#BinanceAlphaAlert #BTCRebound $BTC
Anthony Scaramucci, former White House communications director, described the first 95 days of Donald Trump's presidency as "the worst in modern history for U.S. presidents." This statement came at a time when the cryptocurrency market was experiencing significant volatility due to Trump's economic and trade decisions.
Digital currencies at the core of new policies
The first 100 days of Trump's presidency saw unprecedented developments in the cryptocurrency field, from the launch of a meme coin specific to his family, to the establishment of a Bitcoin reserve and the issuance of regulatory policies related to blockchain technology.
Impact of the trade war on the crypto market
The trade war declared by Trump negatively affected countries like China, Canada, and Mexico, impacting the cryptocurrency market. The rising costs of electronics made it more difficult for Bitcoin miners to achieve profits, and concerns about declining reliance on the U.S. dollar increased.
Pro-crypto appointments
Despite the controversy, this period saw the appointment of prominent pro-cryptocurrency figures to sensitive positions, such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Notable among them were Paul Atkins and Brian Quintenz, which gave some hope for a more organized and supportive future for the industry.
Pardon for Silk Road founder
In a move that sparked widespread controversy, Trump announced a commutation of the life sentence for Ross Ulbricht, founder of the Silk Road platform which was previously used to trade Bitcoin for illegal goods. This move received support from the cryptocurrency community, especially from advocates for individual freedoms.
Ban on digital dollar and creation of crypto task force
On January 23, Trump signed an executive order banning the issuance of a U.S. Central Bank Digital Currency (CBDC), considering it a threat to privacy. In response, he created an internal task force to make the United States "the capital of the world in digital currencies."
Bitcoin Reserve and American Digital Inventory
On March 7, Trump signed an executive order to create a "Strategic Bitcoin Reserve," including digital assets seized in criminal cases. He also established the "American Digital Asset Inventory," which includes currencies like Ethereum, Solana, and Cardano.
White House Summit on Digital Currencies
A summit was organized that brought together leaders of the digital industry at the White House to discuss the future of regulation and development. The summit included figures like Michael Saylor, Brian Armstrong, and David Sacks, but the absence of some prominent names raised criticisms about the inclusivity of the dialogue.
Launch of a stablecoin and calls for investigation
In late March, WLFI launched its new stablecoin "USD1," fully backed by government and cash assets. This project sparked a wave of criticism, especially after raising over $500 million from WLFI token sales, prompting some lawmakers to call for an ethical investigation.
"Liberation" Day and comprehensive tariffs
On April 2, Trump announced tariffs on all countries that impose taxes on American goods, calling the day "Liberation Day." These policies increased pressure on financial markets and the crypto market amid fears of an economic recession.
The controversial dinner and calls for the president's impeachment
On April 25, reports emerged of a lavish dinner requiring meme coin holders to pay $300,000 to sit with the president.
This prompted Democratic Senator Jon Ossoff to call for his impeachment, arguing that selling influence in this way "constitutes a crime warranting removal from office."
Uncertain future for the industry
Despite the significant momentum, the close ties between the Trump administration and crypto projects may harm the industry's chances of achieving real legislative progress, according to Scaramucci. Additionally, the political controversy may complicate the passage of laws like the STABLE Act in Congress, which seeks to regulate stablecoins in the United States.