Ripple, Coinbase, and crypto giants race for Trump’s council.

• Major crypto firms like Ripple, Coinbase, and Kraken are vying for positions on Trump’s new crypto advisory council.
• The council will focus on digital asset legislation, regulatory coordination, and Trump’s proposed national Bitcoin reserve.
• Critics warn about potential conflicts of interest while industry leaders push for clearer regulations.

As President-elect Donald Trump prepares for office, many top crypto companies are jockeying for positions on his much-anticipated cryptocurrency advisory council. First announced at a July Bitcoin conference in Nashville, the council aims to shape the future of U.S. crypto policy.

Industry insiders say discussions are already underway about how the council will be structured, who will lead it, and which firms will be included.

Council for Crypto Policy

Among the firms seeking a seat at the table are major players like Ripple, Kraken, and Circle, along with venture capital firms such as Paradigm and Andreessen Horowitz (a16z). Coinbase is also reportedly eager to participate, with CEO Brian Armstrong recently meeting with Trump to discuss the council, according to sources familiar with the situation.

David Bailey, CEO of Bitcoin Magazine, expects the council to feature top executives from the U.S. crypto industry. “People are eager to advise and contribute their expertise,” Bailey said. Circle CEO Jeremy Allaire has also expressed interest, highlighting Circle’s expertise in stablecoins and blockchain as critical to crafting effective policies.

Goals and Structure

The crypto advisory council will likely be housed within the White House’s National Economic Council (NEC), which oversees economic policy, or potentially under a separate White House office.

Its agenda includes shaping legislation for digital assets, aligning regulatory oversight between the SEC and CFTC, and advancing Trump’s proposal for a national Bitcoin reserve. Some sources have suggested the council may appoint a “crypto tzar” to lead the initiative, with potential candidates being former CFTC Chair Heath Tarbert and Brian Quintenz of Andreessen Horowitz.

The formation of the advisory council has generated excitement within the cryptocurrency industry. Many hope the Trump administration will foster a more favorable regulatory environment.

However, not everyone is supportive of the crypto industry’s growing influence. Consumer advocacy groups have expressed concerns about potential conflicts of interest, warning that allowing crypto companies to help shape policy could result in a regulatory environment skewed in their favor. 

Despite these concerns, many argue that industry experts with deep knowledge of blockchain and cryptocurrency are essential to ensuring regulations are well-informed, effective, and future-oriented.