Republican presidential candidate Donald Trump has picked crypto-friendly Sen. J.D. Vance to be his vice president.

Trump announced his selection in a post on Truth Social which was widely circulated on social media on Monday.

"After lengthy deliberation and thought, and considering the tremendous talents of many others, I have decided that the person best suited to assume the position of Vice President of the United States is Senator J.D. Vance of the Great State of Ohio," Trump posted.

The Ohio Republican has been favorable to the crypto industry and has been critical of the U.S. Securities and Exchange Commission. This past year, Vance, along with other Republican lawmakers, sent a letter to SEC Chair Gary Gensler to air out concerns about inaccurate statements the agency made in …