Trump’s inauguration brings swift moves affecting the crypto market, regulatory landscape and the activity of financial institutions.
Donald Trump was sworn in as the 47th President of the United States on January 20. Despite the absence of direct references to Bitcoin in his inaugural address, the new administration swiftly took actions of significance to the cryptocurrency community. On January 21, the President granted clemency to Ross Ulbricht, the founder of the Silk Road platform.
“I have just contacted the mother of Ross William Ulbricht to inform her that, in honor of her and the Libertarian Movement that has supported me so strongly, I have proudly signed a full and unconditional pardon for her son,” Trump announced on the Truth Social platform.
Source: ABC News
Cryptocurrencies are volatile and risky. Invest responsibly.
Trump appointed Mark Uyeda as the new Chair of the SEC. Additionally, a task force was established to “focus on supporting the Commission in defining clear regulatory boundaries, ensuring practical registration procedures, and creating reasonable disclosure frameworks.” This initiative represents the fulfillment of another campaign promise.
Source: SEC
Cryptocurrencies are volatile and risky. Invest responsibly.
World Liberty Financial, a blockchain venture managed by the Trump family, executed significant ETH acquisitions totaling $47 million to mark the presidential inauguration. The portfolio was further expanded to include wrapped Bitcoin as well as AAVE, LINK, TRX, and ENA tokens. A portion of the acquired ETH was allocated for staking via the Lido protocol.
Source: Yahoo
Cryptocurrencies are volatile and risky. Invest responsibly.
One day prior to the inauguration, two memecoins associated with the presidential couple - TRUMP and MELANIA - debuted on the market. Both tokens initially recorded significant value increases; however, TRUMP later underwent a sharp correction, illustrating the high investment risk inherent in such projects.
Source: Investing
Cryptocurrencies are volatile and risky. Invest responsibly.
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