as a potential successor to Warsh as Treasury Secretary, suggesting a long-term strategy for Trump’s economic team.

While Warsh’s appointment might signal a more cautious approach to private cryptocurrencies, it could also lead to a balanced policy that supports both CBDCs and crypto innovation.

While the dust settles on Trump’s economic team, the crypto world will be watching closely for any signs of how policies under Warsh could unfold.