Christopher O’Brien was quoted in The Recorder for the article “Bitcoin, Cryptocurrency Practices Stand to Gain From Trump Election.” The following is an excerpt:
Trump has floated some ambitious policy changes that would involve crypto, including the possibility of creating a national bitcoin reserve and a crypto advisory council, firing U.S. Securities and Exchange Commission chair Gary Gensler, and banning the Federal Reserve from issuing a digital dollar as a central bank currency in favor of selling his own Trump Stablecoin backed by the dollar. Stablecoin, which would be issued by Trump's crypto outfit World Liberty Financial, raised $14 million in its first token sale.
The crypto markets reacted favorably to news of a second Trump term, with Bitcoin up 8% on Nov. 6 following news of Trump’s reelection, hitting an all-time high of $76,000.
“I think it’s going to be very positive,” Venable partner, co-chair and co-founder of the firm’s blockchain and digital currencies group Chris O’Brien said of how Trump’s reelection could affect his practice. “Of course, we won't know until we see action, but he is himself, a crypto entrepreneur now [and] he was supported very strongly by the industry.”
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