(Reuters) - Michael Grimes, a technology banker with Morgan Stanley, is in talks to leave the bank for a position in U.S. President Donald Trump's administration, the Wall Street Journal reported on Wednesday, citing people familiar with the discussions.

Major U.S. banks Morgan Stanley and Bank of America are exploring cryptocurrency service offerings while awaiting regulatory clarity, marking a shift in traditional banking's approach to digital assets.

The CEO also said he is ‘bullish’ on the potential for stock sales, including initial public offerings in 2025.

Hedge funds have positioned for Donald Trump's U.S. presidency with their highest levels of borrowing since 2010, while betting the dollar would continue to rise, according to bank research and industry data.

With Trump set to implement at least 100 executive orders on Monday, here are the areas of the market that could see moves.

High interest rates have been weighing on the stock market rally, and there may be little Donald Trump can do to remedy that issue.

President Donald Trump's oversight of an increasingly unreliable U.S. power grid requires swift action, he said this week, but there is no easy fix for one of the grid's most complex and troubled areas: long-distance transmission lines.

“While dollar bulls are numerous and perhaps most vocal in expressing their views, there seems to be a more ‘silent’ plurality of investors looking to sell the dollar instead,” strategists including David Adams wrote in a note. “Many have dry powder and are waiting for a sign to enter shorts.”

Morgan Stanley's Profit More Than Doubles on ... interest-rate cuts and expectations of lighter regulation under incoming President Donald Trump. It also wraps up a strong first year for CEO ...

The CEO of top American bank Morgan Stanley said that he is open to working with regulators so that the firm can offer crypto services.

Morgan Stanley’s forecast for the greenback is one of the most bearish among strategists surveyed by Bloomberg. Adams sees the US Dollar Index sliding to 105 by the end of the first quarter and 101 by year-end, compared with the median forecasts of 108.7 and 106.9.