Trump’s Inaugural Silence on Crypto: What it Means for the Future

On January 20, 2025, Donald Trump was sworn in as the 47th President of the United States, heralding what he termed a “golden age” for America. His inaugural address emphasized themes of unity, economic strength, and influential border control while addressing numerous pressing issues like inflation, immigration, and energy production. However, a notable absence in his speech was the failure to mention Bitcoin or cryptocurrency, which left many in the crypto community looking for answers.

Just days prior to his inauguration, Trump launched his own meme coin, Official Trump (TRUMP), with Melania Trump quickly following suit with her own coin, Official Melania Meme (MELANIA). This unexpected shift created a significant buzz within the market, driving millions of traders to participate. Nevertheless, after a brief period of euphoria where Bitcoin reached a record high of $109,020, the price swiftly dropped to around $103,000 as of January 21. Analysts point to profit-taking and market uncertainty as primary causes for this decline, highlighting the impact of Trump’s silence on crypto during a pivotal moment.

While his first day in office saw Trump sign over 80 executive orders, including pulling the U.S. out of the Paris Agreement, none of these actions addressed the crypto industry. The anticipation surrounding potential initiatives to support or regulate digital currencies dissipated as Trump’s administration shifted priorities elsewhere. However, not all is lost; hints from journalists like Eleanor Terrett suggest that significant moves regarding crypto regulation might still be forthcoming.

Despite the initial disappointment, there are renewed glimmers of optimism in the market. On January 20, Trump Jr. announced substantial investments made by World Liberty Financial (WLFI) in the DeFi space, committing over $120 million to various cryptocurrencies, including $47 million in Ethereum and Wrapped Bitcoin. This reinforces the Trump family’s financial commitment to the crypto sector, suggesting an underlying confidence in its future.

The regulatory landscape may also be undergoing changes, with key appointments signaling a more crypto-friendly environment. As former SEC Chief Gary Gensler resigned, crypto advocate Mark Uyeda was appointed as acting chair of the SEC, with notable discussions around easing restrictions on banks holding digital assets. The upcoming days for crypto under the renewed Trump administration leave many with a sense of uncertainty paired with potential optimism, awaiting executive orders that might redefine the industry’s trajectory.

In conclusion, while Trump’s silence on crypto during his inauguration has created ripples of concern, the underlying activities from both his administration and his family’s investments reveal a complex narrative. The future of crypto remains an open question, but for now, anticipation brews regarding forthcoming opportunities and potential regulatory clarity.

Last News

Read Next

Want to learn even more about NFTs?

Sign up for the 👇Newsletter