#Trump Appoints Crypto-Friendly Official#

Trump's appointment of crypto-friendly officials has had a positive impact on the cryptocurrency market, particularly as Bitcoin prices stabilized around $105,000. Analysts believe that Trump's new appointments to the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have eased the heightened volatility that emerged during his inauguration. Notably, Trump appointed Mark Uyeda, a senior SEC official, as interim head of the agency. Uyeda had previously publicly criticized the SEC's cryptocurrency policies under former chair Gary Gensler, labeling its enforcement policies as "ill-conceived" and calling for clearer regulations on cryptocurrency. These appointments are seen as a signal of Trump's pro-crypto stance, contributing to reduced market volatility and providing support for Bitcoin. Moreover, the decline in the US Dollar Index has encouraged investors to seek alternative assets, further propelling Bitcoin's stability.