Representative Mike Johnson of Louisiana has been re-elected as Speaker of the House, following a vote by his Republican colleagues on Friday. Johnson, who has received public endorsement from former President Donald Trump, secured the required 218 votes in the first round of voting. He had to convince two fellow Republicans, Representatives Ralph Norman and Keith Self, to switch their votes in his favor.
With a slim majority in the House, Johnson could only afford to lose one vote, which he did to Representative Thomas Massie. The voting process was relatively swift, lasting just 2.5 hours. Johnson is viewed as a supporter of the crypto industry, having voted for the Financial Innovation and Technology for the 21st Century Act and a bill opposing central bank digital currencies. His re-election, along with Representative Tom Emmer's continued role as Majority Whip, bodes well for crypto-friendly legislation in 2025.