France – 2025/01/20: In this illustration, Trump Mimi, Trump, head of encryption, shows on the smartphone screen. (Clarification of photos by Romain Doucelin/Sopa Images/Lightroctic via Getty Images)
Roman Doline Gety pictures
Executive managers, companies and investors get an early return for their investments in Donald Trump.
After pouring tens of millions of dollars in the Trump campaign for the year 2024 for the presidency, the encryption industry was wonderfully paid during its first week at the White House.
“I don’t think they could have imagined a better result than they just got during the past 48 hours.” UberTell CNBC “Close the bell” Friday. Gorley said that although the new TECH effect in Washington may be harmful to some parts of the start -up world, it is clear that it is good for encryption.
Trump’s industry support was built on the Republican leader’s promise to stop the government’s campaign to encrypt and implement favorable regulations for those who want to develop new types of payment technologies while eliminating restrictions imposed on investments in encrypted currencies.
Heavy industry like Coinbase Chief Executive Brian Armstrong and Binance CEO, Richard Ting Yashidan starting a new era.
“You should remember, over the past four years, we have really felt that we were attacked by this administration,” Armstrong told CNBC at the annual World Economic Forum in Davos, Switzerland. Armstrong criticized the White House Biden for his attempt to “arm the lack of clarity in the bases”, and is punished even the companies that were trying to be useful.
“There were also some bad actors, to be fair,” Armstrong said. “But they really tried to go after good actors, I think, like us.” Coinbase was one of the companies’ donor pioneers in the 2024 election session.
Bitcoin It reached a record height of about 109,000 dollars on Monday and flying near $ 105,000 by the end of the week. It has increased more than 50 % since Trump’s electoral victory in early November.
Trump’s executive order for encryption
US President Donald Trump holds an executive thing signed in encrypted currencies at the White House oval office in Washington on January 23, 2025.
Kevin Lamark Reuters
It included an extension of the 48 hours referred to by Gurley Trump’s executive order to enhance the adoption of digital assets in the United States
Trump has called on members of the Treasury, SEC and SEC and the commodity futures trading committee to unify efforts in a working group to evaluate the potential for coding currencies seized by the government.
The matter has set the other major priorities, such as protecting miners and software developers by what the president called “persecution”, and promoting the US dollar Stablecoins, with a ban on a digital dollar of federal reserves.
David Sachs, the investment capitalist, who was used by Trump to be in the White House and Crypto Czar, joined the president at the Oval Office to sign the matter.
Later on Thursday, the Securities and Stock Exchange Commission issued a historical advertisement, and withdrew an accounting base that made institutional coding more difficult by forcing banks to treat bitcoin and other symbols as a responsibility in its public budget.
Al -Qaeda, known as SAB 121, was presented in 2022 and digital assets were subjected to strict capital requirements. It also raised the financial and organizational risks of providing encryption nursery services and enhancing the operational costs of financial institutions.
The efforts to cancel SAB 121 gained support from the two parties in Congress last year. But President Biden at the time achieved in intercepting the proposed legislation, leaving the rule sound, which discourages banks from adopting digital assets outside the trading of derivatives and providing money circulating on the stock exchange to wealth management clients.
This step was celebrated by SEC Hyster Peres Commissioner, who was exploited on Tuesday to lead a new “encryption” business team inside the agency.
“Goodbye, goodbye 121! After x.
Before SEC announced, David Solomon, CEO of Goldman Sachs CNBC in Davos, told Davos that from an organizational perspective, the bank could not own bitcoin and that it would reconsider the case if the rules changed. Murghan Stanley Executive Chiefs Bank of America He also said that the tone of President Trump, supporting the kicks, could reshape their plans and may lead to extensive digital offers.
A few days ago, Gary Ginsner stepped down as SEC president. Ginserner, who has emerged as a coding opponent, defended the base as necessary to protect investors in the event of the encryption company bankruptcy. Trump’s choice of Jenner is former SEC Commissioner Paul Atkins, the CEO of Patomak Global Partners.
The founder of the Silk Road comes out of prison
Ross ULBRICHT, the Silk Road, appears in an unknown image made of his computer and was presented as an exhibition during his 2015 criminal trial in the New York Federal Court.
