Regulation
‘Crypto President’ Trump’s ‘Loser’ Regulations Should Help Coinbase’s Bitcoin Leverage, Expert Says – Coinbase Glb (NASDAQ:COIN)
Chris SenyekChief Investment Strategist at Wolfe Researchrecently expressed his views on the potential impact of a Donald Trump win the 2024 elections in the cryptocurrency market.
What happened: Senyek suggested that a Trump presidency could ease regulations on cryptocurrencies, which would benefit companies like Coinbase Global Inc. COIN because of their importance Bitcoin BTC/USD leverage.
“Trump would be less harsh on regulating cryptocurrencies, and Coinbase would be a big beneficiary given its influence over bitcoin,” Senyek said on CNBC’s “Last Call” Tuesday.
See also: Improve Your Retirement Portfolio: The Benefits of Adding Cryptocurrency
Why is this important?Senyek’s comments come in the context of former president Donald Trump‘s announced its intention to participate at the 2024 Bitcoin convention, which could strengthen his image as “Crypto President”.
Trump’s potential participation in the 2024 Bitcoin Convention, a key event in the cryptocurrency calendar, could have significant implications for the industry.
Pratik KalaResponsible for research at DigitalX Limitedhas predicts Trump victory in the upcoming election, but warns that immediate cryptocurrency-friendly regulations may not be a priority.
A recent report by 10x Search explore the Recent Bitcoin Price Rise and its potential connection to Trump’s strong position in the 2024 election race. The report, titled “Is the Trump Bitcoin Pump Sustainable?”, highlights a 4% surge in the price of Bitcoin following the announcement that the president Joe Biden will remain in the race despite a poor performance in the presidential debate.
Price action: At the time of writing, Bitcoin was trading down 2.10% at $60,860.66, according to Benzinga Pro.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
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