Trump's been throwing out a bunch of promises aimed at Bitcoin and the crypto space to attract voters.
Here’s a quick rundown of the new President's pledges (sourced from a message on Telegram), let’s see how this all plays out:
"Make Bitcoin a strategic reserve asset.
Ban CBDC creation. DONE
Make America the 'crypto capital of the world'.
Use Bitcoin to tackle the US government debt issue.
Foster innovation to build the 'greatest economy in history.'
End the Democrats' illegal crackdown on crypto.
Protect the right to mine and store crypto independently. DONE
Let citizens handle their own assets without government interference.
Get rid of Gary Gensler (the SEC chair) if he's re-elected. DONE
Stop the 'anti-crypto campaign by Joe Biden and Kamala Harris.'
Set up a presidential advisory group to ensure pro-crypto regulations are passed.
New crypto industry regulations will be crafted by 'people who love, not hate, the industry.'
Commute the life sentence of Silk Road’s founder. DONE
Wow! It seems people are having really high hopes on Trump! He appears to have become a massiah like figure for the crypto community. But believing a politician is probably the last thing you should do.
Lets use this thread to track the progress he makes during his tenure on the promises. It will be fun to see and also serves as a single source of truth. Let's do it!
I will be very happy if it accomplishes half of those things. Especially ban CBDCs and create a strategic bitcoin reserve. Let's see the look on the faces of the socialist governments with their CBDCs and their bitcoin disregarding policies.
It is not a matter of believing much or not, look at the markets and the reaction they had. He is pro-business, and he is the first pro-bitcoin USA president, who is surrounded by people who own bitcoin, plus there are now many senators and congressmen who are. As is often the case in this the USA is leading the way and the sheeple elsewhere have been caught off guard.
Well, we'll just have to wait and see if Trump really keeps all those promises he made. I mean, some of them sound easier to pull off than others. One that stuck out to me was his random promise to pardon Ross Ulbricht on day one. I gotta say that seems kinda random for a new president to prioritize. But hey, maybe Trump really cares that much about bitcoin heroes... Or maybe it just sounded good at the time and he'll totally blow it off once he's actually in office. I dont know. I guess we'll find out soon enough if Trump was all talk or if President Trump actually walks the walk.
I've reread these core promises several times, and I don't see anything impossible to fulfil here. Most of the promises are general in nature, like Make America Great Again. I'm sure now Uncle Gary Gesler will retire in early 2025.
I could be wrong but the US has a very interesting feature where a lot of money is in the stock markets and it keeps inflation down because that money doesn't go into the real economy. So the task of these stock markets is to do their best to keep the money in these markets.
I believe that was people around him, that talked him into it. He has proven to know next to nothing about bitcoin, and I imagine from Ross Ulbricht he knew the same. What he has is a bunch of people around him who are into it, starting with the VP, continuing with RFK Jr. and a bunch of other people. In the end I think he will get a better understanding of things but when he went to the Nashville conference you could tell he was very green on the subject.
Firing Gary Gensler should be top of the list, the sec chair is anti-crypto and that is why he regulates it through enforcement, no laid down rules, just go after crypto projects and tell them of their 'crime' later. I don't know if the president has the constitutional right to fire the personnel in such an office, i hope he does.
If Trump grants a presidential pardon to Ross once he takes office, that is going to be a really big one and it may create a backlash, he may have to back down on this promise, no?
I don't know exactly how the pardon system works in the US, but I read that Ross got 2 life sentences + 40 years. This was done on purpose so that he would serve a minimum of 40 years in prison. And rightly so, a drug dealer should not be free. So maybe 1 or 2 life sentences will be removed from the prison term.
https://x.com/Dennis_Porter_/status/1855002915414417720
"There is a legitimate feeling in Washington DC and across the states that a Strategic Bitcoin Reserve is not only possible, but an inevitability.
The calls and texts I am having with Senators and Representatives across the USA have me irrationally bullish.
Same! I too don't see anything impossible to achieve. Money circulation is one of the key factors to keep an economy running and growing. If the money is sitting on Back coffers or in stock market without circulation, that doesn't help!
If you look at the Bitcoin price trend, it's showing a bull run because Trump has been re-elected as the president and he had made several promises to keep the ecosystem running and growing.
What all I am saying is, don't trust a politician. I know Trump is a businessman and he has a few residential projects running in my city too. Let's hope he fulfills his crypto related promises and make US a safe place for crypto businesses to grow.
