#Trump100Days

“The First 100 Days of Trump: Impact on Cryptocurrency

Donald Trump has been back in the White House for 100 days — and it has been a time of volatility, instability, and chaos for the markets.

The cryptocurrency world had high hopes when the president secured a second term. But despite some significant pro-Bitcoin announcements, there remains disappointment.

Just before the inauguration, the market was in a frenzy when he announced the official $TRUMP token — and it was not without controversy. Some critics argue that this move is a blatant conflict of interest… and could potentially threaten national security.

At the time of writing, this meme coin has dropped 82% from its all-time high of $75.35 set on January 19. But $MELANIA is faring much worse after dropping nearly 97%.

After settling in the Oval Office, there was eager speculation that a series of executive orders supporting cryptocurrency would be signed on the first day, including the creation of a strategic Bitcoin reserve. But they never happened. BTC surged to a record $109,000 on January 20 — and has not returned to that level since.

However, Trump quickly made some commitments in his campaign announced on stage at Bitcoin 2024 in Nashville. Ross Ulbricht — the founder of the Silk Road dark web marketplace — was fully and unconditionally pardoned and was photographed smiling as he left prison for the first time in 11 years. Reports suggest that Sam Bankman-Fried is also lobbying for a pardon, but this has yet to materialize.

Meanwhile, some BTC-friendly members of Trump's cabinet have quickly been approved by the Senate. They include Treasury Secretary Scott Bessent, who stated: "Cryptocurrency is about freedom and the cryptocurrency economy will last long-term."

Others are facing intense scrutiny. Commerce Secretary Howard Lutnick was criticized during his confirmation hearing but did not answer questions about his company's relationship with the stablecoin Tether.”