u.today
U.S. President Donald Trump had some words of praise for former Bakkt CEO Kelly Loeffler who now represents Georgia in the Senate. During the signing of the USMCA trade deal, the POTUS gave a shout out to Loeffler along with her Republican colleagues.
President Trump gives a shout out to @SenatorLoeffler along with every other GOP senator in the crowd during USMCA signing. “Congratulations, Kelly. They really like you a lot. That’s what the word is.” pic.twitter.com/30rE2pn7ZI
— Tia Mitchell, AJC’s Washington Correspondent (@ajconwashington) January 29, 2020
The appointment of Loeffler was seen as a major win for the cryptocurrency industry in the US. Before becoming a sitting senator, she was at the helm of ICE-backed crypto trading platform Bakkt, which became one of the biggest stories of the year in crypto after finally launching its physically-settled Bitcoin (BTC) futures.
According to Fundstrat's Tom Lee, the "blowback" from the White House was the main reason why Bitcoin's rally faltered in the second half of 2019. Back in July, Trump tweeted that he wasn't a fan of Bitcoin and Libra. The latter also faced intense scrutiny US lawmakers during several congressional hearings.
Loeffler, who was considered to be one of the most influential people in crypto, has a great chance to turn things around. However, there is a chance that another Trump ally Doug Collins might unseat Loeffler this November. If Loeffler manages to defend her seat, she will remain a Georgian senator at least until 2022.