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U.S.-listed crypto stocks jump after Donald Trump’s pro-bitcoin speech

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Crypto,Bitcoin,Trump

Crypto exchange Coinbase’s shares climbed 3.7%, while miners Bitfarms, Riot Platforms and CleanSpark were up between 3.4% and 4.5%

Shares of New York-listed cryptocurrency firms gained before the open on Monday after Republican presidential candidate Donald Trump talked up bitcoin and promised friendlier regulation for the industry.

“The crypto market interprets a scenario of a Trump win as more positive for crypto, in view of the Biden administration’s strong regulatory crackdown on crypto and pro-bitcoin statements by Trump,” Bernstein analysts wrote in a note. But the Securities and Exchange Commission Chair Gary Gensler, the administration’s top cop for crypto enforcement, has defended his view of the industry, citing the wild volatility and speculative nature of tokens like bitcoin.

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