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Reading: Donald Trump Appoints Bitcoin Supporter Howard Lutnick to Lead Transition Team
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Donald Trump Appoints Bitcoin Supporter Howard Lutnick to Lead Transition Team

Last updated: August 16, 2024 5:47 pm
Published: August 16, 2024
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Donald Trump Appoints Bitcoin Supporter Howard Lutnick to Lead Transition Team
Donald Trump Appoints Bitcoin Supporter Howard Lutnick to Lead Transition Team


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Donald Trump’s presidential campaign announced its “transition team” on Friday, showing confidence that the Republican believes he will win the November election. The law also requires this step. Former Trump administration official Linda McMahon and businessman Howard Lutnick are leading the “group that will prepare for his second term,” according to the Trump campaign.

Federal law requires major presidential candidates to name transition teams before the election to give them as much time as possible to prepare for the presidency. These teams are also meant to make the transfer of power smoother, though this was difficult after the 2020 election due to Trump’s protests and the Jan. 6, 2021, Capitol attack. Vice President Kamala Harris, who will be the Democratic nominee, will also appoint a transition team next week.

I am a fan of #Bitcoin. Cantor Fitzgerald is a fan of Bitcoin, and our investment bank is a rockstar in the digital asset space. We are just getting started.

Watch my full speech at @TheBitcoinConf Nashville 2024. pic.twitter.com/UZUZq0zAs9

— Howard Lutnick (@howardlutnick) July 31, 2024

Trump’s official transition team will be led by McMahon, who previously led the Small Business Administration, and Lutnick, CEO of Cantor Fitzgerald. Both are major donors to Trump’s 2024 campaign. The team also includes honorary co-chairs: Vice presidential nominee JD Vance and Trump’s two sons, Donald Trump Jr. and Eric Trump.

SEE ALSO: Crypto Now Accepted for Salaries: Landmark Ruling in Dubai Courts

Transition Team Set to Implement Key Policies

In a written statement, Trump said, “I have complete confidence that the Trump-Vance Administration will be ready to govern effectively from Day One.”

He mentioned that his transition team will focus on implementing an agenda that includes tax cuts, mass deportations of migrants, expanding the U.S. energy industry, and making non-political government employees more accountable to the White House. Trump also discussed using the Justice Department to target political opponents.

Harris and her aides said that Trump wants to create an authoritarian-style government, as suggested by the planners of “Project 2025.” They also claimed that a second Trump administration would aim to end abortion rights and cut back on health care.

After Trump’s news conference on Thursday, Harris campaign spokesperson James Singer said, “The American people cannot trust anything Donald Trump says.”

SEE ALSO: Why Is Bitcoin’s Price Dropping Today?


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ByMadhan Vennapusa
Madhan is an expert Crypto News Writer. With over 1 year of Experience.
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