Trump reiterates support for BTC and will choose Musk to lead government reform

On September 5, former US President Trump reiterated his support for BTC and the broader Crypto asset industry in a speech at the Economic Club of New York.

In the speech, Trump outlined a broader vision of a "national economic renaissance" and said his economic policies would promote the development of emerging technologies and industries through clear regulations, rather than stifling them.

He added: "We will make the United States the Crypto asset and BTC capital of the world."

Trump said that for every new regulation his administration enacts, 10 regulations will be eliminated to reduce redundant federal regulation and promote the development of industries within the United States.

Trump did not elaborate on the types of rules his administration would enact for Crypto assets in his speech, but has previously vowed to ensure that the United States will never sell the approximately 200,000 BTC it holds.

He also promised to fire SEC Chairman Gary Gensler on his first day in office.

Trump also revealed that if he wins re-election in November, he plans to set up a government commission led by Musk, the founder of Tesla and SpaceX.

The commission will conduct a comprehensive financial and performance audit of the federal government, identify areas of waste, and recommend "drastic reforms" to reduce inefficiencies.

At the same time, Trump promised that the panel led by Musk would eliminate fraud and improper payments within six months of its establishment.

Trump's promise to streamline government operations adds new content to his 2024 campaign platform, which focuses on tax cuts, deregulation of energy production and reduced government spending.

Musk confirmed on social media that he would accept the position if Trump was re-elected, saying: "If the opportunity arises, I look forward to serving the United States. No compensation, title or recognition is required."

However, the proposal has drawn criticism, with union leaders accusing Trump of trying to undermine nonpartisan federal workers.

On Crypto asset prediction platform Polymarket, Trump has regained the lead over Vice President Kamala Harris, commanding 53% of the market, compared to Harris’ 46%.

The shift marks a key momentum change as investors and political observers recalibrate their expectations for Trump, who briefly fell behind Harris in previous weeks.

However, Trump’s recent rebound can be attributed to the market’s growing confidence in his handling of major issues such as the economy and immigration.

Polymarket participants overwhelmingly support Trump on the economy, with 53% believing he would better manage the economy, compared to Harris’ 44%.

On immigration, Trump’s lead is even greater, with 56% of the market’s support, ahead of Harris’ 42%.

After several weeks of public appearances by the former president, people's opinions have changed. Trump's frequent activities are not limited to rallies, interviews, speeches, and even appearances on alternative media platforms. For example, he participated in a blog with Lex Fridman and interviewed the streamer Adin Ross.