- Trump’s team is forming the presidential cabinet after a Republican landslide victory.
- Familiar names like Marco Rubio and Robert F. Kennedy Jr. are among the appointees.
- Howard Lutnick, backed by Elon Musk, is a strong contender for Treasury Secretary.
Following the November 5th victory over Kamala Harris, the team that will form the presidential cabinet on January 5th is already shaping up. Given the Republican landslide in the election, winning not only the Presidency but also taking over the Senate – Trump’s appointees are likely to see little resistance once nominated.
The list shows familiar names like Marco Rubio as Secretary of State, Robert F. Kennedy Jr. as HSS Secretary, Tulsi Gabbard as Director of National Intelligence, Todd Blanche as Deputy Attorney General, and Matt Gaetz as Attorney General.
After working with Trump in 2016 – Stephen Miller will be returning to the White House to serve as the United States Homeland Security Advisor, accompanied by Dan Scavino, James Blair, and Taylor Budowich.
One key position still up for grabs is Treasury Secretary. CBS News speculates that Scot Bessent, the founder of the global investment firm Key Square Group, is the favorite. However, the runner-up for the position could have serious implications for the cryptocurrency market if nominated.
Howard Lutnick – Cantor Fitzgerald CEO and longtime hedge fund manager – is quickly gaining support for becoming the next U.S. Treasury Secretary. The billionaire is backed by none other than Elon Musk for the role.
Throughout the campaign, Musk was one of the strongest pro-Republican voices. His growing influence over the future government as well as his power over shaping public discourse means that he is certainly someone Trump would listen to in his future Presidency.
And as it turns out, the South African-born is adamant that Trump should reconsider picking Bennet – while supporting Lutnick for the role.
Interestingly, Lutnick is also seen as the more “pro-crypto” option of the two. But truth be told both Bessent and Lutnick are supportive of digital assets.
However, Lunick is more outspoken about his support for cryptocurrencies and participated in the last year’s Bitcoin summit. Also, Lutnick became a custodian for Tether in 2023. So far no decision has been made, and Lutnick is charged with leading the Presidential transition team so Trump takes office in January.
On Twitter, Elon Musk urged the President-elect to reconsider appointing Bessent for the position. According to Elon, Scot Bessent would represent “business as usual”, arguing that is this kind of traditional business mentality that is leading America to economic hardships.
Meanwhile, Musk claims that Howard Lutnick would represent change, finishing by stating that the United States “needs change”. Also, Lutnick became a custodian for Tether in 2023.
So far no decision has been made, and Lutnick is charged with leading the Presidential transition team so Trump takes office in January.
