Crypto Industry Expectations from Trump’s Policy and Its Impact on the Market
Date: 2025-01-21 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
After taking office on January 20, Trump signed several executive orders, but none of them concerned digital assets. Despite actively supporting the crypto industry during the election campaign, neither Bitcoin nor other digital assets were mentioned in his first statements. Against this background, the cryptocurrency market showed a decline: Bitcoin fell by 6% from a record $108,786 to $102,000.
However, many analysts remain calm. Trader Satoshi Flipper, who has 225,000 subscribers on the X platform, noted that Trump’s actions over the weekend confirmed his interest in cryptocurrencies. “He’s heavily invested in altcoins, and there’s no reason to panic about his failure to mention Bitcoin on Day 1,” he wrote.
Reflexivity Research co-founder Will Clemente also emphasized that the undue concern surrounding Trump’s lack of mention of cryptocurrencies on Day 1 is misplaced. “We’re in a bubble. Crypto-friendly regulations will come,” he said.
Blockchain lawyer and Blockchain Association board member Jake Chervinsky noted that the new interim heads of the SEC and CFTC, Mark Ueda and Caroline Pham, are taking a crypto-friendly stance. “For the first time in their history, the SEC and CFTC are led by leaders who oppose coercive regulation and support clear rules for the crypto industry,” he noted.
Asset management commentator MacroScope said that the lack of mention of Bitcoin in Trump’s inauguration speech is not surprising. “This is just not the right topic for this kind of talk. It’s going to be headline news in the coming days and weeks,” he said.
Meanwhile, Circle CEO Jeremy Allaire told Reuters at the World Economic Forum in Davos that he expects Congress to step up its work on cryptocurrency regulation soon. He said committees would begin working in the coming weeks.
Allaire also called for the repeal of the SEC’s SAB 121, which restricts financial institutions from holding cryptocurrency on their balance sheets. “I hope President Trump takes notice,” he added.