SDNY | By Reuters
The first big sign of Trump to the encryption industry as a president came early in the week and took a completely different shape.
On Tuesday, his second day in his post, Trump gave a complete amnesty to Russian Olbricht, the founder of the Silk Road. Olbricht, 40, was serving a life imprisonment without the possibility of conditional release since 2015, after being convicted of the Federal Court In seven fees included Distribution of drugs and conspiracy to commit a computer piracy.
Silk Road was run from 2011 to 2013, as it was a dark web market as users bought and sold a mixture of smuggler, including illegal drugs such as heroin. Platform Sales facilitated more than 200 million dollarsAccording to federal public prosecutors, at least six people were bound.
At its peak, the silk road was working as a global drug bazaar, with transactions that were largely conducted in Bitcoin, making it one of the first applications on a wide range of encrypted currency. The representatives of the prosecution later argued that the lack of disclosure of his identity provided by Bitcoin had an effective role in leaving the Hariri road sellers hiding their identities.
ULBRICHT has become a type of worship of a kind in the encryption community, and “Ross is free “ The movement has gained an echo among conservative media figures and politicians.
“I just contacted Ross William Olbrecht to inform her that it was in honor of her and the liberation movement, which strongly supported me, it was a pleasure to just make a complete and unconditional pardon for her son, Ross,”, Ross, ” Trump books In a post on the social truth on Tuesday.
Changpeng Zhao, co -founder of the billionaire and former Executive Director of Binance, Stuck On x with clap the emojis after announcing the pardon. Zhao was sentenced to four months in prison in April, after he admitted that he was guilty of charges of enabling money laundering in the exchange of encryption.
Trump Mim currencies
Hakan Nour Gety pictures
In the past week, it was not praised globally by Trump’s actions last week by the encryption industry.
It is worth noting that the president was disturbing part of the notorious market for fraud. At the end of last week, while the encryption leaders, members of the Trump family and the inner circle were celebrating Crypto Ball in Washington, Mimi $ TROMP was taking off online.
Then the Melania currency was $. Combated, the Trump family has made billions of dollars on paper because of its ownership of the assets created from the delicate air. Crypting fans are concerned that it is a worrying sign of Trump’s true intention and destroys the credibility of an industry that tries to prove its legitimacy.
Nic Carter wrote from Castle Island Ventures, in A. mail On x.
the Website For $ Trump says 80 % of the offer by Trump and subsidiary companies.
Legislators also have objections.
Senator Elizabeth Warren and MP Jake Osinglos, both of whom are Democrats in Massachusetts, raised issues related to the first couple using enrichment sites, as well as the possibility of “rug” fraud.
The couple said in a letter obtained by CNBC: “We write deeply about President Trump’s decision and first lady Melania Trump to launch two fatal currencies, $ Trump and Melania, which allows them to earn unusual profits from his presidency.” .com. “These coins do not create faster, cheaper and safer payments. These coins do not help people to borrow more. They do not improve the financial system in any way for consumers.”
$ TROMP is now trading with less than $ 30, a decrease of more than 50 % of its peak after a short period of launch. The Melania Code has decreased more than 80 % of its highest level, and it is currently being circulated less than $ 2.50.
Meme coins are subject to a multi -year schedule, ensuring that the majority of symbols cannot be filtered once. Without selling any symbols, Connor Grogan, analyst It is able to do so The Trump team still generates $ 58 million of commercial fees on the first day.
Doubts are not limited to Mimi currencies.
In Trump’s executive order on Thursday, the president was less than the US guidance to start buying Bitcoin directly and detained it as a reserve.
Before the matter, the CEO of Binance Richard Teng told CNBC in Davos that he expected the United States to establish a strategic bitcoin reserve. CEO of Serkeli Jeremy Air described it as “wise” for central banks to hold bitcoin reserves.
Trump had put the idea on the campaign’s path, indicating that the American bitcoin reserves can be supported by the seizures of the infiltrators and fraud rings, a suggestion that is still under consideration.
But in his 1300 -word executive on Thursday, Trump did not avoid calling for a bitcoin reserve. The word bitcoin was not present anywhere.
– Ryan Brown of CNBC contributed to this report.
