The American Secretary of the Treasury supports a large financial merger
According to Odaily, American Secretary of the Treasury Scott Bessent announced efforts to facilitate a significant merger between Main Street and Wall Street. Amid a 6% drop in Bitcoin prices in 2025, the Trump administration introduced the 'Beautiful Act', which provides newborns with a 'Trump account' of $1,000 to promote investment awareness among the public. Meanwhile, financial giants on Wall Street, such as BlackRock, have amassed nearly $70 billion in Bitcoin ETFs, indicating a rapid integration of cryptocurrencies into mainstream financing.
Bessent predicts that the tax cut will lead to a 'big year of tax refunds' in the first quarter of 2026. Additionally, the Trump administration plans to introduce a market structure bill in early 2026 to further regulate the stablecoin market.
