This Monday, January 20, 2025, at noon (Eastern time), Donald Trump was inaugurated as the 47th President of the United States during a ceremony at the Capitol in Washington, D.C. This inauguration undoubtedly marks the beginning of a new era for the cryptocurrency industry! Because, with pro-crypto policies anticipated, investors are expecting significant changes and increased adoption of blockchain technologies.
What to remember
Donald Trump becomes president of the United States for the second time, having escaped two assassination attempts before the 2024 elections. During the election period, Trump made big promises to the crypto industry, including transforming states -United into a true crypto paradise, to create a national Bitcoin reserve, and to fire Gary Gensler, the former chairman of the SEC. These commitments have generated great enthusiasm among cryptocurrency investors.
Especially since before his inauguration, Donald Trump launched his own memecoin, $TRUMP, which quickly reached a capitalization of several billion dollars. Two days later, his wife Melania Trump followed by launching her own memecoin, $MELANIA, adding to the excitement and ethical concerns surrounding the presidential family's involvement in the crypto industry. These events marked a period of volatility and anticipation in the cryptocurrency space, as investors wait to see how Trump's pro-crypto policies play out.
During his inauguration speech on January 20, Donald Trump made no mention of the Bitcoin strategic reserve or cryptocurrencies. Additionally, cryptocurrencies are not among the immediate priorities in the document sent by Republican lawmakerscausing concern among investors. Users are expressing disappointment, saying he now seems indifferent to crypto since becoming president.
Additionally, SEC Commissioners Hester Peirce, Caroline Crenshaw and Mark Uyeda released an official statement today, after Donald Trump's inauguration, announcing the departure of Gary Gensler as SEC chairman. They expressed their gratitude for its service and commitment to investors. Trump will subsequently name Caroline Pham, a member of the Commodity Futures Trading Commission (CFTC), as acting chair of the financial regulator. In an announcement shared on January 20, a representative for Pham said she would temporarily replace former CFTC Chair Rostin Behnam until Trump names a permanent leader that the Senate can confirm.
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