US banking rules guarantee deposits of up to $250,000
The Office of the Comptroller of the Currency monitors large banks across the country. AFP

KEY POINTS

  • Bitcoin was up 2% in the day, while Ethereum surged 5.2% and $BNB logged a 12.1% gain
  • Gould also worked at $IBIT issuer BlackRock for four years, as per his LinkedIn profile
  • Some crypto users believe Gould is a good pick, but others are concerned about his BlackRock 'ties'

Cryptocurrency prices climbed Wednesday night after news emerged that U.S. President Donald Trump nominated former Bitfury executive Jonathan Gould to lead the Office of the Comptroller of the Currency (OCC).

The banking regulator plays a crucial role in overseeing large banks across the country and Gould's appointment, if confirmed, could be a catalyst for change in the United States' approach toward digital assets in the banking sector.

Crypto Hits the Green Amid Gould's Reported Nomination

The broader crypto market was up Wednesday night after the White House submitted its nomination to the Senate for Gould to take over the OCC chief position, with most major crypto assets hitting the green following days of being in the red.

CoinGecko data showed that the crypto market was up 1.5% in the last 24 hours, with Bitcoin increasing by 2% to trade above $98,000.

Crypto prices late Feb 12 2025
Crypto prices late Feb. 12, 2025 CoinGecko

Ethereum was up 5.2% in the day, and XRP was also rallying by 2.5%. Cardano (ADA) climbed 3.5%, but BNB posted the most gains, surging by 12.1% in the day.

It appears the crypto market reacted positively to the news, given Gould's background with Bitcoin and digital assets.

Who is Jonathan Gould?

Gould, who is a partner at Jones Day law firm, previously worked as the chief legal officer of tech firm Bitfury, which provides Bitcoin mining equipment.

As per his LinkedIn profile, Gould also served from late December 2018 through June 2021 as a senior deputy Comptroller and chief counsel at the OCC.

One of his most significant work experiences was at asset management giant BlackRock. He served as a Director at the asset manager for four years, as per his LinkedIn profile. Notably, BlackRock is the issuer of spot Bitcoin exchange-traded fund (ETF) IBIT, the most popular crypto ETF so far and is unchallenged in the segment.

If the Senate confirms Gould for the role, he will be the U.S. Comptroller of the Currency for five years.

Crypto Users Divided Over Gould's 'Ties' to BlackRock

The crypto community on X went wild following news of Gould's nomination at the OCC, considering how crypto executives revealed in recent months how they were "debanked."

"Trump putting a former Bitfury exec in charge of banking regulation means the tide is turning. The days of anti-crypto bureaucrats gatekeeping the financial system are coming to an end," wrote one user.

"Interesting pick, someone with crypto experience leading the OCC could signal a shift in how regulators approach digital assets," the X handle of the humanDAO wrote.

Many other crypto users agreed that Gould would be good for the crypto industry.

On the other hand, there were also others who weren't sure Gould is a great choice, citing his "ties to BlackRock," which one user accused of being a promoter of "globalism."

Despite some concerns around Gould's work background with BlackRock, many crypto users believe getting a pro-innovation leader to head the OCC could bring positive change around the convergence of crypto and banking.

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