Trump’s Inauguration Leaves Crypto World in Limbo

Donald Trump was inaugurated as the 47th President of the United States on January 20. While his speech highlighted American innovation, entrepreneurship, and energy independence, it glaringly omitted any mention of cryptocurrencies — a stark contrast to his campaign promises that had crypto enthusiasts buzzing.

During his campaign, Trump made waves by pledging to:

• Make crypto a national priority
• Protect self-custody rights
• Oppose a central bank digital currency (CBDC)
• Pardon Ross Ulbricht, the founder of Silk Road
• Establish a crypto council featuring industry leaders

But his inauguration speech — and early White House communications — failed to address these bold commitments, leaving many in the crypto community disappointed and uncertain about what’s next.

The crypto market was quick to respond.

• Bitcoin: After hitting a record $109,000 just before the inauguration, optimism turned to skepticism, causing Bitcoin to drop to $104,000.
• Polymarket Confidence: Odds of a U.S. strategic Bitcoin reserve within Trump’s first 100 days fell from 60% to 45%.
• Kalshi Bets: Despite the dip, Kalshi bettors still place a 60% chance on a reserve happening this year.

These fluctuations highlight the market’s sensitivity to Trump’s crypto stance — or lack thereof.

Adding fuel to the fire, Trump launched the TRUMP token on the Solana blockchain just days before his inauguration. The memecoin’s stats are nothing short of astonishing:

• 490% Surge: The token skyrocketed within 24 hours of its launch.
• Market Cap: It reached a staggering $11 billion, sparking both excitement and skepticism.

Critics like blockchain expert Nic Carter have labeled the token “preposterous,” while others see it as a bold move to cement Trump’s influence in the crypto space.

In addition to the TRUMP token, Trump endorsed World Liberty Financial (WLF), a DeFi protocol where he serves as “chief crypto advocate.”

• Critics argue WLF is a meme project disguised as a legitimate DeFi initiative.
• Supporters believe it could evolve into a powerful financial platform under Trump’s leadership.

The project has drawn attention, but whether it gains real credibility remains to be seen.

While the lack of immediate crypto action was disheartening, Trump’s appointments suggest the potential for future developments:

• David Sacks: Named “AI & Crypto Czar,” Sacks is a prominent venture capitalist with ties to the crypto industry.
• Paul Atkins: A known crypto advocate, Atkins has been nominated to lead the SEC, signaling possible regulatory changes.

Despite the shaky start, insiders remain optimistic about Trump’s long-term crypto strategy. Potential moves include:

• Executive Orders: Speculation about directives to support the crypto industry.
• Crypto Council: Hints at forming a team of industry leaders to advise on policy.
• SEC Reforms: Possible revisions to controversial crypto regulations under Atkins’ leadership.

Donald Trump’s inauguration has left the crypto world divided. While Bitcoin’s dip and the absence of immediate crypto-friendly policies disappointed many, the launch of the TRUMP token and high-profile appointments hint at future possibilities.

Is this the calm before the crypto storm — or the beginning of unfulfilled promises? Only time will tell.

What’s your take? Will Trump make good on his crypto promises, or is this all hype? Let us know in the comments!