"The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun," Sacks said, speaking on Friday at the so-called crypto ball event, intended to drive support for Trump among the crypto community and demonstrate its value to the incoming administration.

President-elect Donald Trump is reportedly preparing to issue executive orders aimed at fostering a more favorable environment for cryptocurrency firms. These actions are anticipated to occur shortly after he assumes office,

The executive orders might address debanking and the repeal of a policy requiring banks to count their held digital assets as liabilities on their balance sheet.