Crypto gains prompt interest in Trump investment after the financing campaign

Cryptomatic executives, companies, and investors have earned early returns in Donald Trump.

After pouring tens of millions of dollars in the 2024 campaign for President Trump, Crypto Industry was repaid in the first week of the White House.

“I don’t think they could not imagine the better results than the past 48 hours,” the benchmark Bill Girly is known in an early bet. UberOn Friday, he talked to the CNBC’s “Crozing Bell”. Girly said that Tech’s new influence in Washington may be harmful to some of the world of startups, but “is clearly good for encryption.”

The support for the industry to cards is the promise of the Republican leader who will alleviate investment in cryptocurrencies and to develop new types of payment technologies that are advantageous for those who want to develop new types of payment technologies. It was built based on.

Like a heavyweight in the industry Coin base CEO’s Brian Armstrong and Vinnance’s CEO Richard Ten praise the beginning of the new era.

“You need to remember it. For the past four years, we felt that we were being attacked by this administration,” said Armstrong in Davos, Switzerland. I talked. Armstrong criticized the Biden White House as “trying to weapons of the lack of clarity of the rules”, and even companies trying to help.

“There were some bad actors to be fair,” said Armstrong. “But they even tried to chase a good actor like us.” The coin base was one of the major corporate donors in the 2024 election cycle.

Bitcoin On Monday, a record high of about $ 109,000 was recorded and hovered nearly $ 105,000 by the weekend. It has increased by more than 50 % since winning Trump’s election in early November.

The 48 -hour stretch that Girly referred to includes the Presidential Ordinance signed by Trump on Thursday to promote the adoption of digital assets in the United States.

Trump has called for the Ministry of Finance, the SEC, and the Product Future Transactions Committee to evaluate the possibility of stockpiling the government seized by the government.

This order protects Bitcoin miners and software developers from what the president calls “persecution”, and promotes stubcoin that imposed US dollars while banning digital dollars from the federal preparation system. We have overvised important priority.

David Sacks, a venture capitalist who tapped Trump when Trump became White House AI and Crypto Czar, joined the OVAL office president to sign the order.

In the latter half of Thursday, the SEC made a groundbreaking announcement and forced banks to treat bitcoin and other tokens as responsibility for the balance sheet, making it more difficult to adopt the cryptocation of the institution. Withdrawal.

The rules known as SAB 121 were introduced in 2022 and exposed digital assets to strict capital requirements. In addition, it caused the risk of financial and regulations to provide crypto protection services, and raised the cost of financial institutions.

Efforts to overturn SAB 121 gained a supervised support last year. However, President Biden at the time refused the proposed law, left the rules as it was, further prevented the banks from adopting digital assets beyond the derivatives, and making funds traded on exchanges into asset management clients. We provided.

This movement was celebrated on Tuesday by Hester Perth, a Second Commissioner, which was tapped to lead a new “Crypto Task Force” in Agency.

“Goodbye, goodbye Sab 121! It wasn’t interesting,” she wrote in X’s post.

Before the SEC announcement, David Solomon, the CEO of Goldman Sachs, would reconsider the problem if the bank could not own a bitcoin from the CNBC of Davos, from the perspective of the regulatory authorities, and if the rules were changed. I talked. With Morgan Stanley CEO Bank of America President Trump’s professional clipotone also stated that it could reconstruct plans and expand digital products.

A few days ago, Gary Gensler resigned from the role of a SEC chair. Genceler, which emerged as an enemy of the encryption industry, defended the rules necessary to protect investors in the event of a bankruptcy at a cipher agency. Gensler’s success to Gensler’s success is Paul Atkins, a former SEC commissioner, who is currently the CEO of Patomak Global Partners.

When the president came at the beginning of the week and took a very different form, Trump nodded to the encryption industry first.

On Tuesday, the second day of his inauguration, Trump gave a complete pardon to Silk Road founder, Los Wolblicht. The 40 -year -old ULBRICHT was convicted in the Federal Court in seven accusations of drug distribution and computer hacking commitment, and since 2015, he has been sentenced to life without parole since 2015.

Silk Road is operated from 2011 to 2013 and functions as a dark web marketplace that users purchased and sold a mix of smuggling, including illegal drugs like heroin. According to the Federal Prosecutor, the platform promoted more than $ 200 million sales and was linked to at least six deaths.

At the peak, the Silk Road is a global drag bazaar, and the transaction is mainly used in bitcoin, one of the largest application of cryptocurrencies. Prosecutors later argued that the anonymity given by Bitcoin would help hide the identity in the Silk Road vendor.

Wolblicht became a crypto community culture, and the “free loss” movement has been resonated with conservative media personality and politicians.

“I made a call to Los William Wolblicht’s mother and informed her that she strongly supported me in honor of her and Liberatarian movement. Trump wrote on Tuesday’s true social post. 。

Changpeng Zhao, a former billionaire co -founder and former CEO of Binance, commented on X after the pardon was announced. Zhao was sentenced to four months in April after acknowledging for being guilty of enabling money laundering in cryptography.

Not all of the past weeks of Trump’s actions have been universally praised by the encryption industry.

The most prominent is that the president is playing in some of the famous markets for fraud. Last weekend, Kryptor’s leader, Trump’s family and inner circle members had a party in Washington’s crypto ball, but the $ Trump’s Memcoin was take off online.

After that, $ melania coin appeared. Overall, the Trump family earned billions of dollars on paper for ownership of assets generated from thin air. Cryptom enthusiasts are worried that Trump is a tremendous sign of Trump’s true intentions, which is damaging the reliability of the industry that is trying to prove its legitimacy.

“I call me old -fashioned, but I think the president should focus on not launching a fraudulent token,” says Nic Charter of Castle Island Ventures.

The $ Trump website says that 80 % of the supply is retained by Trump organizations and affiliates.

There are also objections to the Diet.

Senator Elizabeth Warren and Massachusetts Democratic member Jake Orchinkoros, a member of the Democratic Party of Massachusetts, have raised the first couple who uses their position to concentrate, along with the possibility of “Ragpar” fraud.

“We have a deep concern that President Trump and Melania Trump will launch two Meram Coin, $ Trump and $ melania. .Com. These coins are higher speed. This is not a more affordable coin for consumers.

The $ Trump is currently trading for less than $ 30 and has fallen by more than 50 % from the peak immediately after the launch. The $ Melania token has dropped more than 80 % from the high price and is currently below $ 2.50.

The Mes’ coins are subject to the best schedule for multiple years, so that most of the tokens cannot be settled at once. Formerly coinbase executive, Crypto analyst CONOR Grogan, without selling tokens, estimates that Trump Team created $ 58 million on the first day.

Sorry is not limited to the coins of Mys.

Thursday Trump’s presidential order has led to the President starting to purchase bitcoin directly in the United States and provided it as a protected area.

Prior to the order, Binance’s CEO RICHARD TENG hoped that the United States would establish a strategic bitcoin reserve in Davos’s CNBC. Circle CEO’s Jeremy Allaire called “caution” by the central bank to keep the Bitcoin reserves.

Trump has made an idea on the campaign trail, but the US Bitcoin Reserve suggests that it may be backed by ciphered assets seized from hackers and fraudulent rings.

However, with his 1,300 presidential order on Thursday, Trump did not just seek Bitcoin spare. The word bitcoin was not found anywhere.

-CNBC’s Ryan Browne has contributed to this report.