Cryptocurrencies surged after Donald Trump won the U.S. presidential election, as crypto investors hope for a more friendly regulatory regime under a Republican president. Flagship cryptocurrency Bitcoin briefly surpassed $75,000; other tokens like Ether and Dogecoin saw significant gains.
Trump’s election creates “a real opportunity for a crypto golden age,” said Charles Cascarilla, CEO and co-founder of Paxos, a New York-based blockchain platform, on Friday at the Singapore Fintech Festival. “The Trump campaign had a real crypto theme around it, and there’s a sense all this pent-up demand could be unleashed by the U.S. and turn the U.S. into a leader from kind of a laggard,” he explained.
