Circle CEO Jeremy Allaire expressed optimism about President Donald Trump’s potential to enact policies favorable to the crypto industry, including executive orders that could remove barriers to digital asset adoption, Reuters reported on Jan. 20.

Speaking at the Reuters Global Markets Forum during the World Economic Forum in Davos, Allaire highlighted the urgency of reversing restrictive measures like the SEC’s Staff Accounting Bulletin (SAB) 121.

According to Allaire:

“SAB 121 effectively penalized banks and financial institutions for holding cryptocurrencies on their balance sheets.”

He emphasized that repealing such regulations could significantly enhance the integration of digital assets within traditional finance.

Circle, the issuer of USD Coin (USDC), has been vocal in advocating for regulatory reforms to support innovation in the crypto sector. The company illustrated its commitment with a $1 million USDC donation to Trump’s inauguration committee, signaling confidence in the administration’s potential crypto policies.

Despite Allaire’s remarks, Trump’s inauguration speech on Jan. 20 omitted any mention of Bitcoin and crypto. Instead, he focused on topics such as tariffs, immigration, and energy independence, leaving investors speculating about the timing of potential crypto-related announcements.

Nevertheless, the market experienced significant volatility during the day. Bitcoin (BTC) surged to a record high of $109,000 ahead of the inauguration before falling to a low of $100,000.

According to CryptoSlate data, Bitcoin maintained a six-figure price level of roughly $103,500 as of press time.

Optimism under Trump

Overall, Bitcoin has rallied nearly 50% since Trump’s election in November, with investors buoyed by expectations of favorable policies.

Recent data highlights strong institutional interest in digital assets. Last week, Bitcoin exchange-traded products (ETPs) recorded $1.9 billion in inflows, part of a larger Go to Source to See Full Article
Author: Assad Jafri