During his inauguration speech, Donald Trump did not mention cryptocurrencies, despite industry expectations.
The cryptocurrency sector was impatiently awaiting Donald Trump's inauguration speech on Monday, January 20, hoping that he would be in the spotlight. However, at no time did the American president mention this sector, contrary to polls predicting that he would talk about bitcoin or other crypto projects. Likewise, cryptocurrencies are not among the “national priorities” of the new administration’s mandate.
Result: the cryptocurrency market is in poor shape following the inauguration of Donald Trump. On Coinmarketcap, the 10 largest cryptocurrencies have all fallen over the past 24 hours, with bitcoin falling 5.5%, ether 4% and the third largest crypto on the market, XRP, 4%. Since the election of Donald Trump, the cryptocurrency market has been in full euphoria, with the latter announcing several flagship measures for this sector, from regulatory clarity to the establishment of a national bitcoin reserve.
But will these promises be quickly taken into account, in the flow of the numerous economic projects that await the new American president? The crypto ecosystem hoped that he would issue at least one presidential decree on cryptocurrencies on the day of his inauguration, but this is not the case. We will have to wait the next few days or weeks to see what projects will be launched.
-“Great things”
As a reminder, the elected Republican promised to “do great things” with the sectorformerly a favorite target of the American stock market regulator (the SEC). The latter, who proclaims his interest in bitcoin, intends to become the “most pro-crypto” American president in history.
To make the United States “the crypto capital of the world”, Donald Trump surrounded himself with many pro-crypto personalities. He named lawyer Paul Atkins to head the SEC in place of anti-crypto Gary Gensler and David Sacks as adviser on artificial intelligence (AI) and cryptocurrencies within the White House. The elected Republican also intends to create a Presidential Advisory Council on cryptocurrencies, bringing together 24 bosses of the crypto industry.
