{"id":144661,"date":"2024-12-13T11:00:44","date_gmt":"2024-12-13T09:00:44","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144661"},"modified":"2024-12-12T18:10:24","modified_gmt":"2024-12-12T16:10:24","slug":"u-s-banks-hold-back-on-crypto-despite-trumps-pro-asset-stance","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/u-s-banks-hold-back-on-crypto-despite-trumps-pro-asset-stance\/","title":{"rendered":"U.S. Banks Hold Back on Crypto Despite Trump\u2019s Pro-Asset Stance"},"content":{"rendered":"<p>While Trump&#8217;s pro-crypto stance has ignited hope for clearer regulations and a more favorable environment, financial institutions are holding back, waiting for more certainty before committing fully to the space.<\/p>\n<p>Trump&#8217;s election has already had a significant impact on the crypto market, with Bitcoin&#8217;s price soaring to $103,900 on December 5 and <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a> <\/strong>ETFs seeing around $10 billion in inflows. However, major financial institutions like Goldman Sachs remain hesitant.<\/p>\n<p>CEO David Solomon <strong><a href=\"https:\/\/www.reuters.com\/technology\/us-bankers-cautious-crypto-despite-expected-regulatory-easing-2024-12-11\/\">emphasized<\/a> <\/strong>that for the bank to venture into digital assets, the regulatory framework must evolve. Goldman Sachs has expressed a willingness to evaluate the potential of Bitcoin and Ethereum, but only once the rules governing crypto are clearer. BNY Mellon has taken a small step by offering crypto custody services for ETFs, but CEO Robin Vince cautioned that any new initiatives must be tested through macroeconomic cycles before scaling up.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/trump-pledges-crypto-leadership-for-the-u-s-amid-bitcoins-100k-surge\/\" title=\"Trump Pledges Crypto Leadership for the U.S. Amid Bitcoin&#8217;s $100K Surge\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/AP_19201004713022-1000x667-1-e1681988759576-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Trump Pledges Crypto Leadership for the U.S. Amid Bitcoin&#8217;s $100K Surge<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The appointment of David Sacks, a former PayPal executive, to the SEC has sparked further hope among crypto enthusiasts, signaling the potential for regulatory changes that could accelerate crypto adoption. However, key banking regulators still need to be appointed, and uncertainty remains about how quickly these shifts will occur. The crypto market has faced significant turbulence in recent years, including the collapse of crypto-friendly banks like Silvergate and Signature in 2023. Despite these setbacks, the federal government intervened to protect depositors, showcasing its willingness to step in during times of crisis.<\/p>\n<p>Recent efforts to recover funds from FTX, including the recovery of $14.5 million in political donations tied to Sam Bankman-Fried&#8217;s leadership, highlight ongoing efforts for accountability within the industry. These funds are expected to be used to compensate FTX creditors, with total asset recoveries from FTX surpassing $16.5 billion. Despite the challenges, there is still a sense of optimism that the market could see positive regulatory changes under Trump\u2019s administration, paving the way for greater institutional involvement in crypto.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite growing optimism for the crypto market under President-elect Donald Trump, U.S. banks are taking a cautious approach toward embracing digital assets.<\/p>\n","protected":false},"author":9,"featured_media":75707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-144661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. Banks Hold Back on Crypto 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