Cryptocurrency exchange Bitget has reported a 683% increase in its Gen Z users since Donald Trump’s election victory. At the same time, crypto startups have raised more than $1 billion in venture funding, underscoring growing optimism about the industry’s future under the new administration.
Key takeaways:
- Record User Growth: Bitget’s new Gen Z users grew 683% in November to 844,000.
- Investment Boom: Crypto startups have raised $1.3 billion since the election, including $796 million in November and $511 million in December.
- Political Momentum: Pro-Trump promises of a national Bitcoin reserve and clear regulations are boosting confidence in the market.
Trump’s impact on the Crypto market
The crypto market has responded positively to Trump’s victory, with Bitcoin reaching a yearly high of $90,000 in November. Altcoins such as Avalanche (AVAX) and Monero (XMR) have also seen significant gains. The Avalanche Foundation raised $250 million through a private token sale to support a major network upgrade, Avalanche9000, aimed at improving scalability and reducing transaction costs.
Youth as a driver of growth
Generation Z, which demonstrates high-tech literacy and a desire for financial independence, has become one of the key groups of crypto users. According to Bitget, almost half of the platform’s users are now aged 18-30.
This audience has actively responded to Trump’s promises to make the United States the “crypto capital of the world” and simplify access to digital assets. Pro-Trump appointments such as Paul Atkins as SEC Chairman and David Sacks as the White House’s first crypto coordinator have bolstered confidence in a friendly regulatory environment.
Record Venture capital funding
Since the election, startups have raised nearly $1.3 billion in funding, highlighting VC interest in the sector. Some of the largest deals include:
- $250 million for Avalanche Foundation
- $40 million for infrastructure project Zero Gravity Labs
- $45 million for DeFi startup USDX Money
Global implications for the Crypto industry
These developments mark a new era for the crypto industry. Pro-Trump initiatives aimed at removing barriers for institutional investors are creating a platform for further growth. Venture capital, fueled by positive market sentiment, is helping to drive innovation and new users.
Thus, political changes in the US, coupled with a demographic shift among users, are setting the stage for a new phase of development in the cryptocurrency industry, with young people and venture capitalists playing a leading role.
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