No Crypto Orders from Trump on Day 1: What This Means for the Industry

No Crypto Orders from Trump on Day 1: What This Means for the Industry

No Crypto Orders from Trump on Day 1 – The crypto community was left disappointed after President Donald Trump signed multiple executive orders on his first day in office, but none of them targeted the cryptocurrency sector. While his focus was largely on immigration, energy policy, and restructuring federal operations, the absence of crypto-related measures came as a surprise to many in the industry. Before the inauguration, rumors had suggested that the new administration would address cryptocurrency early on, but these expectations were not met.

Crypto Industry Expectations vs. Reality

Leading up to Trump’s inauguration, speculation circulated about bold actions that could be taken to boost the crypto sector. Suggestions ranged from making cryptocurrency a national priority, creating a Bitcoin reserve, or even pardoning Ross Ulbricht, the founder of the Silk Road, who is currently serving a life sentence. Despite the buzz surrounding these potential moves, none of them materialized on Day 1. In his inaugural speech, Trump did not mention cryptocurrency, leaving advocates feeling uncertain about the new administration’s stance on digital assets.

Fox Business Journalist Highlights the Missing Crypto Orders

Prominent FOX Business journalist Eleanor Terrett called attention to the lack of crypto executive orders on social media, stating, “No Day 1 executive orders on #crypto or industry-related pardons, then?”. This omission did not go unnoticed, especially considering the significant financial contributions from the crypto community to Trump’s campaign and inauguration. Crypto firms, including Ripple, Circle, Coinbase, Robinhood, and Kraken, collectively donated around $10 million to his inauguration. Despite these substantial contributions, the lack of acknowledgment raised concerns among crypto advocates.

Bitcoin Enthusiasts Express Disappointment

Many within the crypto community, including Bitcoin enthusiasts like Nate, expressed their disappointment, accusing Trump of breaking promises made during the campaign. The lack of executive orders or crypto-related pardons left some feeling disillusioned.

Hope for Future Crypto Developments

Despite the disappointment surrounding Day 1, some crypto supporters remain hopeful. A proponent of XRP suggested that larger priorities might have taken precedence, encouraging the community to remain patient. Optimism still exists for future developments as some believe the administration will focus on crypto-related policies in the near future.

Tesla CEO Elon Musk Responds, Providing Reassurance

In the wake of the uncertainty, Tesla CEO Elon Musk took to social media, offering reassurance to the public. He expressed confidence that Ross Ulbricht would eventually be freed, sparking some hope within the community. Furthermore, Max Brown, a well-known crypto analyst, drew attention to the fact that World Liberty Finance (WLFI), a project inspired by Trump, made substantial crypto investments on the inauguration day. WLFI purchased $112.8 million worth of Bitcoin (BTC), Ethereum (ETH), Aave (AAVE), and Chainlink (LINK), signaling continued interest in the industry despite the initial lack of executive orders.

Circle CEO Confident About Future Crypto Orders

Amid the uncertainty, Circle CEO Jeremy Allaire expressed confidence that President Trump would soon sign an executive order that would enable banks to trade, hold, and offer crypto investments to their clients. This belief adds to the growing optimism within the crypto community, as many still hope that significant regulatory changes will come soon.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.