Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Larry Fink vs. Jamie Dimon: Donald Trump’s Pick for US Treasury Secretary

Source Beincrypto

If Donald Trump wins the US Presidential elections, he will revamp key leadership positions. There are speculations that he might nominate Larry Fink, CEO of BlackRock, or Jamie Dimon, CEO of JPMorgan, as the US Treasury Secretary.

This move indicates the critical roles both figures could play in shaping America’s crypto policies.

Larry Fink and Jamie Dimon Have Contrasting Viewpoints on Bitcoin

Donald Trump’s admiration for Larry Fink is notable, despite Fink’s Democratic leanings. Fink, who has managed parts of Trump’s portfolio through BlackRock’s global fixed income strategy, has often been mentioned in discussions about potential Treasury Secretary appointments.

“Larry did a great job for me. He managed a lot of my money. I have to tell you, he got me great returns,” Trump said in 2017.

Read more: Who Owns the Most Bitcoin in 2024?

During a CNBC interview this month, Fink maintained an optimistic stance on Bitcoin, referring to it as “digital gold.” He emphasized its importance in diversifying investment portfolios, particularly in volatile economies.

“I’m a major believer that there is a role for Bitcoin in portfolios. I believe you’re going to see that as one of the asset classes that we all look at. I look at it as digital gold, as I said before,” he stated.

In an interview with BeInCrypto, Mehdi Lebbar, the founder of Exponential Fi, shared that Fink might be an exceptional candidate for the role of the US Treasury Secretary.

“Larry Fink has a profound understanding of crypto values. He recognizes the two revolutions brought about by Bitcoin and Ethereum: a new digital store of value and a novel financial system that operates without a trusted intermediary. His deep knowledge and stature make him an exceptional candidate to guide the Treasury through these transformative disruptions,” Lebbar told BeInCrypto.

Conversely, Jamie Dimon presents a starkly different perspective, especially regarding crypto. Known for his critical views on Bitcoin, which he labels as a “fraud” and “Ponzi scheme,” Dimon’s stance has spurred heated debates. However, he recognizes the potential of blockchain technology, as evidenced by JPMorgan’s blockchain initiatives like the JPM Coin.

Moreover, Trump’s recent comments suggest Dimon’s softened stance on Bitcoin, potentially enhancing his candidacy for the Treasury role.

“Jamie Dimon was, you know, very negative and now all of a sudden he’s changed his tune a little bit,” Donald Trump said.

Both Fink and Dimon bring strong track records in financial management. Fink’s leadership has grown BlackRock into the world’s largest asset manager, with over $10 trillion under management.

Moreover, BlackRock’s iShares Bitcoin Trust is the largest spot Bitcoin exchange-traded fund (ETF), with over $20 billion in assets under management.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

BlackRock Bitcoin ETF Net Assets. Source: SoSoValue

Meanwhile, under Dimon’s leadership, JPMorgan has excelled in traditional banking and pioneered several blockchain-based projects. Yet, Charles Gasparino, the New York Post journalist believes that Trump will eventually appoint Dimon as the US Treasury Secretary.

“My guess is Trump thinks Dimon looks the part better than Fink so he’s willing to ignore their past differences, which were significant,” Gasparino wrote.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Dollar holds above 100 near a 3-month high — three Fed speakers and a $69 billion auction land tonight The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

Author Suzie

Sep 22, Tue

The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anyway Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Author Irene Q.

Sep 23, Wed

Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Gold Price Forecast: XAU/USD drifts toward $4.300 with bears gaining traction Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.

Author FXStreet

Sep 23, Wed

Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.

US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth story US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Author Suzie

Yesterday 06: 46

US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Popular Symbols