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Former President Donald Trump is on his way back to the White House after securing a victory in the 2024 presidential election on Tuesday, triggering a broad market rally. While various sectors are reacting positively to the news, the cryptocurrency market is set for significant gains under his administration. Bitcoin (BTC-USD), in particular, has climbed to new record highs above $75,000 in response to the election outcome.

Coinbase Global (COIN) chief policy officer Faryar Shirzad joins Market Domination to analyze the potential implications for cryptocurrency as traders grow confident that Trump will fulfill his campaign promises.

"We're completely thrilled that we got a new president who campaigned on crypto and keeping the US a leader in the technology," Shirzad states.

He points to a key priority for the industry moving forward: establishing clear regulatory frameworks. Shirzad acknowledges the current regulatory gaps, noting that "the US has fallen behind, and hopefully, we'll catch up real soon."

To watch more expert insights and analysis on the latest market action, check out more Market Domination here.

This post was written by Angel Smith