Donald Trump’s return to the White House created a wave of anticipation across multiple sectors, including the cryptocurrency world. There had been many hints that his second term would bring changes in how digital assets are regulated. Some observers expected to hear something about blockchain during the inauguration speech, especially given the president’s statements over the past months. Yet the ceremony ended with no official mention of tokens or the agencies that oversee them.
SEC Leadership Shifts on Day One
One of the most concrete developments for the crypto market occurred away from the inaugural podium. Shortly after Trump took office, the White House announced that Mark Uyeda would become the acting chair of the Securities and Exchange Commission (SEC). Uyeda is known for questioning the enforcement-heavy approach taken by his predecessor, Gary Gensler. He has often asked why certain decisions are settled through lawsuits instead of through clearer rulemaking.
This leadership shift marks a potential turning point for crypto firms that have been wary of the SEC’s stance. Over the last few years, many felt they were left guessing whether their projects might suddenly be labeled unregistered securities. The crypto community now looks to Uyeda for signals that the SEC might chart a path that clarifies which tokens qualify as securities and which do not.
This change might especially benefit Ripple’s XRP token, should the SEC under the new administration decide to drop the appeal from the lawsuit.
No Mention of Crypto in the Inauguration Speech
For all the advance discussion, Trump did not bring up crypto during his inaugural remarks. Instead, he focused on issues such as the economy, national security, and trade.
The lack of any direct statement about digital assets was not completely surprising – as we explained in this article, it was the most likely outcome expected by investors. Some saw this omission as a missed chance to confirm the administration’s interest in new financial tools. Others think it suggests that digital assets will be addressed in a more formal setting later, rather than in a broad ceremonial speech.
Despite the silence, there are indications that the administration wants to foster growth in the crypto and fintech space. The new SEC leadership could still act on the matter soon. Major policy changes often involve detailed legal steps, so a formal announcement at an inauguration might have been too vague to be meaningful.
TRUMP and MELANIA Tokens complicate the situation
The president also clearly signaled his interest in the cryptocurrency space by creating his TRUMP token, although some voices this move might cause more disruption than good. The token rapidly gained value, reaching a $15B valuation in just a two days, only to crash and lose nearly half of its value when Melania Trump announced her own token.
Critics of the developments warn about a potential pump-and-dump scheme, convinced that the tokens are just cash grabs. With Melania launching her own token, it is unclear whether more people-related tokens will appear in the coming days, or whether they should be treated seriously. Some investors criticize these coins for painting crypto in a negative light – seemingly as a pump-and-dump – and for drawing attention away from more serious projects in the crypto space.
There are also more optimistic views. Some people believe Donald Trump might care about his token, as the tokenomics suggest a long-term strategy. They point out he would benefit if the token doesn’t crash, and some have even speculated that he might try to use it as an official token instead of adopting existing cryptocurrencies. That said, all of this remains purely speculative at this point.
Market Response
Earlier today, Bitcoin surged to $109K, setting a new all-time high. Since then, it has retreated to around the $103K level, where it has remained for the last few hours. Because crypto was not mentioned during the inauguration – an outcome many had anticipated – there was no spectacular price movement. However, if the coming days bring more solid pro-crypto regulatory developments, a sudden shift in sentiment could occur. As we saw earlier, the market is extremely volatile and could react swiftly to any significant news.
