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The Coin Rise 2025-01-07 10:40:49

Fresh Appointments Spark a Crypto “Space Race” in the U.S.: TRM Labs Exec

Fresh Appointments Spark a Crypto “Space Race” in the U.S.: TRM Labs Exec

Recent political developments in the United States signal a major shift toward fostering a crypto friendly environment. Ari Redbord, head of legal and government affairs at TRM Labs, likened the current enthusiasm to a “space race” for dominance in the digital asset industry during a January 6 interview on CNBC’s Squawk Box. U.S. Positions Itself for Crypto Leadership “There’s this excitement and cadence of almost a space race,” Redbord said, emphasizing the nation’s potential to either catch up to or surpass global competitors in digital asset adoption and innovation. He attributed this momentum to key pro-crypto appointments under Donald Trump’s administration , which he believes could reshape federal policy. Among the most notable appointments are Scott Bessent as Treasury Secretary, Paul Atkins as chair of the Securities and Exchange Commission, and David Sacks, a venture capitalist, who has been named the White House’s first “crypto czar.” “The people are the policy,” Redbord noted, highlighting the alignment of these appointees with digital asset innovation and artificial intelligence advancements. Beyond Bitcoin: Expanding Use Cases While Bitcoin remains a focal point, Redbord stated that the digital asset landscape extends far beyond the leading cryptocurrency. “Over the past few months, we’ve seen fintechs like Stripe and Cash App use stablecoins at scale for payments,” he explained, citing a broader shift toward practical applications like cross-border transactions and remittances. He highlighted the evolving perception of Bitcoin, which has traditionally been viewed as a store of value. Now, however, it is increasingly being leveraged for real-world use cases, including payments and financial inclusion. This trend, Redbord suggested, is indicative of a maturing market that could spur further adoption. When asked about Bitcoin’s price trajectory in the near future , Redbord refrained from offering a specific number. However, he predicted that it would climb “significantly higher,” driven by factors such as strategic Bitcoin reserves in the U.S. and potentially other nations. Industry analysts echo Redbord’s optimism. On January 7, crypto trader Daan Crypto Trades remarked that Bitcoin’s current rally is merely the beginning of its price discovery phase, a process where supply and demand dynamics determine the asset’s market price. The post Fresh Appointments Spark a Crypto “Space Race” in the U.S.: TRM Labs Exec appeared first on TheCoinrise.com .

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