There was a lot of activity in the digital currency world this week as recently inaugurated President Donald Trump took overthat immediately affected space.
Official $ Trump tokens launched on Solana
Three days before Trump’s inauguration on January 20, his team launched $ TrumpA Meme token on Solana Blockchain. The official website of the token Explained, “This Trump -Meme celebrates a leader who doesn’t go back, regardless of odds.” While the site emphasized that $ Trump is “not an investment opportunity, investment contract or security of any type,” the token’s price rose after going live. When Coytecko started tracking it was priced $ Trump to $ 6.54. Within a few hours it skyded at a maximum time of $ 72.62. However, it seems that Trump later tried to distance himself from the token and stated that he did not know much about it in addition to the launch and that he “heard that it was very successful.”
Back-to-back Trump Memecoin launches: $ Melania Token
But the $ Trump token was not the only coin released, and it was then pumped and dumped by Trump administration leads up to the opening day. One day after the Trump launch, Melania Trump Published Her own Meme -Token, $ Melania. Speculators initially rushed to buy $ Melania, run by Fomo from either winning big or missing on the $ Trump pump. When CookeNecko started tracking $ Melania, it was priced at $ 8.48 and topped cards to $ 13.05 before crashing to $ 3.68, all within three days.
So why was Melania launch overwhelming compared to the $ Trump launch? The launch was not met with the same enthusiasm, which created many critics and skeptics who claimed that Back-to-back launches were no more than a cash grip. A move like this made it clear that the Trump administration is treating digital currency as money rather than a legitimate industry. The Back-to-back-token launches sent a clear message to the digital currency community that Trump may not do as much for the industry as they hoped he would.
‘Crypto’ absent from Trump’s inaugural agenda
To give insult to injuries, the words “blockchain“And” Cryptocurrency “was absent from Trump’s January 20 inaugural speech and executive order. Administration “First priorities” document Focused on border and immigration policy and energy infrastructure, which left digital currency enthusiasts, as they expected explicitly digital currency support from Trump, which began on their first day in the White House. At this point, many people in the industry seemed to lose confidence in Trump’s ability to Herda digital currency to greener pastures. His series of what can be called Misseps, especially token launches, left a bitter taste in the mouth of digital currency advocates.
Trump Pardest Silk Road Founder and launches “Crypto Task Force”
The following day, however, Trump seemed to make changes. On January 21, the administration pardoned Ross Ulbricht, Creator of Silk Road Darknet Marketplace and a figure deeply confused with Bitcoin history. This movement was generally celebrated in the digital currency community and was regarded as a gesture of implicit support for the industry.
https://truthsocial.com/@realdonaldtrump/113869112741612092
Also launched Securities and Exchange Commission (Sec) a crypto working group January 21, Digital Currency Putable Commissioner appointed Digital Currency Hester Peirce as his leader. The group’s mission is to establish clear regulations for the industry.
During an interview at the World Economic Forum (WEF) on January 22, Circle CEO Jeremy Allaire expressed Confidence that executive orders related to digital currency will come.
Will the Trump administration be good for blockchain?
Like when Trump took office for the first time in 2024, from a media perspective, there is never a sad moment when Trump is on duty. He seems to like the limelight, thinks there is no such thing as poor pressure and probably sees the value in making a PT Barnum-like screen of everything.
While Trump and $ Melania Token launches generated significant attention, they also raised concern about legitimizing speculative projects. The unclear pumpkin The nature of these symbols can set a precedent over the next four years, which signals that memecoins and similar systems are acceptable during the current administration.
This type of environment would be the polar opposite of the regulatory degradation seen during President Biden’s service when earlier SEC -Chairman Gary Gensler Took a strong position on fraudulent projects – which seems to have been redirected as “Meme symbols.” With Trump in the office, the market could see an increase in speculative symbols with little or no benefit, which potentially undermines efforts to establish digital currency’s credibility and help the industry to mature.
Despite the early mistakes, the Trump administration can still be a net positive for the industry. Create a crypto for working group and expected executive orders signal a desire to give the clarity of the legislation, which will benefit industry giants who ask for better politics for several years. However, the effect on retail investors is likely to be minimal. This group will probably be able to speculate with fewer consequences for measures such as launching meme coins, but I don’t expect much beyond that.
I think it is also important to note that I am not surprised by digital currency was not one of the Trump administration’s first priorities. Its Estimated The fact that only 27% of us adults own digital currency, and although this is a significant number, it is still a minority compared to other voter bases. This explains why the administration seems more focused on enabling major players in the industry rather than meeting the needs of average investors.
As the Trump administration develops, the digital currency will be given more time in the headings. It will be necessary for companies, governments and enthusiasts to look at this development, especially within Trump’s first 100 days in the service, as they are likely to set the pace for what will come over the next four years.
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