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Trump Names Crypto-Friendly Stephen Miran as Chair of Council of Economic Advisers
The Council of Economic Advisors is tasked with providing the President advice on economic issues.
Dec 23, 2024, 5:32 a.m.
What to know:
- The incoming Trump administration continues to appoint crypto advocates to key roles.
- The latest appointment is Stephan Miran, a bitcoin advocate who served in the first Trump administration.
President-elect Donald Trump announced over the weekend that he is appointing Stephan Miran, a former Treasury official from the first Trump White House, and current economist with Hudson Bay Capital Management, to chair the Council of Economic Advisors (CEA).
The CEA's role is to advise the president on economic issues, including evaluating the effectiveness of federal policies and programs, analyzing economic trends, and crafting recommendations to foster growth and stability.
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Miran has long been an advocate for crypto, recently appearing on Blockworks' Forward Guidance podcast. He has previously tweeted about how crypto regulations need to be reformed in the U.S. to allow for innovation to flourish.
Miran has previously criticized Fed Chair Jerome H. Powell as "wrong politically and economically" for urging Congress to pass a stimulus bill in October 2020.
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I never cease to marvel at what fraction of "innovation" in recent decades is simply due to circumventing regulations. Uber, crypto, Airbnb...
— Stephen Miran (@SteveMiran) November 21, 2023
And while binance did some evil shit (helping finance Iran, Hamas), maybe we should actually streamline a lot of regulations https://t.co/1pR3cqqBUy
This appointment comes as Trump himself has pledged to make the U.S. the “crypto capital of the planet” and earlier floated the idea of a strategic bitcoin reserve.
Recently, Trump announced he was appointing crypto advocate Paul Atkins as Securities and Exchange Commission chair. Atkins had previously served as a Commissioner at the SEC during the George W. Bush administration.
Trump also appointed former congressional candidate Bo Hines as Executive Director of the Presidential Council of Advisers for Digital Assets.
In a post on Truth Social, Trump said Hines would collaborate with David Sacks, the incoming "Crypto Czar," to advance the administration's crypto agenda.
While Trump endorsed Hines in his Congressional run, Hines does not have a history of crypto advocacy.
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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