Crypto Companies Vie for Influence in Trump's Advisory Council

Leading crypto companies like Ripple, Kraken, and Circle are eager to join President-elect Trump's proposed crypto advisory council. This move follows Trump's promise at a Bitcoin conference to establish a crypto-friendly administration. The council is expected to play a pivotal role in shaping U.S. digital asset policies.

In an unprecedented move, leading crypto companies such as Ripple, Kraken, and Circle are actively seeking involvement in President-elect Donald Trump's promised crypto advisory council. This initiative comes in the wake of his declaration at a Bitcoin conference about forming a crypto-friendly administration.

The transition team is currently deliberating over the council's structure and potential members, with notable crypto firms like Paradigm and Andreessen Horowitz's crypto arm a16z vying for a position. David Bailey, CEO of Bitcoin Magazine, has hinted at the inclusion of top executives from America's bitcoin and crypto firms.

The council aims to influence digital asset policies, advise on legislative matters, and even establish a Bitcoin reserve. Despite some consumer group concerns, many believe the council should include industry experts for informed decision-making.

(With inputs from agencies.)