After Donald Trump officially returned to the White House with a second presidential term, the crypto community was filled with hope for a new 'spring' for the cryptocurrency market. Supportive statements, attention-grabbing actions, and strategic appointments led many to believe that a golden era was about to return. However, the first 100 days have passed, and the market is starting to wonder: Is it all just a media effect?
Trump – From 'against Bitcoin' to 'walking alongside crypto'?
Donald Trump once called Bitcoin a 'scam' in 2021, but now he is the first president to issue NFTs, launch memecoins, and even incorporate crypto into his campaign messaging. This is a notable reversal of his stance. Many believe this is a sign that Trump has truly seen the potential of digital assets.
However, the most notable action in the first 100 days of the term was his signing of the decree establishing the Strategic Bitcoin Reserve Fund to manage tens of thousands of BTC and digital assets seized by the U.S. government from criminal cases.
Symbolically, this is an important step – for the first time, the U.S. government publicly recognizes the importance of cryptocurrency. However, in reality, this decree does not come with a specific plan, no implementation roadmap, and no clear direction on how to utilize this BTC.
Market disappointment: Bitcoin 'drooping'
Even with seemingly positive information from the administration, the price of Bitcoin has fallen nearly 6% in the past 100 days since #TRUMP took office. This is a stark contrast to the beginning of Biden's term, when Bitcoin rose over 50%, mainly due to expectations of institutional capital flowing into the market.
The fact that the crypto market did not rise according to political statements suggests that investors are cautious and need more than promises – they need concrete actions, a clear legal framework, and a real commitment from the government.
Pardon for Ross Ulbricht: A double-edged sword
A highly controversial decision in the first 100 days of Trump's term was his pardon for Ross Ulbricht, the founder of the Silk Road black market – a historical symbol linked to the early days of Bitcoin.
This move is viewed by part of the crypto community as 'understanding decentralized culture', reflecting the 'anti-system' image that Trump has built. But on the flip side, critics argue that this is a dangerous tolerance that could undermine trust in the proper use of crypto.
The strategy of using people: Development or control?
Trump has appointed a series of crypto-friendly personnel to key positions such as:
Paul Atkins becomes Chairman of the SEC – someone who has repeatedly opposed 'repressive' crypto policies.
David Sacks serves as an advisor on crypto and AI – known for his support of decentralization and free markets.
This is good news for the industry, but upon closer inspection, it resembles a strategy of 'using people to break barriers' – prioritizing internal changes rather than building a sustainable legal framework.
No matter how the executive branch changes, without legalization from Congress, any policy is merely seasonal. And the fact is, to date, there has not been a single crypto bill passed by the U.S. Congress.
Does the Trump administration want to liberalize crypto – or control it?
A concerning perspective is that Trump seems unwilling to liberalize the crypto market, but only wants to control it using government tools.
From proposing to nationalize blockchain data to the idea of creating a stablecoin under the supervision of the Federal Reserve (Fed), these actions indicate that the U.S. government may be preparing to become a key player on the crypto stage – rather than just a lawmaker.
If so, this is not a 'revolution' of the cryptocurrency community, but merely a transfer of power from a decentralized ecosystem to the hands of the central government.
Trump – A media catalyst, but lacking a long-term strategy
Summarizing the first 100 days of the term, it can be seen that $TRUMP is a master of communication. He knows how to say what the community wants to hear, acts enough to create psychological effects, but has yet to take any systematic steps for the crypto market.
If the community expects Trump to enact clear legal frameworks that promote liberalization and protect users, they may be disappointed. However, if they view him as a catalyst to accelerate dialogue and legalize the crypto sector, then that is a role Trump could very well fulfill.
Engaging with Binance users and the crypto market
In the context of the lack of a clear legal framework from the U.S. government, users on exchanges like Binance need to be cautious of political fluctuations coming from the U.S. – a country that has a significant influence on global capital flows.
Any policy move by Trump could affect investment capital flows, market liquidity, and the stability of top tokens. Users need to closely monitor legal changes and actual actions – rather than just relying on political statements.
Risk warning
Investing in the cryptocurrency market always carries significant risks. Fluctuations from policies, legal frameworks, or statements from leaders can strongly impact asset prices. This is a highly volatile field, not suitable for everyone. Users need to conduct thorough research and consider risks before participating.