On January 20, Donald Trump was sworn in as the 47th President of the United States, ushering in what he called a “golden age” for America. His inaugural address touched on economic strength, unity, and border control, addressing pressing issues like inflation, immigration, and energy production. Yet, one glaring omission caught the crypto community’s attention: there was no mention of Bitcoin or cryptocurrency.
Crypto Snubbed in Trump’s Inaugural Address
Despite the Trump family’s growing presence in the crypto world—marked by the recent launch of the “Official Trump” and “Official Melania Meme” tokens—Trump’s silence on the topic left traders and enthusiasts puzzled. Both tokens initially saw massive trading volumes before their values stabilized, retaining multi-billion-dollar market caps.
Meanwhile, Bitcoin hit an all-time high of $109,020 just hours before Trump’s inauguration. However, the excitement was short-lived as profit-taking and market uncertainty pushed the price back to $103,000—a nearly 5% drop.
Day One of Trump’s Presidency: A Mixed Bag for Crypto
The crypto community had high hopes for Trump’s return to the White House, fueled by speculation about potential executive orders. Rumors suggested the creation of a strategic Bitcoin reserve, the establishment of a crypto advisory council, or even a ban on central bank digital currencies (CBDCs).
Instead, Trump’s first day in office focused on other priorities. He signed 80 executive orders, including measures to halt new federal regulations, withdraw from the Paris Agreement and World Health Organization, and reinstate federal workers. Crypto wasn’t addressed, leaving the industry in suspense.
Optimism Amid Uncertainty
Despite the silence, hints of future action are emerging. Journalist Eleanor Terrett hinted at potential executive orders banning CBDCs and forming a crypto advisory council. Jeremy Allaire, CEO of Circle, expressed optimism about relaxed restrictions on banks holding digital assets.
Trump Jr.’s announcement on inauguration day also bolstered confidence. He unveiled strategic investments by World Liberty Financial (WLFI), a Trump family-backed DeFi project. The investments included $47 million in Ethereum and Wrapped Bitcoin, alongside smaller allocations to Aave, Chainlink, TRON, and Ethena, totaling $120 million.
Regulatory Shifts Underway
The Trump administration has already begun reshaping crypto regulation. Gary Gensler stepped down as SEC Chair on January 20, replaced by acting Chair Mark Uyeda, a crypto advocate. Former SEC official Paul Atkins, another crypto supporter, has been nominated to take over the role permanently.
At the Commodity Futures Trading Commission (CFTC), Caroline Pham—known for her blockchain-friendly stance—has become acting Chair. Pham previously proposed a pilot program for crypto oversight, positioning the CFTC as a potential leader in regulating crypto spot markets.
Even the FDIC is seeing leadership changes, with Chair Marty Gruenberg stepping down ahead of Trump’s inauguration.
Bitcoin and the Road Ahead
Bitcoin’s recent performance has fueled speculation about its future under Trump. After reaching $109,020, analysts stress the importance of holding above $100,000 to sustain momentum. Altcoins have also benefited from a weaker U.S. dollar and falling yields, adding to market optimism.
Experts like Richard Galvin, co-founder of DACM, urge patience as the administration juggles competing priorities. David Bailey of Bitcoin Magazine hinted that executive orders addressing crypto might be among Trump’s first 200 actions.
If such orders include a regulatory framework, a strategic reserve, or a crypto council, they could provide a significant boost to the market.
Conclusion: A Promising Yet Uncertain Future
The Trump administration’s second term has started with more questions than answers for the crypto industry. While immediate action is lacking, behind-the-scenes developments suggest progress is coming.
As Bitcoin eyes support levels and the market anticipates policy clarity, the coming months could define the future of crypto under Trump’s leadership. For now, the crypto community must navigate uncertainty with cautious optimism.
Source: crypto.news
