Republican Presidential contender Donald Trump is considering appointing the CEO of BlackRock, Larry Fink, as the new US Treasury Secretary.
According to reports, Trump would likely bring Fink in as part of his administration as Treasury Secretary.
Fink adds to the long list of pro-crypto moves that Trump has been making on his campaign trail. Fink, who heads the $10 trillion asset manager, is a Bitcoin proponent, given that BlackRock offers spot Bitcoin ETFs.
Trump Considers Fink as Treasury Secretary
According to a report by the New York Post, Fink has a close relationship with Trump as he previously served as his money manager. Therefore, Trump could seek out Fink for insights into the economy.
The BlackRock asset management firm has also handled investment portfolios by Trump for years. In 2017, Fink was among the executives from financial firms invited to a meeting at the White House.
On the other hand, Fink has remained relatively mum about US politics. While not showing whether he is leaning on either side, he makes the ideal choice of Trump.
Fink’s possible appointment as US Treasury Secretary by Trump comes as he continues to take a pro-crypto stance.
BlackRock is among the financial institutions on Wall Street offering spot Bitcoin exchange-traded funds (ETFs). The firm is also awaiting the final approval of S-1 registration statements for its spo Ether ETF.
Fink also recently endorsed Bitcoin as a legitimate financial instrument. In a recent interview with CNBC, Fink noted that his past skeptical remarks on Bitcoin and the crypto industry were wrong. He said that Bitcoin was emerging as a legitimate financial instrument for investors to have in their portfolios.
Fink also noted that Bitcoin could be used as an alternative to gold. He stated that the largest crypto by market cap was an ideal option when investors were frightened and wanted to hedge during economic uncertainty.
Trump’s Pro-Crypto Campaign
Trump has been running a pro-crypto campaign to attract significant crypto votes. The crypto community has embraced the appointment of Fink because of the efforts of the BlackRock CEO to bolster crypto legitimacy in the US.
Trump’s pro-crypto remarks have earned him the favor of industry pundits such as the co-founders of Gemini, Tyler, and Cameron Winklevoss. The two have donated $2 million to the Trump campaign.
Trump is also expected to speak at the Bitcoin 2024 conference later this week. During the conference, Trump will also host a crypto roundtable featuring 100-150 industry players.
The crypto roundtable is expected to discuss developments in the US cryptocurrency industry. Trump is also offering a photo session with crypto industry players that pay $60,000 per individual or $100,000 per couple.
These developments seek to add to the crypto fundraising efforts announced by Trump. The Trump presidential campaign has already accepted donations in multiple cryptocurrencies.
