Under Trump's leadership, the heads of the SEC and other agencies will have the authority to decide whether cryptocurrencies will become a larger and more formal part of the financial system. This choice has significant implications for the global economy, and the risks are high, as evidenced by the collapse of crypto giant FTX in 2022 and the resulting catastrophic contagion risks.

Most of the initiatives came to an abrupt halt with the bankruptcy of FTX, and the impact even extended to the entire public health sector.