The cryptocurrency landscape is witnessing pivotal changes with the entry of prominent figures from traditional finance and significant policy shifts under the Trump administration. Fireblocks, a digital asset platform, recently welcomed former Visa CFO Vasant Prabhu to its board, bolstering its efforts to build trust and credibility in the evolving crypto ecosystem.
Prabhu’s Strategic Move to Blockchain
Vasant Prabhu, a seasoned financial executive with a distinguished career spanning roles at Visa, Intuit, and Delta Airlines, has joined Fireblocks’ board. Prabhu served as Visa’s CFO and vice-chair for eight years before leaving in 2023. He brings decades of expertise in finance and payments, making his move to the blockchain space a notable development.
In a statement, Prabhu remarked, “The payments landscape is at a critical inflection point, and blockchain technology is the engine driving this transformation.” Fireblocks, experiencing an 85% year-over-year surge in institutional transaction volume in 2024, is focusing on further expansion with Prabhu’s guidance.
Trump’s Crypto-Friendly Agenda
The appointment coincides with U.S. President Donald Trump’s pro-crypto initiatives during his second term. Trump has signaled a departure from previous regulatory frameworks, pledging support for the cryptocurrency sector. Key steps include nominating crypto advocate Paul Atkins as the next SEC Chair, following the departure of Gary Gensler, known for his aggressive stance on crypto enforcement.

Additionally, Trump has appointed Mark Uyeda, a crypto-friendly commissioner, as acting SEC Chair and established a “crypto task force” led by Hester Peirce. Both Uyeda and Peirce have been critical of the SEC’s prior approach to crypto regulation, advocating for a more balanced framework to foster industry growth.
Challenges in Building Trust
Despite these moves, the cryptocurrency industry continues to grapple with challenges related to volatility, security, and perceptions of its use for illicit activities. Critics argue that while Trump’s policies may spur innovation, they could also undermine efforts to build credibility.
A controversial decision by Trump was his full pardon of Ross Ulbricht, founder of the Silk Road, a dark web marketplace that used cryptocurrency for illegal activities. Ulbricht’s conviction in 2015 on charges including narcotics distribution had long been a flashpoint in crypto-related debates. Trump’s pardon has drawn mixed reactions, with supporters hailing it as a libertarian victory and critics questioning its impact on the industry’s image.
Future of Crypto Under Trump
As Trump’s administration pushes forward with its crypto-friendly agenda, the industry is at a crossroads. Leaders like Prabhu stepping into the blockchain space signal increased collaboration between traditional finance and digital assets, potentially accelerating mainstream adoption. However, the success of these initiatives hinges on balancing innovation with robust regulatory oversight to foster trust and stability.
Prabhu’s addition to Fireblocks underscores the growing convergence of traditional finance expertise with blockchain technology, reflecting a broader shift toward legitimising cryptocurrencies in the global financial ecosystem. Whether Trump’s policies will propel or hinder this progress remains to be seen.