As President Donald Trump nears his 100th day in office, his administration’s whirlwind of crypto-focused moves faces sharp criticism. Former White House communications director Anthony Scaramucci labelled Trump’s initial 95 days “the worst in modern presidential history,” citing economic turmoil and erratic policymaking.
Despite pledges to champion blockchain innovation, ethical concerns, trade wars, and market instability have overshadowed progress. Here’s how crypto became a focal point and a lightning rod during this chaotic chapter.
Memecoin Mania Kicks Off Presidential Term
Hours after Trump’s January 20 inauguration, his family-linked firm, World Liberty Financial (WLFI), launched its second memecoin sale. Demand surged briefly, but skepticism followed. The token remains untradable, leaving investors questioning its purpose. Furthermore, critics slammed the move as a conflict of interest, accusing Trump of blending personal ventures with policy. Supporters, however, hailed it as a bold embrace of crypto’s future.
The memecoin debut set the tone for a presidency unafraid to court controversy. Simultaneously, Trump began reshaping federal agencies, installing crypto allies in pivotal roles, a strategy that drew praise and alarm.
Pro-Crypto Appointments
On his first day, Trump replaced SEC Chair Gary Gensler with Paul Atkins, a pro-blockchain lawyer. He also named tech entrepreneur David Sacks as his AI and crypto advisor, signalling a regulatory shift. By April, Brian Quintenz, a crypto advocate, led the CFTC.
These appointments thrilled industry leaders craving clearer rules. On the other hand, watchdogs warned of lax oversight. “Trump’s team seems more interested in pleasing crypto insiders than protecting markets,” argued one Senate aide. The administration fast-tracked a long-delayed regulatory framework, promising clarity by summer.
AI Ambitions and a Divisive Pardon
On January 21, Trump unveiled a $500 billion private-sector AI initiative, “Stargate,” partnering with OpenAI and Oracle. He framed it as a jobs generator and national security safeguard. Critics called it a corporate handout.
That same day, Trump commuted Silk Road founder Ross Ulbricht’s life sentence, fulfilling a campaign vow. Libertarians cheered, calling it a win for privacy rights. Opponents, however, decried the move, arguing it undermined law enforcement. Ulbricht’s release intensified debates over crypto’s role in crime, a tension lingering throughout Trump’s term.
CBDC Ban and Trade Wars Rattle Markets
By January 23, Trump signed an order banning a U.S. digital dollar, calling CBDCs “tools of government overreach.” Instead, he created a crypto task force to position America as a blockchain leader. Privacy advocates applauded; central bankers bristled.
Weeks later, Trump ignited global trade disputes, slapping tariffs on Mexico, Canada, and China. Markets tanked, dragging Bitcoin down 8%. Miners reeled as hardware costs spiked. Though tariffs were later paused, the damage underscored crypto’s vulnerability to macroeconomic shocks. “Declaring trade wars without a strategy is reckless,” Scaramucci said.
Bitcoin Reserves and Backroom Deals
March 7 brought Trump’s “Strategic Bitcoin Reserve,” pooling state-seized crypto. While skeptics dismissed it as symbolic, the move hinted at broader acceptance. Days later, industry titans like Coinbase’s Brian Armstrong attended a White House summit, discussing regulation and innovation.
Not everyone celebrated. Cardano’s Charles Hoskinson criticised the event as “theatre,” stressing that real change requires congressional action. Furthermore, WLFI launched a stablecoin, USD1, backed by U.S. Treasuries. Lawmakers demanded ethics probes, citing Trump’s sway over stablecoin rules.
‘Liberation Day’ Chaos and Impeachment Threats
April 2 saw Trump levy 10% tariffs on all nations taxing U.S. goods, dubbing it “Liberation Day.” Markets plunged, reigniting recession fears. Crypto miners faced soaring costs, squeezing profits. Scaramucci warned of a “medium-sized recession,” blaming Trump’s “reckless” tactics.
Weeks later, rumours swirled that WLFI tokenholders could buy $300,000 dinners with Trump. Georgia Senator Jon Ossoff called for impeachment, citing “blatant corruption.” The White House denied the claims, but scrutiny intensified.
Crypto’s Future Hangs in the Balance
Trump’s 100-day sprint reshaped crypto’s regulatory landscape, blending ambition with chaos. While pro-industry reforms advanced, trade wars and ethical scandals risk derailing progress. The STABLE Act, aiming to regulate stablecoins, now faces uphill battles in a polarised Congress.
“Trump’s inflamed everything, making stablecoin laws harder,” Scaramucci warned. As the administration marches forward, one truth emerges: in crypto, as in politics, volatility reigns supreme.
