On the first day as president, Trump signed 42 executive orders, memorandums, and Proclamations, 15 staffing actions, over 200 executive initiatives, 60 minutes of press conferences, and three historic speeches. (Not bad for day one — he probably thought he'd get the day off.) Yet, not one of them touched on cryptocurrency.
President Donald Trump’s Historic First Day at Office 🇺🇸
— DogeDesigner (@cb_doge) January 21, 2025
-42 Executive Orders/Memoranda/Proclamations
-115 personnel actions
-More than 200 executive actions
-60 minutes of press Q&A
-3 historic speeches pic.twitter.com/ONCMygfhc5
What Trump Didn’t Do
As Bloomberg reported on January 17, insiders close to Trump claimed he would, perhaps on his first day back in office, sign orders making cryptocurrency a national priority and establishing a cryptocurrency council.
However, in President Donald Trump’s first address to the nation, digital assets didn’t even get a mention, leaving crypto enthusiasts disappointed. Many had hoped the self-proclaimed crypto-supporting president would prioritize token regulation and elevate cryptocurrencies to national importance.
Here’s what Trump didn’t do:
1. Mention Bitcoin in his inaugural address.
2. Pardon Ross Ulbricht, the controversial founder of Silk Road, serving a double life sentence without parole.
3. Establish a Presidential Cryptocurrency Council.
4. Announce plans for a national Bitcoin reserve.
5. Repeal the SEC's "SAB 121" rule, which prevents banks and financial institutions from holding cryptocurrency assets on their balance sheets.
This perceived indifference to a multi-billion-dollar industry caused frustration online. Online commentators are going crazy, “because Trump didn’t do anything about cryptocurrency on the first day he was sworn in.”
However, many are hoping that action has not yet been taken. Changpeng Zhao, former CEO of Binance, said you shouldn’t expect everything at once, and good things take time.
Everyone expects everything to happen in one day. 😆
— CZ 🔶 BNB (@cz_binance) January 21, 2025
Good things take time.
Futures trader Satoshi Flipper, with over 225,000 followers on X, argued that Trump has already demonstrated his commitment to crypto by launching the $TRUMP cryptocurrency.
BTW, Trump didn't need to say anything today about crypto. Not one word. He has already fully expressed his dedication to crypto with his actions all weekend. His kids are locked in. His wife is locked in. He's fully locked in, buying hundreds of millions worth of ALTS and people…
— Satoshi Flipper (@SatoshiFlipper) January 21, 2025
Meanwhile, Circle CEO Jeremy Allaire told Reuters at the World Economic Forum in Davos on January 20 that he anticipates Congress will soon revisit cryptocurrency regulation.
Some analysts suggested it shouldn’t come as a surprise that Bitcoin wasn’t mentioned in Trump’s speech, as it wasn’t exactly “the right occasion.” While Bitcoin and cryptocurrencies were not mentioned directly by the president, some positive steps were taken in the industry.
What Trump Did
According to a White House briefing, Trump’s second-term priorities include energy independence, public safety, government bureaucracy reform, and promoting “American values.” But that doesn’t mean he’s forgotten the fiery campaign promises he made.
A few early wins for crypto include:
DOGE Is Official
Trump signed an order launching the *Department of Government Efficiency* (DOGE), an advisory commission tasked with reducing federal government expenditures. Billionaire and Tesla CEO Elon Musk will head it.
It begins https://t.co/Uh9lyb3lp8
— Elon Musk (@elonmusk) January 21, 2025
Key Regulatory Changes
Trump nominated former SEC commissioner Paul Atkins to finish the term of ex-chairman Gary Gensler, set to end in June 2026. In the interim, SEC commissioner Mark Uyeda will serve as acting chairman.
Gensler, true to his word, resigned shortly after Trump’s victory, with the SEC issuing a formal statement about his departure.
The CFTC also saw a leadership change – Caroline Pham was named acting chair, replacing Rostin Behnam.
Crypto lawyer and Blockchain Association board member Jake Chervinsky praised these pro-crypto acting chairs at the SEC and CFTC.
For the first time ever, the SEC and CFTC are in the hands of leaders who oppose regulation by enforcement and support clear rules of the road for crypto 💫
— Jake Chervinsky (@jchervinsky) January 21, 2025
Congrats to Acting Chairs Mark Uyeda and Caroline Pham.
There’s no time to waste. Let’s get the USA on the right track!
In addition to the positive personnel decisions, on the first day, Trump also signed several orders addressing immigration, the U.S.-Mexico border, federal workforce hiring, withdrawal from the Paris Climate Agreement and World Health Organization, and even renamed the Gulf of Mexico to the “Gulf of America.”
🚨BREAKING: Trump officially signs executive order to reinstate the name Mount McKinley and change the name of the Gulf of Mexico to the Gulf of America.
— Autism Capital 🧩 (@AutismCapital) January 21, 2025
Richard Adrian
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