In the first 100 days of his second term, U.S. President Donald Trump demonstrated a notable commitment to transforming the United States into a global hub for cryptocurrencies, with varying results and challenges. Here are the main developments:
1. Major Regulatory Shift
- SEC Reform: Trump ousted former SEC chairman Gary Gensler and appointed pro-crypto Paul Atkins, resulting in the withdrawal of cases against companies like Coinbase and Ripple.
- Stablecoin Legislation: The GENIUS and STABLE bills have been proposed to regulate stablecoins, with expectations of unified legislation being passed soon.
- Ban on Central Bank Digital Currencies (CBDCs): Trump issued an executive order to prevent the development of a central digital dollar, focusing on encouraging decentralized currencies.
2. Bitcoin as a Strategic Asset
- Strategic Bitcoin Reserve: Trump announced the creation of a national stockpile that includes Bitcoin and Ethereum, supported by massive government holdings (198,012 Bitcoins).
- Encouraging Mining: The administration reduced restrictions on the energy sector to boost local mining, with family investments in companies like "American Bitcoin."
3. Market Fluctuations and the Impact of Tariffs
- Bitcoin's Rise and Fall: Bitcoin surged to $100,000 after Trump's reelection but fell to $78,250 in February 2025 due to fears of trade wars. It partially recovered after tariffs were suspended in April, but remains down 9% from its January level.
- Correlation with Stock Markets: Bitcoin moved in tandem with technology indices (like Nasdaq, which lost 11%), but it began to show independence as a "safe haven" during recent fluctuations.
4. New Projects and Initiatives
- World Liberty Financial (WLFI): A company linked to Trump launched a DeFi platform that raised $550 million, with plans to issue a stablecoin (USD1) and distribute an "airdrop."
- Appointment of "Caesar of Cryptocurrencies": David Sachs, former PayPal director, has been chosen to lead sector support policies, including the formation of specialized working groups.
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### Ongoing Challenges:
- Inflation and Recession: Tariffs (such as 145% on China) could raise the costs of tech investments and undermine growth.
- Legislative Instability: Despite progress, bills like STABLE still require Congressional approval, facing opposition from some Republicans.
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Summary: Trump achieved a significant part of his digital agenda, but its full economic effects have yet to materialize. While the crypto community celebrates liberating steps, markets remain cautious due to volatile trade policies. #Trump100Days lays the groundwork for a long battle between innovation and systemic risks.
