Executives from prominent cryptocurrency companies are vying for positions on Donald Trump’s proposed “Crypto Council,” which aims to shape the future of digital assets in the United States. A Reuters report highlighted that firms like Ripple, Kraken, and Circle are among those seeking influence in this advisory body, which will establish the country’s Bitcoin reserve.
Sources suggest Trump’s team is working to finalize the council’s structure and member selection. Companies like Paradigm and a16z are also rumored to be contenders. While representatives from Kraken and a16z did not address these claims, Coinbase CEO Brian Armstrong has already met privately with Trump, fueling speculation about his potential role in the council. Cardano founder Charles Hoskinson, another industry figure, has endorsed Armstrong as the ideal “Crypto Czar,” a position reportedly under consideration by Trump’s transition team.
The council could function under the National Economic Council or as a standalone body within the White House. Its responsibilities may include advising on cryptocurrency policies, collaborating with Congress on regulations, and working with agencies like the SEC, CFTC, and Treasury. It may also establish a Bitcoin reserve for the country, marking a significant shift in federal digital asset strategy.
Circle CEO Jeremy Allaire has expressed interest in joining the council, underscoring the high stakes for crypto firms seeking to influence U.S. policy. Speculation also suggests the council may include enforcement officials and former policymakers, ensuring diverse perspectives on digital asset governance.