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Trump, who once was skeptical about crypto, has become more supportive of it over time. He has even launched his own memecoins, $TRUMP and $MELANIA, which together were valued at $9.5 billion on inauguration day. His support for crypto could make the US a global leader in digital currencies, especially if he follows through on promises like creating a crypto advisory council and a national bitcoin reserve.
In 2024, Trump spoke at a Bitcoin conference, saying he wanted the US to become a Bitcoin superpower. He also promised to remove SEC Chairman Gary Gensler, who has been pushing for stricter regulations on crypto. Trump has nominated Paul S. Atkins, a pro-crypto businessman, to be the new SEC chair, which many in the crypto community view as a positive move.
Despite the optimism, challenges remain. Trump’s plan to introduce new crypto regulations within 100 days might face opposition in Congress. Additionally, concerns about crypto’s environmental impact and potential for misuse could spark resistance, particularly from Democrats.
Overall, the crypto industry is hopeful, but the success of Trump’s crypto policies will depend on overcoming political hurdles and ensuring transparency and security in the market. The next few years could determine whether this is the “golden age” of crypto or if further challenges will arise.