encryption The golden age! 250 friendly factions enter Congress, is he the next Secretary of the Treasury of the United States?

The encryption camp's power is expanding, and the record-breaking fundraising for the election is successful

According to Fox News, more than 250 candidates who support the crypto assets industry have successfully entered the new Congress based on the preliminary results of the US congressional elections. The cryptocurrency industry has invested over $200 million to support these pro-encryption candidates, setting a new historical record.

In Ohio, Republican blockchain entrepreneur Bernie Moreno successfully defeated Democratic Senator Sherrod Brown, who had been in office for 18 years. In addition, encryption-friendly individuals such as West Virginia Governor Jim Justice, Indiana's Jim Banks, New York's Kirsten Gillibrand, and Texas' Ted Cruz also won in this election. Experts point out that most of these new congressional members are Republicans who are inclined to support the rapid integration of cryptocurrency into the national financial system.

Further reading Updates on the US election! The Republican Party has won the majority of seats, and the encryption-friendly faction has won, but the demon king is still there?

Popular candidate for Minister of Finance? Bessent supports BTC

In terms of the selection of the Minister of Finance, Scott Bessent, the founder of Key Square Group, is considered the most likely candidate. According to the data from the forecasting platform Polymarket, Bessent has a probability as high as 82% of becoming the next Minister of Finance.

Image source: Polymarket 'Who will Trump nominate as Treasury Secretary?' Most netizens speculate that it is Scott Bessent

John Paulson, the hedge fund manager who was originally considered a popular candidate, recently stated that he would not accept the position, citing 'complex financial obligations that would prevent me from serving in an official capacity.' With Paulson's withdrawal, other possible candidates include Howard Lutnick from Cantor Fitzgerald, a close ally of Tether, Jay Clayton, and Jamie Dimon.

Looking forward to the encryption policy, Bessent looks forward to the era of free finance

"Fox News" reporter Eleanor Terrett said that Bessent has a very friendly attitude towards cryptocurrency, especially BTC. Bessent has publicly stated:

"Cryptocurrency represents freedom, and encryption will continue to exist in the economy. The most exciting thing about BTC is that it can attract young people and those who have never participated in the market. Cultivating a market culture in the United States that makes people believe the system can work for them is at the core of capitalism."

Image source: X Journalist Eleanor Terrett of Fox News said that Scott Bessent has a friendly attitude towards Bitcoin.

Bessent's successful appointment as Treasury Secretary could bring about a major shift in economic policy on U.S. digital assets, including the possibility of building a strategic BTC reserve. The idea was presented by Trump in his speech at the BTC Annual Meeting in July 2024. In addition, Trump's team is reviewing candidates for other important regulatory positions, including the chairmanship of the Securities and Exchange Commission (SEC), possibly Robinhood attorney Daniel Gallagher and current Republican SEC commissioners Hester Peirce and Mark Uyeda.

"The golden age of encryption! 250 friendly factions enter the Congress, is he the next Secretary of the Treasury of the United States?" This article was first published in "encryption city"