10 Crypto News from Trump’s First Week in Office

Written by: 0xxz@黄金财经

Trump's inauguration as US President began with the launch of memecoin by the Trumps. This move triggered a lot of mixed reactions in the crypto community.  

Trump was then sworn in on January 20. After the inauguration, Trump started working and signed a large number of executive orders including in the crypto field, triggering a series of major crypto events.

This article reviews the major crypto events triggered by Trump in the past week since he took office.

1. Issue the first crypto executive order

On January 23, 2025, Trump issued the first crypto executive order (for the full text, see Golden Finance’s previous report “A quick overview of Trump’s first crypto executive order”), requiring: protecting and promoting the ability of individual citizens and the private sector to access and use public chains; American citizens can develop and deploy software, participate in mining and verification, conduct transactions, and self-custody of digital assets; promote and protect the sovereignty of the US dollar, and promote the development and growth of stablecoins backed by the US dollar; protect and promote fair and open access to banking services for all law-abiding citizens and private sector entities; provide regulatory clarity and certainty; protect Americans from the risks of CBDC, prohibit the establishment, issuance, circulation and use of CBDC within the jurisdiction of the United States; revoke No. 14067 2. Establishment of the Presidential Crypto Working Group

The crypto executive order signed by Trump last week is to form a crypto working group. Some of the main goals of the group are to help develop a regulatory framework for cryptocurrencies and evaluate the creation of digital asset reserves. Some of the main members of the group include the U.S. SEC, CFTC, and the Treasury Department. In addition, large crypto-related companies are also vying for seats on the group to assist the crypto space to thrive.

3. Senator Lummis appointed as chair of the Senate Banking Subcommittee on Digital Assets

Senator Cynthia Lummis Appointed as Chairman of the Senate Digital Asset Banking Subcommittee, the first U.S. oversight body dedicated to digital assets. The primary goal of the position is to assist in creating a clear regulatory framework for digital assets. This appears to be a win for the crypto community, as Lummis has been one of the most outspoken advocates of strategic Bitcoin reserves.

4. The U.S. SEC revokes SAB 121

The U.S. SEC has revoked SAB 121, which requires companies to hold digital assets as both assets and liabilities.

Now banks will be encouraged to adopt digital assets and keep them on their balance sheets. This may have a greater impact than the U.S. BTC strategic reserve.

5. The US SEC established a new cryptocurrency working group

US SEC Acting Chairman Mark Uyeda announced that he would set up a cryptocurrency working group to develop a clear regulatory framework for crypto assets. The announcement noted that the SEC "mainly relies on law enforcement actions to regulate cryptocurrencies," but is now taking a different approach to create a more collaborative environment. The working group will be led by Hester Peirce, an SEC commissioner appointed by Donald Trump, who will assist in developing a regulatory framework for the cryptocurrency field.

6. Trump pardons Silk Road founder

Trump fulfilled his promise and pardoned Silk Road founder Ross Ulbricht, who was sentenced to life imprisonment without parole.

Ross Ulbricht later tweeted his gratitude to Trump for releasing him after 11 years in prison.

7. Federal court overturns sanctions on Tornado Cash

A federal court in Texas ruled that the U.S. Treasury Department's sanctions on Tornado Cash crossed the line. The court held that the International Emergency Economic Powers Act could not authorize Tornado Cash's smart contracts because smart contracts cannot be owned. 8. Trump revokes Biden's AI executive order Biden signed an executive order on artificial intelligence that was intended to address public safety issues that some in the AI ​​community believe are too restrictive. Trump believes that this executive order restricts the development of the AI ​​industry, prompting him to sign this executive order to "strengthen America's AI leadership." 9. Stargate Project President Trump announced that he would invest $500 billion in AI companies within the United States over 4 years. Some of the AI ​​companies participating in the plan include OpenAI, Oracle, and SoftBank. The first phase of the plan will focus on building data centers in Texas. As the AI ​​craze continues to spread in the crypto space, this development may further promote synergies here. 10. Trump Family Memecoin Trump tweeted on Twitter on January 18, announcing the launch of his memecoin. While many users initially believed his account had been hacked, people soon began to realize that this was indeed true.

The FDV of the TRUMP token peaked at approximately $72 billion, with 80% of the token supply held in a single wallet under the vesting schedule.

The price of TRUMP fell sharply after First Lady Melania Trump announced the launch of her memecoin MELANIA.

Since then, the prices of both tokens have stabilized, with TRUMP's FDV at $30 billion and MELANIA at $2.5 billion.