After weeks of intense speculation, incoming US President Donald Trump has named Scott Bessent his Treasury Secretary pick. The drawn-out selection process has attracted many popular names, including Howard Lutnick of Cantor Fitzgerald, former Federal Reserve governor Kevin Warsh, and billionaire Marc Rowan. In the end, Trump went for Bessent, and this decision immediately garnered approval from different sectors.
Ripple’s CEO Brad Garlinghouse is one of the first personalities to laud the president’s pick, calling incoming Secretary Bessent “a perfect choice.” Many experts have long expected Bessent’s nomination, thanks to his pro-innovation stance on economic policies.
What Bessent’s Nomination Means To Crypto
Scott Bessent has extensive experience in the financial sector and founded the hedge fund Key Square Management. Before founding his own company, Bessent worked for Jim Chanos and George Soros and is known for his advocacies for tax reform, conservative trade policies, and deregulation.
I don’t want to get too far ahead of myself but…
Scott Bessent is the perfect pick by @realdonaldtrump!
He will be the most pro-innovation, pro-crypto Treasury Sec we’ve ever seen
— Brad Garlinghouse (@bgarlinghouse) November 23, 2024
Bessent’s nomination as the next Treasury secretary has been generally received positively by the market, including the crypto industry. Like the Securities and Exchange Commission (SEC), the Treasury secretary also has a say in regulating digital assets.
Ripple’s CEO Reacts To Treasury Sec Pick
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Author: Christian Encila
