Trump’s Presidency Sparks Hope for Crypto Revival

Trump’s Administration Takes Pro-Crypto Stance

With David Sacks appointed as “crypto czar” and Paul Atkins proposed as SEC chairman, Trump’s administration is signaling a profound shift in crypto policy. On his first day in office, Trump is expected to issue orders creating a Bitcoin reserve and ending the banking sector’s exclusion of crypto clients.

Frank Chaparro, one of Bitcoin’s early investors, labeled the move a “seismic shift” in remarks to the New York Post. He noted that removing banking restrictions could significantly boost the industry’s growth.

“Banks will be able to touch crypto — for the last four years they’ve been told they can’t,” Chaparro stated.

Trump’s ultimate goal: make the United States the global leader in cryptocurrency.

Source: Reuters

Debanking Under Biden — A Setback for Crypto

Crypto businesses struggled under the Biden administration as regulators reportedly discouraged banks from engaging with the industry. Nic Carter, a venture capitalist, dubbed this practice “Operation Chokepoint 2.0.” 

Consequently, numerous startups either relocated internationally or suspended their U.S. operations altogether.

Сheck out: Inside the US War on Crypto: Voices from the Industry

«Banks never tell you why they’re debanking you. They may communicate verbally that there are reputational risks, but the conversation is so obscure, Carter noted.

Carter forecasts a “crypto startup renaissance” in the U.S. as restrictions ease.

European cryptocurrency leader Midas is already preparing to enter the U.S. market. Dennis Dinkelmeyer, the company’s CEO, said:

“Founders across the market are looking to make a comeback or expand into the U.S. for the first time in four years.”

Regulation in Transition — Crypto Under Trump

Biden’s administration placed heavy emphasis on curbing speculative risks in the cryptocurrency sector. In contrast, many in the industry are hopeful Trump will pursue a more constructive regulatory path.

Trump’s administration is anticipated to unveil regulations that promote innovation while protecting consumer interests.

Anthony Pompliano, CEO of Professional Capital Management, suggests Trump will tackle issues like accounting standards, easing the use of Bitcoin in corporate transactions.

Trump’s initiatives are not without controversy, particularly his proposal to create a national digital reserve incorporating American cryptocurrencies such as Solana, USD Coin, and Ripple.

Despite Trump’s meetings with the projects’ founders, critics suggest that this plan could jeopardize Bitcoin’s standing as the top global cryptocurrency.

Crypto’s Golden Age on the Horizon

While some policies have sparked controversy, the overarching sentiment in the crypto world is one of excitement and hope. Many view the new administration as a turning point for the industry’s future.

“This is a radical shift. America is so back in business for crypto founders,” Chaparro remarked.

Crypto Ball — Ushering in a New Era

Optimism swept through the crypto community at the inaugural Crypto Ball, organized by David Sacks in the nation’s capital.

With tickets priced from $2,500 (already unavailable) to $1 million, the event kicks off the weekend of Trump’s inauguration, offering an exclusive dinner with the president-elect.

Supported by industry leaders like Coinbase, Solana, MicroStrategy, Kraken, and Galaxy Digital, the Crypto Ball has emerged as a rallying point for the crypto world, symbolizing its aspirations for a brighter future.

Supported by industry leaders like Coinbase, Solana, MicroStrategy, Kraken, and Galaxy Digital, the Crypto Ball has emerged as a rallying point for the crypto world, symbolizing its aspirations for a brighter future.

Crypto Ball to Precede Trump’s Inauguration.

Source: Х

With Trump’s inauguration on the horizon, the cryptocurrency industry is preparing for policy reforms that could revolutionize the industry and secure America’s role as a key player in the global crypto economy.

Although the true impact of these changes is yet to unfold, the community is ready to embrace the possibilities they bring.