The Trump administration is considering 11 candidates to replace Federal Reserve Chair Jerome Powell, with at least 3 showing positive views on crypto. Former St. Louis Fed President James Bullard and BlackRock’s Rick Rieder are among the candidates. Lower interest rates often lead to increased investment in volatile assets like crypto.

BlackRock’s Rick Rieder has expressed support for crypto, stating Bitcoin is “here to stay.” He believes it will become a significant part of asset allocation in the future. BlackRock currently holds the largest Bitcoin and Ether exchange-traded funds on the market.

Fed officials Waller and Bowman, also potential candidates for Chair, have shown a positive stance towards crypto. Bowman suggested Fed staff should invest in crypto to understand the technology better. Waller believes banks should not fear crypto payments as it is just a new technology for transactions, not a threat.

Investment bank Jefferies, where candidate Zervos works, has been involved with various crypto entities like eToro and Circle Internet Group. Jefferies has shown interest in crypto for at least five years. Powell’s term as Chair ends in May, with his speech raising expectations of an interest rate cut in September.

Read more at Cointelegraph: Trump’s Fed Chair Shortlist Includes Some Tied To Crypto