Trump Appoints Bitcoin Proponent As New FBI Chief
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United States President Donald Trump’s latest appointment, a close ally, has officially been confirmed as the new FBI Director. The confirmation of Kash Patel comes with significant controversy, not just for his past criticisms of the agency but also for his personal investments in Bitcoin and cryptocurrency-related stocks. FBI Director And His Love For Crypto Based on financial disclosures, Patel owns around $115,000 worth of Bitcoin via a US spot exchange-traded fund (ETF). He has also made roughly $250,000 investments in Core Scientific, a major crypto mining company. This makes Patel one of the most openly pro-crypto officials to hold such a high-ranking law enforcement position. His financial portfolio elicits different opinions. Critics express concerns regarding potential conflicts of interest, whilst cryptocurrency enthusiasts view his appointment as indicative of a more favorable legal landscape for digital assets. Considering the director’s vested interest in the market, how will the FBI approach investigations pertaining to cryptocurrency? Trump loyalist Kash Patel is confirmed as FBI director by Senate despite deep Democratic doubts🚨 Read more👇https://t.co/svv7TpCegb#DonaldTrump #KashPatel #FBI #USA — Moneycontrol (@moneycontrolcom) February 21, 2025 A Narrow Senate Confirmation Patel’s appointment hasn’t been an easy ride. The Senate vote exhibited significant political tensions, resulting in a narrow 51-49 vote. Critics have voiced concerns regarding Patel’s close association with Trump and his history of challenging the FBI’s leadership. His confirmation signals a shift in direction for the agency, one that could bring heightened scrutiny to its past actions under previous administrations. Bitcoin market cap currently at $1.97 trillion. Chart: TradingView.com Democrats expressed worries that Patel may target Trump’s opponents and defend his supporters using his position. Republicans countered that the FBI needed a capable leader to restructure a politically weaponized organization. Now under Patel’s direction, the issue of whether his leadership will increase the FBI’s legitimacy or…
Filed under: News - @ February 22, 2025 12:14 pm