Following his 2024 presidential election win, Donald Trump has nominated pro-Bitcoin Howard Lutnick as his Secretary of Commerce. The president-elect is seeing his second administration beginning to take shape, with its constituents proving to be a massive plus for the cryptocurrency sector.
Lutnick is best known as the chairman and CEO of Cantor Fitzgerald. In an announcement from President-elect Trump, he noted that the nominee will be tasked with leading his “Tariff and Trade agenda” while also maintaining responsibility as the co-chair of the Trump Transition Team.
JUST IN: 🇺🇸 President-elect Donald Trump nominates pro-#Bitcoin Howard Lutnick for Secretary of Commerce.
— Watcher.Guru (@WatcherGuru) November 19, 2024
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Trump Nominates Cantor Fitzgerald CEO as Secretary of Commerce
It is nearly impossible to understate the impact that Donald Trump’s 2024 election win has had on crypto. The asset class has surged since the race was called, with Bitcoin reaching an all-time high of $93,000 last week. IT performance is expected to continue impressing as the president-elect begins to bring his administration together.
Now, Trump has announced the nomination of Cantor Fitzgerald CEO and pro-Bitcoin option Howard Lutnick as Secretary of Commerce. To this point, Lutnick has been the face of Trump’s transition team and has been an outspoken advocate of his incoming administration.
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Accepting a position in Trump’s second-term cabinet would be a shift for Lutnick, who has been with Cantor Fitzgeral since the 1980s. Although a position as commerce secretary will lessen his impact on crypto-related policies, his appointment continues a common theme. Specifically, it brings even more pro-crypto voices to the administration
Eralier this month, Trump nominated another pro-crypto politician—Florida’s Matt Gaetz—to be appointed his Attorney General. The trend shows that cryptocurrency regulation is likely going to be a focus of the administration. Moreover, it could happen sooner than many expect.