Bitcoin price jumps as Trump plans to name Paul Atkins as new SEC Chair
Investing.com-- Bitcoin price has erased a portion of its losses on Wednesday afternoon on news that U.S. president-elect Donald Trump is planning to name Paul Atkins as new SEC Chair.Bitcoin price is steadying below recent peaks as traders awaited more cues on U.S. monetary policy and what Donald Trump’s administration will entail for crypto. Major altcoins performed better on the day.rose 0.4% to $95,611.
Trump’s cabinet picks- particularly for the Treasury Secretary and Secretary of Commerce roles- have both presented pro-crypto positions. Recent data also showed the government mobilizing about $1.9 billion of Bitcoin onto an exchange, raising fears of a potential sale event.The U.S. government has transferred approximately $33.6 million in cryptocurrency from a wallet linked to assets seized from the defunct crypto exchange FTX and trading firm Alameda. The funds were moved to two unidentified addresses.
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