In a conversation with CNBC, Jeremy Allaire, the CEO of Circle, pointed out that cryptocurrencies have become a 'purple' issue, something both political parties are concerned about. However, he believes that further action is needed to strengthen the position of cryptocurrencies, or else America might lose its leadership in this field. Allaire mentioned that President Trump himself may lack a deep understanding of the cryptocurrency sector, but his circle of people and advisors have a better insight into it. Notably, despite speculation in the market suggesting that Trump might support radical policies such as including Bitcoin in the United States' national reserve currency system, Allaire expressed doubt about this possibility.