Donald Trump completed his first 100 days back in the White House.
While the crypto sector anticipated significant pro-crypto measures following his second term, the period delivered mixed results and contributed to stalling Bitcoin’s price momentum.
Early Actions and Market Reactions
Before the inauguration, Trump unveiled an official $TRUMP token.
This move generated market activity but also attracted criticism alleging conflicts of interest and security concerns.
The $TRUMP token’s price later fell 82% from its peak; the $MELANIA token decreased by nearly 97%.
Initial speculation suggested immediate executive orders establishing a strategic Bitcoin reserve, but the administration did not issue these on day one.
Bitcoin reached a high of $109,000 on January 20 but did not return to that level during this period.
Campaign Pledge Fulfillment and Key Appointments
Trump fulfilled a campaign promise by granting a full pardon to Ross Ulbricht, founder of the Silk Road marketplace.
Reports indicated Sam Bankman-Fried sought clemency, but the administration did not grant it.
The Senate confirmed several cabinet members viewed as supportive of cryptocurrency, including Treasury Secretary Scott Bessent.
Commerce Secretary nominee Howard Lutnick faced questions during his confirmation hearing regarding his firm’s connections to Tether.
The administration appointed David Sacks as its first AI and crypto czar; Sacks sold his crypto investments before taking the position, and the appointment received broad approval.
Business Interests and Policy Shifts
Trump-related businesses, including the Trump Media and Technology Group, increased their cryptocurrency holdings and introduced exchange-traded funds.
On March 2, Trump unexpectedly announced via Truth Social his intent to create a U.S. crypto reserve featuring XRP, Solana, and Cardano, causing these altcoins’ prices to rise significantly.
He later clarified that Bitcoin and Ether would be central to the reserve.
Experts criticized the initial proposal’s structure and questioned its feasibility.
Subsequently, Trump signed an executive order establishing a strategic Bitcoin reserve and a separate reserve for other cryptocurrencies, revising the earlier plan.
Also Read: Impeachment Suggested as Trump Attends TRUMP Coin Holder Dinner
