Standard Chartered predicts that the second term of the Trump administration will create favorable regulatory environments that will lead to a positive outlook for the cryptocurrency industry. Trump initially opposed cryptocurrencies and bitcoin during his presidency. However, since leaving office, he has launched multiple NFTs. Last month, he described bitcoin as "another form of money", noting that cryptocurrencies have taken on a life of their own. Additionally, he acknowledged the popularity of bitcoin.
Geoff Kendrick, Head of FX Research and Digital Asset Research at Standard Chartered, has concerns about the sustainability of U.S. government debt and deficits. This could lead to a steeper U.S. Treasury yield curve, along with an increase in break-even and term premiums. We believe this scenario will broadly support digital assets as investors seek alternative assets.
Standards Chartered: Trump's Second Term Will Offer a Positive Outlook for the Crypto Industry
2024-05-09 00:05:28
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