President Trump first day: Which crypto promises fulfilled?
Trump's first achievements
On January 20, the inauguration of the new U.S. President, Donald Trump, took place. The cryptocurrency industry eagerly awaited this event, as Trump had promised to deliver numerous crypto-related initiatives on his first day in office. However, things didn’t go as planned.
Market crash following the inauguration
On Monday, January 20, all eyes were on the inauguration of the 47th President of the United States. Donald Trump took the oath of office and delivered a 30-minute speech outlining several priority executive orders.
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Trump’s inaugural address was filled with various promises and declarations. He spoke about the military, energy, immigration, gender issues, geopolitical plans, and space exploration—but said nothing about cryptocurrencies.
The market reaction was swift — traders liquidated nearly $1.3 billion in positions within 24 hours. Bitcoin faced heightened volatility, while altcoins like Solana and Cardano experienced significant price drops.
Campaign promises
Why did this happen? Just a year ago, few believed Donald Trump could win the presidency. His usual base wasn’t enough to secure a majority, so he decided to bet on cryptocurrencies. Trump positioned himself as a supporter of digital assets, and this strategy worked—the Bitcoin community helped elect him as the new President of the United States.
To appeal to his newfound audience, Trump made a series of bold statements that the crypto industry took seriously. He vowed to fulfill most of these promises on his first day in office, but in reality, this didn’t happen. This delay has caused turbulence in the market. But what exactly did Donald Trump promise to do?
Establishing a national Bitcoin reserve
One of Trump’s most notable campaign promises was the creation of a national Bitcoin reserve, modeled after companies like MicroStrategy, which regularly purchase BTC. He envisioned this reserve as a way to strengthen the U.S. economy, protect the dollar from inflation, and enhance America’s role in the global cryptocurrency ecosystem.
This idea sparked intense discussions in financial circles and resonated beyond the U.S. Some countries, such as Thailand and Argentina, began considering their own Bitcoin reserves as a means of diversifying assets and bolstering their national currencies.
Regulation and mining
Trump’s plans also included significant reforms to the regulatory landscape. One promise already fulfilled was the removal of SEC Chairman Gary Gensler, who resigned on inauguration day.
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Trump appointed Mark Uyeda as interim SEC head, a figure more favorable to cryptocurrencies than his predecessor. Under Uyeda’s leadership, the regulation of digital assets is expected to become more transparent and predictable.
Trump also vowed to support the mining sector, making Bitcoin production a national priority. He proposed incentives and tax breaks for miners and energy companies, stating, “All Bitcoin will be mined, minted, and produced in the USA.”
Making the U.S. the global crypto capital
Another of Trump’s ambitious goals is to make the U.S. the global capital of cryptocurrencies. To achieve this, he pledged to support the development of crypto startups by removing regulatory barriers.
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A key step in this plan is the creation of a cryptocurrency advisory council comprising industry experts. This council will draft the necessary regulatory framework, offering guidance on taxation, compliance, and industry standards.
Free Ross Ulbricht
One of the most controversial U.S. government decisions related to the crypto industry was the life sentence given to Ross Ulbricht, founder of the dark web marketplace Silk Road. For 12 years, the crypto community has been advocating for his innocence, and Trump pledged to help.
Trump promised to address Ulbricht’s clemency on his first day in office. According to Elon Musk, head of the newly established Department of Government Efficiency (DOGE), plans to release Ulbricht are already underway.
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Mysterious executive orders
While Trump’s inaugural speech didn’t mention cryptocurrencies, he appears to have begun delivering on his promises. Bitcoin Magazine CEO David Bailey reported that Trump signed 200 documents on his first day, some of which pertain to the crypto industry.
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It’s unclear which promises these orders address, but one thing is evident: the market’s panic may have been premature. Trump, though slightly delayed, has started implementing his crypto campaign agenda. Upcoming initiatives include the creation of Bitcoin reserves, Ulbricht’s release, SEC reforms, mining incentives, and turning the U.S. into the world’s crypto capital.
