ChainCatcher news, according to Jinshi reports, Scott Bessent, the founder of Key Square Group LP and one of the leading candidates for Treasury Secretary under the Trump administration, praised Trump's economic agenda amid intensifying competition for cabinet positions, believing it will promote economic growth across various sectors.Recently, the competition for Trump's second Treasury Secretary has entered the public eye, with Howard Lutnick, CEO of Cantor Fitzgerald LP, former U.S. Trade Representative Robert Lighthizer, and former SEC Chairman Jay Clayton mentioned as potential candidates.According to insiders, Lutnick is also vying for the position, having been selected by Trump as a co-chair during the transition period. He is opposing Bessent, claiming that the hedge fund manager has been weak on key protectionist commitments, including tariff issues. It is reported that the nomination for the new U.S. Treasury Secretary could be announced as early as this week.

ChainCatcher news, according to BeInCrypto, ARK Invest expressed optimism in its latest communication that Trump's return to the White House could allow digital asset companies like Circle and Kraken to go public and achieve regulatory clarity.ARK Invest stated, "Possibilities include reopening the initial public offering (IPO) window for digital asset companies like Circle and Kraken." The firm noted that potential legislative reforms, such as the Financial Innovation and Technology for the 21st Century Act (FIT21), could clarify regulatory provisions for stablecoins and digital assets. Additionally, the asset management company expects that the "enforcement regulatory" approach of SEC Chairman Gary Gensler will come to an end, which could create a more competitive environment for cryptocurrency companies.

ChainCatcher news, according to Cointelegraph, Scott Bessent is one of the leading candidates for the position of U.S. Secretary of the Treasury in the new administration of President-elect Donald Trump, and he holds a friendly stance towards cryptocurrencies like Bitcoin.In a recent statement related to cryptocurrencies, Bessent said: "I am very excited about the President's acceptance of cryptocurrencies, and I think this aligns very well with the Republican Party; cryptocurrencies represent freedom, and the cryptocurrency economy will continue to exist."Previous news indicates that market sources show Trump's main advisors support former Soros Fund Manager Scott Bessent for the position of Secretary of the Treasury. Sources say Trump has selected KRISTI NOEM as Secretary of Homeland Security.

ChainCatcher news, BitMEX co-founder Arthur Hayes pointed out in his new article "Black or White?" that the incoming Trump administration may emulate China's economic development model, or promote the return of manufacturing to the United States through large-scale fiscal stimulus and industrial policies. The policies will include tax incentives and subsidies for key industries, as well as providing cheap financing through the banking system.This is expected to lead to a rapid expansion of bank credit, potentially exceeding the $4 trillion stimulus scale during the pandemic. In this context, Bitcoin will become the best choice against the devaluation of fiat currency, with the potential to reach $1 million.

ChainCatcher news, according to CoinGape, ADA (Cardano) founder Charles Hoskinson expressed his willingness to collaborate with the U.S. government under Trump to help formulate cryptocurrency legislation. The goal is to create a clear regulatory framework for the cryptocurrency industry.Hoskinson announced these plans in a recent speech, stating that developing positive policies regarding cryptocurrency requires support from both Democrats and Republicans. His company, Input Output Global (IOG), will establish a separate policy department for cryptocurrency regulation. This office will focus on creating a legislative framework that incorporates the provisions of the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA). He added, "I will work with lawmakers and the government to push a bipartisan bill through."

ChainCatcher message, former SEC Chairman Jay Clayton stated in an interview with CNBC: "If Musk wants to use 20% of his energy to make America better, we should figure out how to make that happen. We should have ethical rules, transparency, etc., but we should not prevent Musk from joining the Trump administration."

ChainCatcher News: Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation (FDIC), resigned in May amid an investigation into the agency's toxic workplace culture. However, Gruenberg stated that he would remain in office until a successor is appointed and confirmed. The Trump administration is preparing to relax regulations on the FDIC to some extent, which has tightened scrutiny of banks following the regional banking crisis that erupted in 2023. For example, the agency has indicated it will take a more stringent approach to reviewing transactions involving banks of a certain size.A top priority for the Trump administration is to oust SEC Chairman Gary Gensler, who has stated he would fire him on his first day in office. One of the candidates being considered by Trump's allies to replace Gensler is Dan Gallagher, the Chief Legal Officer of Robinhood, who previously served as an SEC commissioner.Other candidates include Christopher Giancarlo, a senior advisor at Willkie Farr & Gallagher and former chairman of the Commodity Futures Trading Commission (CFTC), and Dalia Blass, a partner at Sullivan & Cromwell.

ChainCatcher News, President Biden delivered a national address on Thursday local time, stating that he will work to ensure a smooth transition from the current administration to the incoming Donald Trump administration."Yesterday, I spoke with President-elect Trump to congratulate him on his victory, and I assured him that I have instructed the entire government to cooperate with his team to ensure a peaceful and orderly transition. This is what the American people deserve." He added that he hopes Trump's recent victory in the 2024 presidential election will dispel his doubts about the validity of the 2020 election. "I also hope we can address the issues regarding the fairness of the American electoral system. It is honest, fair, transparent, and trustworthy, regardless of winning or losing," Biden stated.

ChainCatcher news, Canadian benchmark bond yields are rising in tandem with U.S. Treasury trends, as financial markets bet that Trump will reapply inflationary pressure. The upward movement in yields is bound to complicate the Bank of Canada's efforts to revive the economy and prevent inflation from slowing too quickly.So far, the Bank of Canada has been the most aggressive in easing policies among the G7 central banks this year. Karl Schamotta, Chief Market Strategist at foreign exchange firm Corpay, said, "As the risks of rising import prices begin to materialize, the Bank of Canada is likely to slow the pace of easing." Measures by the Trump administration that could exacerbate inflation include imposing a 10% tariff on all imported goods and significant tax cuts that could lead to an expanded deficit. (Jin Shi)

ChainCatcher news, according to Jinshi reports, JPMorgan CEO Dimon has no plans to take a position in the Trump administration, and he will continue to stay at the bank.

ChainCatcher news, according to CoinDesk, Trump's economic advisor Scott Bessent stated in an interview with the Financial Times that a potential Trump administration is unlikely to deliberately devalue the dollar and will support a strong dollar policy. Bessent believes that sound economic policies will naturally lead to a strong dollar and mentioned that Trump's proposed tariffs of up to 20% on imported goods will ultimately be weakened.Although Trump is seen as pro-cryptocurrency, a strong dollar policy may limit the gains of risk assets priced in dollars, such as cryptocurrencies. Bessent is the founder of the global macro investment firm Key Square Group and is considered a leading candidate for Trump's Secretary of the Treasury position. As the November 5 election approaches, prediction markets show Republican candidate Trump is narrowing the gap with Democratic opponent Kamala Harris.