Brad Garlinghouse, Brian Armstrong, Jeremy Allaire, and Others Among Top Candidates for Trump’s Crypto Council
The crypto sector is excited about Donald Trump's new advisory council, which could significantly influence how cryptocurrencies are regulated and classified. Industry leaders and key donors are eager and vying to secure a position on this influential board, aiming to guide U.S. crypto policy for the next four years.
The scramble for council membership is growing intense, reflecting the strategic importance of being involved in these early-stage discussions. As one insider seeking a position confided, "Everyone and their mother is begging to be on this council." With no official application process, the selection seems to hinge on connections and influence. Among some of the notable candidates are Marco Santori, the former general counsel of Kraken, and Ripple's founder Brad Garlinghouse, who recently met with Trump at Mar-a-Lago.
The Role and Influence of the Council
This council isn't just about prestige; it's about power. The members will have a direct hand in shaping legislation that could define whether cryptocurrencies are treated as commodities or securities, influencing their regulation under bodies like the SEC or the CFTC.
Among the other possible candidates are Circle's CEO Jeremy Allaire, who contributed $1 million to Trump's inaugural committee, Coinbase's Brian Armstrong, and Crypto.com's Kris Marszalek. Their involvement could potentially guide the regulatory framework in a direction more favorable to industry growth.
The council's influence extends beyond policy to the very nature of how digital assets will be integrated into the national economy. They'll collaborate with David Sacks, who has been named the AI & Crypto Czar, and work alongside departments like the Treasury and Homeland Security to craft a supportive environment for blockchain and crypto innovation.
There's also speculation about the strategic reserve focusing on digital currencies like Bitcoin, Ethereum, Solana, and USD Coin (USDC). This could position the U.S. as a global leader in blockchain technology, overturning the past negative narratives.