Crypto.com CEO Kris Marszalek has met with newly elected US President Donald Trump to discuss the future of the sector ahead of the new administration’s ascension to the White House.
According to a new Bloomberg report, Marszalek and Trump recently met at Mar-a-Lago to discuss, among other things, the possibility of a national Bitcoin (BTC) reserve.
The exchange’s native token Cronos (CRO) shot up more than 25% on news of its CEO’s meeting with Trump.
Says a Crypto.com representative from the meeting:
“We look forward to working with the new administration to develop and advance clear regulations for the crypto industry so that the US can become a global leader in digital assets and innovation.”
The crypto industry, including some of the largest exchanges in the space, has reacted positively to Trump’s victory, which is largely seen as a boon for the booming cryptosphere.
A Coinbase spokesperson told Bloomberg:
“We are pleased with the extent to which the new incoming administration team has had an open door with Coinbase and the crypto community.”
A spokesperson for Crypto.com echoed these sentiments, saying that the company has already withdrawn its lawsuit against the U.S. Securities and Exchange Commission (SEC).
“We have withdrawn our action against the SEC given our intention to work with the new administration on a regulatory framework for the industry.”
CRO is trading at $0.193 at the time of writing, up 12% on the day.
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Featured image: Shutterstock/Rakhimov Edgar