Crypto Community Remains Hopeful Despite Trump’s Silence on Crypto on First Day

Highlights:

• Trump’s inauguration lacked mention of digital assets despite strong crypto industry support.
• Crypto leaders remain optimistic, anticipating pro-crypto actions despite a quiet first day.
• Trump’s executive orders may ease crypto restrictions, including a potential CBDC ban.

On January 20, Donald Trump became the 47th president of the United States. Trump remained silent on crypto assets in his inaugural speech. The president, who attracted crypto industry support during his campaign, has not mentioned Bitcoin or digital assets in his speeches or statements. The White House calls Trump’s first day in office “historic,” citing 42 signed executive orders, memoranda, and proclamations.

Crypto Outlook Stays Positive Despite Trump’s Silence

Nonetheless, the outlook for crypto remains optimistic. Futures trader Satoshi Flipper told their 225,000 X followers that Trump’s actions over the weekend have already shown his commitment to crypto. “He’s fully locked in, buying hundreds of millions worth of altcoins, and people out here paranoid the top is in because Trump didn’t say ‘Bitcoin’ today,” they added.

Will Clemente, co-founder of Reflexivity Research, wrote on X that commentators were upset because Trump didn’t act on crypto on his first day. He added, “We live in such a bubble. Pro-crypto regulations are coming.”

CT freaking out because trump didn’t do anything with regard to crypto on the first day Trump got sworn in, we live in such a bubble. Pro crypto regs are coming. https://t.co/1vptbfqF8a

— Will (@WClementeIII) January 21, 2025

Moreover, a Reuters report on Monday shared that Circle CEO Jeremy Allaire expects the President to sign executive orders soon. These orders would ease restrictions on banks dealing with crypto, potentially ending “Operation Choke Point 2.0.”

Pro-crypto figures like Paul Atkins and Caroline Pham hold key Trump roles. Trump also created the role of “AI and Crypto Czar” for David Sacks. These moves suggest changes are coming, raising hopes for crypto-friendly policies.

Trump Set to Sign Executive Order Banning CBDC Creation, Reveals FOX Journalist

FOX reporter Eleanor Terrett shared on X that crypto policy leaders anticipate two key executive orders. One would ban a central bank digital currency, and the other would establish a crypto council. However, the timing of these orders remains uncertain. Reports suggest the Crypto Council will meet this Thursday, with major decisions expected. Terret noted that while details on executive orders remain unclear, the potential actions have generated significant interest and speculation in the crypto community.

Bloomberg reported on January 17 that sources close to Trump said he would sign executive orders. These orders could make crypto a national priority and create a crypto council. The Washington Post, on January 13, stated that Trump was expected to sign executive orders. These would address crypto de-banking and repeal a policy that requires banks to list crypto as a liability.

Bitcoin and Meme Coins React to Trump’s Inauguration

Following Trump’s silence on the crypto on Jan. 20, the Official Trump (TRUMP) meme coin dropped by 33%, reaching $32. Similarly, the Official Melania Meme (MELANIA) fell by 60% just one day after its launch. Bitcoin hit a historic high of $109,000 before Trump’s inauguration but dropped to $102,000 due to the president’s silence.

At the time of writing, it was trading at $102,129, showing a 6% decrease in the past 24 hours. Since Trump’s election in November, Bitcoin’s price has surged nearly 50%, fueled by hopes that his administration will implement pro-crypto policies.