US President Donald Trump’s Cryptocurrency Moves
US President Donald Trump has been widely talked about for his Bitcoin and cryptocurrency steps since he officially took office in January.
Among his most notable moves to date, Trump’s launch of his own memecoin, TRUMP, and signing an executive order for the US Strategic Bitcoin (BTC) reserve on March 7 have been the most notable.
Trump also created an internal working group to focus on making the US the “world capital of crypto” through an executive order. The order also banned the “establishment, issuance, circulation and use” of a US central bank digital currency (CBDC).
While Trump has made many decisions like this, the first 100 days of his presidency have brought unprecedented change to the crypto industry. Along with the change, the news that Trump will have dinner with the largest TRUMP memecoin holders has sparked criticism and controversy.
Trump announced tariffs on all US trading partners on April 2, which he called “Liberation Day”, and bloodied Bitcoin and cryptocurrencies. Markets hit rock bottom after Trump’s statements.
The 100 Worst Days in History!
Trump has been providing engagement in both directions, with former White House communications director Anthony Scaramucci claiming that Trump’s first 100 days have been the “worst in modern presidency” despite his cryptocurrency promises.
Scaramucci said the trade war, which Trump first started with his tariff announcements, was a major political failure.
Secondly, he said that the discussions around Trump’s own token have negatively affected the industry and could jeopardize the industry’s efforts to make changes in Congress.
“I would say we’ve had the worst 95 days in modern presidential history. Markets have recovered a little bit, but $9 trillion is gone from the stock exchanges.
You had a booming economy before, and now it’s headed for a mid-size recession, probably a deep recession.
Trump has inflamed everything so much that he has made it difficult for [stablecoin legislation – GENIUS] to even happen. Trump’s tariff moves are not helping the US.”
*This is not investment advice.
