Summary:
Trump vows to make America the 'world capital of Bitcoin' and reduce regulations.
Musk to lead a government efficiency task force if Trump is re-elected.
10 regulations will be eliminated for every new one introduced under Trump's administration.
Trump's lead over Harris increases to 53% on Polymarket, reflecting growing investor confidence.
Former President Donald Trump has once again expressed his support for Bitcoin and the broader crypto landscape during a recent speech at the Economic Club of New York on September 5. In his address, he outlined a vision for a national economic renaissance, emphasizing that his economic policies would foster emerging technologies through clear regulations instead of stifling them.
“We will make America the world capital of crypto and Bitcoin,” Trump declared, highlighting his commitment to reducing bureaucratic constraints.
Trump proposed a radical approach to regulation, suggesting that his administration would eliminate 10 regulations for every new one introduced, aiming to alleviate federal oversight and stimulate industry growth in the U.S. While he did not specify the regulations for crypto, he has previously promised that the U.S. would not sell its approximately 200,000 Bitcoin holdings and vowed to dismiss SEC chair Gary Gensler on his first day back in office.
Musk to Lead Efficiency Task Force
In an unexpected twist, Trump announced plans to create a government efficiency commission headed by Elon Musk if he wins re-election in November. This commission would perform a thorough audit of federal operations, targeting waste and proposing drastic reforms to eliminate inefficiencies. Musk has expressed a willingness to take on this role, stating,
“I look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.”
However, this proposal has faced backlash, with union leaders accusing Trump of attempting to undermine nonpartisan federal employees.
Trump Regains Polymarket Lead
In the political arena, Trump has regained his lead over Vice President Kamala Harris on the crypto prediction platform Polymarket, commanding 53% of the market share compared to Harris’ 46%. This shift reflects a growing confidence among investors regarding Trump’s capability to manage key issues like the economy and immigration.
Recent public appearances, including rallies and interviews, have bolstered his standing, with 53% of Polymarket participants believing he would handle the economy better than Harris, and 56% favoring him on immigration issues.
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