Robinhood CEO Vlad Tenev, Bitcoin 
$88,102 He made evaluations on the reasons for the recent increase in the price and the role of the new US presidential candidate Donald Trump in this development. Tenev stated that Trump’s positive approach towards the crypto industry could trigger the revival of the crypto industry in the USA.
Bitcoin Rally and Trump’s Impact on Crypto
Tenev called Bitcoin’s rise to $90,000 “Trump Pump” in an interview with CNBC. He stated that the market is moving with the expectation that the Trump administration will approach crypto more positively.
Tenev stated that Trump’s supportive attitude towards crypto could change the previous regulations of the US Securities and Exchange Commission (SEC). Thus, he added, crypto innovation could increase and prevent many companies from moving abroad.
Tenev said that the “regulation by enforcement” approach that the SEC has implemented for four years may end under the Trump administration, and laws that will provide regulatory clarity may be passed.
Integration with Traditional Finance
Robinhood CEO noted that under the Trump administration, asset tokenization may become more viable in the US and traditional finance (TradFi) may become more integrated into the decentralized finance (DeFi) space.
Tenev explained that his company can manage its crypto business more effectively with blockchain technology and gave examples of how traditional finance can benefit from blockchain’s 24/7 trading services. He also added that Robinhood’s Legal Director Dan Gallagher is one of the candidates who can replace SEC Chairman Gary Gensler and that the Trump administration will bring positive regulations in this direction.
“The Trump administration’s change of the SEC’s previous regulatory approaches will allow for new regulations to support crypto innovation,”
Tenev emphasizes that Trump will be promising for the crypto industry.
Finally, Tenev stated that the US SEC’s previous warnings about Robinhood’s crypto business strengthened the expectation that the Trump administration would be more flexible and supportive in the future.
These developments in crypto markets have raised hopes that the US will become a crypto-centric economy under Trump’s potential presidency. The introduction of more flexible regulations for crypto companies could have positive effects in terms of innovation and investment.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
