The absence of crypto-related executive orders from US President Donald Trump on his first day back in office has caused unease within the crypto community. Despite signing numerous executive orders on January 20, none have addressed cryptocurrency assets or policy, leaving many in the industry concerned.
During his campaign, Trump had courted the crypto community, but his first-day actions did not include mentions of Bitcoin (BTC $102,306) or digital assets. As a result, crypto markets have experienced a decline, with Bitcoin dropping 6% from an all-time high of $108,786 to $102,000.
However, several industry commentators and investors remained optimistic. Futures trader “Satoshi Flipper” reassured followers on X, with over 225,000 users, that Trump had already demonstrated his commitment to crypto through other actions, referencing the president’s launch of a memecoin over the weekend.
Satoshi Flipper also noted that Trump has been buying altcoins in significant quantities, expressing frustration with those who assumed the market had reached its peak just because Trump hadn’t specifically mentioned Bitcoin on his first day back in office.
Reflexivity Research co-founder Will Clemente echoed these sentiments, dismissing concerns as exaggerated. He wrote on X, “We live in such a bubble. Pro-crypto regulations are coming.”
Crypto lawyer and Blockchain Association board member Jake Chervinsky offered a more grounded perspective, pointing to the crypto-friendly leadership of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). He highlighted the appointments of Mark Uyeda and Caroline Pham, noting that both regulators oppose “regulation by enforcement” and are in favor of clear, structured rules for crypto markets.
Commentator “MacroScope” downplayed the significance of Trump’s failure to mention Bitcoin in his inaugural speech, emphasizing that it was not an appropriate topic for the occasion. “There will be more than enough headlines about it in the coming days and weeks,” they added.
Meanwhile, Circle CEO Jeremy Allaire, speaking at the World Economic Forum in Davos, noted that Congress would likely ramp up its activity around crypto regulations in the near future. He also called for the repeal of the SEC’s Staff Accounting Bulletin (SAB 121), which restricts banks and financial institutions from holding crypto assets on their balance sheets. “I would hope that President Trump would take that action,” Allaire said.
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