O’Leary details why the US needs a crypto czar: ‘We have to stop these shenanigans’
‘Shark Tank’ investor Kevin O’Leary joins ‘Fox & Friends’ to discuss Elon Musk and Vivek Ramaswamy leading DOGE, Trump’s potential Treasury secretary pick, and the crypto czar the very first.
Investigating the debate over Trump’s potential nominee for crypto chief, prominent entrepreneur Kevin O’Leary called on any nominee to end his legal indecision.
“We have to stop these criminals because this is a technology that affects all 11 sectors of the economy,” O’Leary said on “Fox & Friends” Thursday.
“It provides efficiency and digital payment systems. And we have to be globally competitive.”
According to industry sources familiar with the negotiations, President-elect Donald Trump is putting together a position dedicated exclusively to cryptocurrency policy. It’s unclear whether the role will be a governor’s type or a White House staff role, but the official in charge of the position will work with regulators, including the Securities and Exchange Commission and the Commodity Futures Trading Commission.
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Two names that come to O’Leary’s mind are former CEO of Currency Brian Brooks and Coinbase CEO Brian Armstrong.
Kevin O’Leary has put pressure on Trump’s nominee for crypto czar to start making regulatory decisions as soon as possible. (Getty Images)
“Brian, from Coinbase, has been sued [SEC Chair] Gensler right now. His company is under the SEC,” noted the CEO of O’Leary Ventures.
“We need a czar here, and we need to start making decisions. Is ethereum a commodity, or a security? Pick one and go with it. I don’t care which one, but we have to do it. At least pick one,” he added. “We haven’t done that yet.”
‘Making Money’ host Charles Payne discusses the history of money.
The president-elect campaigned heavily among pro-crypto voters, stopping at crypto bar PubKey in New York City and speaking at the Bitcoin 2024 conference in Nashville a few weeks before Election Day.
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Manward Press chief investment strategist Shah Gilani discusses how much the S&P 500 could rise in 2025 in ‘Making Money.’
Bitcoin, the largest cryptocurrency by market value, touched an all-time high of $94,000 in afternoon trading on Wednesday and is up more than 156% from its 52-week low of $36,815.63 in November 2023, as tracked by Dow Jones Market Data Group.
iShares Bitcoin ETF Trust
The price increase boosted crypto exchanges, making assets of the largest, iShares Bitcoin Trust, more than $40 billion and rising to record highs.
Some bitcoin ETFs are also seeing high interest.
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| BTC | GRAYSCALE BITCOIN MINI TRT ETF BITCOIN MINI TRUST BTC ETF | 42.83 | +0.99 |
+2.37% |
| GBTC | GRAYSCALE BITCOIN TRUST ETF – USD ACC | 76.81 | +1.82 |
+2.43% |
| FBTC | FIdelITY WISE ORIGIN BITCOIN FUND – USD ACC | 84.48 | +1.94 |
+2.35% |
| ARKB | ARKB – ARK 21SHARES BITCOIN ETF – USD ACC | 96.47 | +2.17 |
+2.30% |
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FOX Business’ Suzanne O’Halloran contributed to this report.
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