This Is What the Crypto Industry Actually Wants From Trump

Tracy Alloway (0:00)

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Austin Campbell (0:42)

Bloomberg Audio Studios. Podcasts, radio, news.

Joe Weisenthal (0:57)

Hello, and welcome to another episode of the Odd Lots Podcast. I'm Joe Weisenthal.

Tracy Alloway (1:03)

And I'm Tracy Alloway.

Joe Weisenthal (1:04)

Tracy, here's two things that I know, or I think that I know. One is that a lot of people in the crypto industry are excited about the new Trump administration and perhaps regulatory changes that may come about. And it also seems like a lot of people affiliated with the Trump administration have an affinity for the crypto industry.

But beyond that, I don't know what any of that means. It's one thing for different groups of people to like each other, have some affinity. But what it means in terms of substantive changes in the world, or at least in regulation, I don't have a clear idea.

Tracy Alloway (1:40)

Yeah, there's definitely been a vibe shift.

Joe Weisenthal (1:41)

Yeah, the vibes, yeah.

Tracy Alloway (1:43)

But in terms of what that means concretely in the real world, I am also unclear. I will say I'm looking at a chart of Bitcoin right now. And I mean, you can see, like beginning of November, it just shoots up. And obviously there have been some things that are sort of happening already. So for instance, you know, Gary Gensler is out at the SEC, and he's going to be replaced by Paul Atkins, who is a, I think he's generally considered a crypto proponent. So that's one thing crypto kind of hated Gensler. So there's that expectation. But beyond that, there's talk of like a strategic Bitcoin reserve and all these other things. And I guess, I guess the difficulty is crypto is never a unified body.

Everyone wants different things, and there's all this infighting. And so I'm just curious, like, what is it that the different factions are basically after at the moment?

Joe Weisenthal (2:36)

Yeah, there's a really great way to put it. And it's clear, even as you described, there is a range of ideas that are sort of some seem more perhaps realistic or in the short term, some strike me as sort of fantastical, but I would never count out anything. If we one day have a strategic Bitcoin reserve in the US, like, I don't know, it's 2025 Anything could happen.

Tracy Alloway (2:58)

Anything is possible.

Joe Weisenthal (2:59)

But there is like a range, right? There's a range of what's pursued. Maybe is it more regulatory clarity on certain sort of like token projects? Is it a way so that some sort of stable coin regulation can be resolved in some way that expands their ability to be a source of payments? Many big questions, many interesting possibilities. So as you know, at the new administration, I think we should get a better sense of what people in the industry are actually substantively looking for.

Tracy Alloway (3:27)

Absolutely. Let's do it.

Joe Weisenthal (3:28)

Well, I'm really excited to say we have, I believe, the perfect guest, someone we've had on the podcast before. And I said at the time we were talking about stable coins specifically at that time. But I think I said at the time, this guest should really be the crypto industry only.

Tracy Alloway (3:43)

You said the crypto industry should shove everyone else in a broom clause.

Joe Weisenthal (3:46)

Yeah, that's right. And just have this guest be their spokesperson, at least when talking to the mainstream media like us. Maybe like on crypto podcasts, they could have other people. But when they sort of dress someone up for the mainstream media and want to be presentable, I really think this is the only guest that they should have. Very excited. We're going to be speaking with Austin Campbell. He is an adjunct professor at the NYU Stern School of Business. And he is also the CEO of Wspn Usa, where he does stable coin stuff. So, Austin, thank you so much for coming back on the show.

Austin Campbell (4:18)

Yeah, well, I'm glad I'm not stuck in the broom closet.