I'm shocked at the bitcoin price, but I still don't understand who is paying for this banquet. And I was betting on the growth of altcoin price.
If we compare the US with Russia, the US has local crypto exchanges, there are laws, there are practices, there are many guidelines for paying taxes and the US is leading in bitcoin mining.
Russia ranks second in the world in mining, but the legal framework is still being formed.
If the authorities finally give a clear explanation of what in the US is a share in the crypto market and what is a utility token, many projects will return or new ones will appear.
https://x.com/Ashcryptoreal/status/1881928388027596892
"PRESIDENT DONALD TRUMP SIGNED
AN EXECUTIVE ORDER TO FREE ROSS
ULBRICHT.
HERE IS THE FIRST IMAGE OF ROSS
LEAVING PRISON AS A FREE MAN.
TRUMP FULFILLING HIS PROMISES "
Hey, zasad@, I think you need to update the OP. He's already banned CBDCs and I think a couple of points more could be marked as done, like protect the right to mine and self-store cryptocurrency.
Source: https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology/
The banning of CBDCs seems to me to be extremely important, although I see that it is not being talked about much on the forum.
Thanks for continuing to follow the topic. I read the news too, but haven't had a chance to update the thread yet.
______
So far 4 promises have been fulfilled, if you have information sooner than I do, feel free to post about it.
"The first 30 days of Trump's presidency have brought remarkable changes in cryptocurrency.
1. the SEC is changing leadership and changing its approach to cryptocurrencies.
2. The SEC's Task Force on Cryptocurrency Policy, led by Commissioner Hester Pearce.
3. Silk Road founder Ross Ulbricht receives a pardon.
4. Trump creates a cryptocurrency task force led by cryptocurrency and artificial intelligence czar David Sachs.
5. The US Senate confirms a pro-cryptocurrency US Treasury Secretary.
6. The president nominates Brian Quintenz of a16z as the new CFTC chairman.
7. DOGE will try its hand at the SEC.
8. The Senate confirmed cryptocurrency advocate Howard Lutnick as Secretary of Commerce."
https://www.msn.com/en-us/money/other/timeline-trump-s-first-30-days-bring-remarkable-change-for-crypto/ar-AA1znkLI
https://www.wtkr.com/politics/president-trumps-first-100-days/president-trumps-first-30-days-rapid-government-changes-and-controversial-actions
Will Trump be able to fulfill all these promises? I counted 13 of them and he has only being able to fulfill four. Probably it's too early to start judging but past experiences has shown that it's not wise to hold a politician by his words knowing fully well how they can be tricky. Well, let's see whether this time around he will do better than he did during his first tenure.
There is something missing on the list, and it is that he would create a shit memecoin and people who buy it will lose their money, that was not on the list because he didn't tell us that part during the presidential campaign, lol. I believe the biggest one that a lot of people are waiting for is the promise of a BTC strategic reserve, and we will wait and see if that happens or not.
I wrote a lot about memcoins when they came out and the hamsters always lost money.
I don't really understand how laws in the US regulate conflict of interest and I've already seen bills that want to ban government officials from issuing meme coins.
Do you know the difference between Biden and Donald? The first is a sick man who can't be blamed if he says something and doesn't remember it the next day, while the second one knowingly lies because he knows that most people in this world won't dare tell him they're lying because he's a dangerous sheriff who shoots first and asks questions later.
I haven't found any information on how much money he and his wife made from their meme coins, but it's certainly not a small amount. As for all other promises, I think the president and his group of clowns are currently busy causing chaos wherever possible - and if the day is known by the morning, then I would not hope that we can expect anything good in the coming months/years.
A conflict of interest might exist with the previous administration, but if the president is a man with 37 confirmed indictments, would anyone expect any law to apply to him? He literally acts like an arrogant sheriff who is above the law, although I believe someone is taking careful note of all this and that some future administration will persecute him for it - although I wouldn't be surprised if he one day seeks political asylum from the man he admires so much.
Further information says that he is also adding BTC and Ethereum to the list. However, i thought that during the campaign we were only hearing about a BTC strategic reserve, now we can safely say it is a cryptocurrency strategic reserve and i would not be surprised if an altcoin gets the larger allocation.
Yeah, it will surely not be a small amount and that is why they did it, to enrich themselves at the expense of some gullible investors.