Wall Street shows renewed optimism for cryptocurrency under President Donald Trump’s pro-crypto agenda. Trump shifted from being a crypto skeptic in his first term to embracing the industry during his 2024 campaign, relying on its financial support to defeat Kamala Harris. President Trump issued an executive order emphasizing the protection and promotion of digital assets to support cryptocurrency use and development. Banks have been hesitant to adopt crypto largely due to regulatory constraints. Morgan Stanley CEO Ted Pick stated that the bank’s cryptocurrency involvement depends on regulatory clarity and plans to work with federal regulators to offer safe crypto services.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Wall Street is showing renewed optimism for cryptocurrency under President Donald Trump's
00:06pro-crypto agenda. Trump shifted from being a crypto skeptic in his first term to embracing
00:11the industry during his 2024 campaign, relying on its financial support to defeat Kamala Harris.
00:17President Trump issued an executive order emphasizing the protection and promotion
00:21of digital assets to support cryptocurrency use and development. Banks have been hesitant
00:26to adopt crypto largely due to regulatory constraints. Morgan Stanley CEO Ted Pick
00:31slated that the bank's cryptocurrency involvement depends on regulatory clarity
00:36and plans to work with federal regulators to offer safe crypto services.
00:40For all things money, visit Benzinga.com.