The Trump team is considering establishing a new position in the White House focused on cryptocurrency policy, marking the first such attempt by the administration. Trump expressed support for cryptocurrencies during his campaign and proposed firing SEC Chairman Gary Gensler, promising to commute the life sentence of Silk Road founder Ross Ulbricht, forming a Presidential Advisory Committee on Cryptocurrency, and creating a national strategic Bitcoin reserve. After the election, Trump nominated several pro-crypto executives for key positions, including appointing Cantor Fitzgerald CEO Howard Lutnick to lead the U.S. Department of Commerce, and Bitcoin supporter Robert F. Kennedy as the Secretary of the U.S. Department of Health and Human Services. Recent interactions between cryptocurrency industry executives and the Trump team have also taken place. Ripple CEO Brad Garlinghouse stated that he has discussed personnel appointments with Trump's close associates, and executives from Circle have engaged in conversations with Trump’s transition team. Coinbase CEO Brian Armstrong spoke with Trump about cryptocurrency and who would lead the SEC and the Commodity Futures Trading Commission.