Biden Administration Will ‘Ultimately Be Supportive’ of Crypto: Circle CEO
Oon CNBC’s ‘Squawk Box’ on Monday, Allaire spoke about the regulatory attitudes toward stablecoins and how the incoming administration may treat crypto.
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Circle CEO Jeremy Allaire believes the incoming Joe Biden presidential administration in the U.S. will “ultimately be supportive of cryptocurrency because it represents a seismic shift as large as the commercial internet."
In a Monday interview on CNBC’s Squawk Box, Allaire spoke about how he thinks the incoming administration may regulate the emerging cryptocurrency and digital assets sector, and what may be in store for stablecoins. Circle is a payments services company that operates the USDC stablecoin as part of the Centre consortium.
The Biden administration is "going to be focused on infrastructure changes that make America more competitive, and this is absolutely going to be a core building block in that,” said Allaire during the interview.
Allaire said misunderstandings about cryptocurrency exist at both ends of the U.S. political spectrum but there are also moderates who are looking at the developing sector “constructively.”
Speaking about stablecoins and whether a central bank issued digital currency (CBDC) could crowd out private stablecoins like the USDC stablecoin, Allaire said that while central banks have been researching CBDCs, private fintech platforms have taken the lead in implementing existing stablecoins as a way to move money.
Read more: Visa May Support USDC Credit Card After Adding Circle to ‘Fast Track’ Program
According to Allaire, in the coming two to four years it will be key to see if the relevant standards developed by the private sector converge with the safeguards central banks care about and the kind of supervisory role that makes sense.
Earlier last week, a bill was introduced in the U.S. Congress that would require stablecoin issuers to secure bank charters and regulatory approval before circulating any stablecoins. Allaire did not comment directly on the bill during the interview.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
需要了解的:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Bitcoin stuck near $88,000 as gold's and silver's record-breaking rallies show exhaustion signs
"Gold and silver casually adding an entire bitcoin market cap in a single day," wrote one crypto analyst.
What to know:
- Bitcoin is off its worst levels of the weekend, but still near the year's low at $87,700.
- Facing the same news cycle as crypto, precious metals continued to surge higher, but a quick retreat from their highs on Monday suggested a bit of exhaustion was setting in.
- Analysts remain dour on the outlook for crypto prices given the looming government shutdown as well as delays in passage of the Clarity Act.
