Crypto investors and analysts are confident that US President Donald Trump will still deliver on all of his crypto promises despite not talking about the space on his first day.
Trump had his inauguration yesterday, and the global crypto community was expecting him to mention the digital asset industry or start to deliver on the promises he made to crypto voters during the election. However, the lack of crypto-related executive orders from the 47th US President on his first day caused some concern among crypto community members.
Nevertheless, there are still investors and analysts who remain optimistic that major Web3-related developments will be made under the pro-crypto Trump administration in the months to come.
“Trump didn’t need to say anything today about crypto. Not one word. He has already fully expressed his dedication to crypto with his actions all weekend,” said Pseudonymous X user Staoshi Flipper to his over 225.1K followers in a Jan. 21 post on the platform.
This comes after Trump issued a number of executive orders yesterday. However, the lack of crypto-related orders sparked market volatility. As such, crypto market leader Bitcoin (BTC) fell to $102,000 from its all-time high at $108,786 that it set shortly before the inauguration.
Trump leadership inspires hope
The recent appointment of industry-specific executives to key regulatory positions has inspired investors and leaders from around the world. Mark Uyeda and Caroline Pham, the new acting chairs of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), are known as advocates for clear and fair cryptocurrency rules.
Jake Chervinsky, a renowned cryptocurrency lawyer and board member of the Blockchain Association, voiced his optimism towards these pro-crypto appointments in a Jan. 21 X post by saying, “For the first time ever, the SEC and CFTC are in the hands of leaders who oppose regulation by enforcement and support clear rules of the road for crypto”.
Differing viewpoints on Trump’s inauguration yesterday
People do, however, have differing viewpoints regarding Trump’s inauguration. Some critics believe that the lack of crypto mentions during his inaugural day was intentional. According to asset management specialist and policy commentator “MacroScope,” Bitcoin was not addressed during Trump’s inaugural speech because it was not an “appropriate topic” for the occasion.
Circle CEO Jeremy Allaire also remains optimistic. While speaking at the World Economic Forum in Davos, he predicted legislative action on crypto laws by US President Trump in the near future. Allaire also encouraged Congress to address critical issues like removing the SEC’s Staff Accounting Bulletin (SAB121), which prohibits banks from including cryptocurrency holdings on their financial records, stating that he hopes “President Trump would take that action”, while discussing the importance of a more crypto-friendly regulatory climate.
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