The cryptocurrency market has experienced significant developments following President Donald Trump’s recent inauguration. Bitcoin ($BTC ) reached a new all-time high, surpassing $109,000, driven by investor optimism about potential crypto-friendly policies from the new administration. 
In a notable move, President Trump signed an executive order establishing a working group to review digital asset regulations and explore the creation of a national Bitcoin reserve. This initiative stops short of introducing a central bank digital currency (CBDC) but signals a more supportive stance toward cryptocurrencies. 
The Securities and Exchange Commission (SEC), under new leadership, has softened its approach to crypto regulation. The agency formed a Crypto Task Force and rescinded a restrictive accounting rule, creating a more favorable environment for the crypto industry. This shift has led to a surge in applications for crypto ETFs, including those for riskier assets like leveraged meme coin ETFs, and proposals for new investment products such as in-kind redemptions for Bitcoin ETFs. 
Additionally, the Trump administration launched two new meme coins: Official Trump ($TRUMP ) and Melania’s coin ($MELANIA), both based on the Solana blockchain. $TRUMP launched at $6.50, peaked at $75.35, and is currently trading around $37. $MELANIA reached a high of $13.73 before stabilizing around $4.30. 
These developments suggest a potentially transformative period for the cryptocurrency market under the new administration. Investors are closely monitoring policy changes and market responses as the landscape evolves.
