The Block Crypto News8 minutes ago

Published on July 29, 2024 13:33 GMT+00:00edited on July 29, 2024 13:34 GMT+00:00

As the crypto industry becomes increasingly prominent in the run-up to November’s U.S. presidential elections, analysts at research and brokerage firm Bernstein looked at how the candidates’ positions may influence the market.

Former President Donald Trump spoke at the Bitcoin 2024 conference in Nashville over the weekend, making six major promises to the crypto industry if elected, Bernstein's Gautam Chhugani, Mahika Sapra and Sanskar Chindalia noted in a memo to clients on Monday:

1. The U.S. will lead the world in Bitcoin and crypto.
2. The U.S. will become a "Bitcoin mining superpower," promising increased electricity generation capacity for the industry.
3. Securities and Exchange Commission Chair Gary Gensler, often critical of the industry, will be fired on day one and replaced …