As President-elect Donald Trump prepares for a second term, his incoming administration has already nominated several crypto-friendly faces for key leadership roles.

Voters who bought into the Republican rhetoric that the Biden administration led a so-called “war on crypto” are likely excited. After all, Trump is the first elected official to hawk his own digital currency.

While cryptocurrency awareness is relatively high in the U.S., most Americans remain disinterested. According to a Pew Research study, roughly six-in-10 Americans (63%) say “they have little to no confidence that current ways to invest in, trade or use cryptocurrencies are reliable and safe.”

But with the U.S. Securities and Exchange Commission poised for an overhaul, and a slate of cryptocurrency advocates (listed below) jockeying for cabinet or council positions, the era of crypto cronyism within the U.S. executive branch is upon us — whether Americans like it or not.

What could go wrong?

Scott Bessent

Trump’s nominee for Treasury Secretary, Scott Bessent, is a well-known cryptocurrency advocate. The former Soros Fund Management CIO made headlines when he expressed excitement about crypto’s potential to revolutionize finance, aligning it with Republican ideals of freedom and innovation.

The 62-year-old hedge fund manager has been vocal about distancing crypto’s future from the likes of Sam Bankman-Fried, framing Bitcoin (BTC) as a unifying economic opportunity for younger generations disillusioned by traditional markets.

Should Bessent be at the helm of the Treasury, he would likely shake up digital assets and reduce the risk of severe tariffs.