In a series of high-profile appointments, President Donald Trump has named several prominent figures from the cryptocurrency world to crucial positions in his administration. The surprise moves have crypto insiders speculating about a potential shift in the government’s stance toward digital assets.
Crypto Allies Take Key Posts
Leading the pack is tech billionaire Elon Musk, who will join a new advisory board tasked with slashing government regulations, dubbed the “department of government efficiency” or “Doge” for short. Musk, a vocal proponent of cryptocurrencies like Bitcoin and Dogecoin, is expected to push for more crypto-friendly policies.
Another notable pick is Stephen Feinberg, co-CEO of private equity firm Cerberus Capital Management, who was tapped for the number two position at the Pentagon. Feinberg previously served on a White House intelligence advisory board and his firm has invested in multiple defense contractors. His views on crypto regulations are not well known, but some see his appointment as an opening for the industry to gain influence within the Defense Department.
Miller Joins Musk’s “Doge” Team
Katie Miller, wife of Trump senior advisor Stephen Miller, was also named to Musk’s “Doge” advisory board. Miller previously served as press secretary to Vice President Mike Pence and deputy press secretary at the Department of Homeland Security. Her exact role in shaping crypto policy remains to be seen.
“Katie Miller will soon be joining Doge! She has been a loyal supporter of mine for many years, and will bring her professional experience to Government Efficiency,” Trump announced on his Truth Social platform.
Latin America Envoy Draws Scrutiny
A more controversial pick was Trump’s special envoy to Latin America, Mauricio Claver-Carone. The former White House aide was fired in 2022 as head of the Inter-American Development Bank after an ethics probe found he had an intimate relationship with a staffer and created a hostile workplace. Claver-Carone denied the allegations.
Trump said Claver-Carone, who also served in his first administration, would focus on migration and drug smuggling issues in the region. “Mauricio knows the region, and how to put America’s interests FIRST,” the president declared, without mentioning the crypto angle. Some Latin American countries like El Salvador and Argentina have been on the forefront of crypto adoption, so Claver-Carone’s role is still worth watching.
Fears of Revolving Door
While crypto enthusiasts cheered the appointments as a sign that digital currencies are going mainstream, critics sounded the alarm about the potential for conflicts of interest and a “revolving door” between industry and government.
“Putting crypto millionaires and billionaires in charge of writing the rules is a massive ethical minefield,” said one D.C. watchdog. “The potential for backroom deals and policies that benefit their business interests, rather than the public, is incredibly high.”
But others argued that having industry insiders at the table is vital for creating smart, effective regulations that balance innovation and consumer protection. With the crypto market still in its early, volatile stages, governments around the world are struggling to get the policy right.
Setting the Tone for Crypto Policy
As President Trump fills out the rest of his administration and legislative agenda, the early appointments have put crypto watchers on alert. While it’s too soon to predict any specific policies, the elevation of pro-crypto figures to key posts could shape the direction of regulations for years to come.
At the very least, crypto is likely to be a much bigger part of the policy conversation, as both advocates and skeptics jockey for influence. With the market maturing and adoption growing, the stakes for getting crypto rules right have never been higher. All eyes will be on Musk, Miller and the rest of Trump’s crypto coterie to see if they tilt the balance toward a more industry-friendly approach, or if traditional regulatory forces push back.
- Will Musk and other crypto executives entering government take a hardline anti-regulation stance?
- Can industry insiders strike the right balance between protecting consumers and fostering crypto innovation?
- With global competition heating up, will the U.S. aim to become the most crypto-friendly jurisdiction?
The answers to those questions will have major implications for the future of money – and will start to come into focus as Trump’s pro-crypto cabinet gets to work.