After taking office, what actions has Trump taken to benefit the crypto community?

Author: Grapefruit, ChainCatcher

Donald Trump deserves to be the most eye-catching president. On the eve of taking office, the TRUMP coin of the same name issued by Trump reached a market value of hundreds of billions of dollars in just 2 days, sparking a nationwide frenzy and making a lot of money in the crypto circle. traffic and attention.

On the day he took office, he signed a number of executive orders that attracted widespread attention in the crypto market and were used to verify the president's commitment to the crypto community during the campaign.

As of January 22, his first day in office, what actions has Trump released that are good for crypto?

• The dismissal of SEC Chairman Gray Gensler and the appointment of crypto-friendly Uyeda as SEC Acting Chairman is seen as a turning point in cryptocurrency regulation;
• Musk’s efficiency department DOGE was approved, and the official website changed its logo to the Dogecoin avatar, causing the DOGE currency to rise by more than 15% in a short period of time;
• SoftBank, OpenAI and Oracle invested 500 billion in infrastructure to support the development of artificial intelligence (AI) in the United States, driving a collective rise in crypto AI sector assets;
• The acquittal of Silk Road founder Ross Ulbricht, the founder of the dark web who was "sentenced to life + 40 years in prison", triggered a tribute to the liberalism advocated by Bitcoin;

1. **SEC Acting Chairman Uyeda took office and established a

cryptocurrency task force to formulate a regulatory framework**

On January 21, the new appointment documents released by the White House showed that current SEC member Mark Uyeda (Uyeda for short) was officially appointed as acting chairman of the SEC, and will temporarily lead the work of the agency before the new SEC chairman officially takes office. Former SEC Chairman Gary Gensler resigned on the day Trump took office.

As early as December 5, 2024, Trump publicly stated that he had selected former SEC member Paul Atkins as the official chairman of the SEC agency. However, this appointment needs to wait for a vote in the Senate, which may take several months.

Uyeda is a member of the Republican Party and has worked in the SEC for 15 years. He will serve as an SEC commissioner from June 30, 2022. Uyeda has always had a friendly stance when it comes to cryptocurrencies, voting crucially in favor of the approval of a Bitcoin spot ETF last year.

In an interview with FOX Business in October last year, Uyeda said he would help Trump fulfill his promise to end the so-called “cryptocurrency war” of the Biden administration. Trump is fulfilling the promises he made to the cryptocurrency community during his campaign.

On the day he took office, Uyeda announced the establishment of a cryptocurrency task force, led by current SEC committee member Hester Peirce, who is committed to developing a comprehensive and clear regulatory framework for cryptocurrency assets.

Hester Peirce is known as a defender of cryptocurrencies and blockchain technology and is known as the Crypto Mom. She and Uyeda have jointly opposed multiple legal actions initiated by former SEC Chairman Gensler against encryption companies.

Paul Atkins, Trump’s nominee for formal SEC chairman and a former subordinate of Peirce and Uyeda, has made relatively few clear public statements on cryptocurrencies but has advocated for less restrictive regulation of emerging technologies such as cryptocurrencies and blockchain. frame. Judging from his past work resume and potential attitude, Atkins’ attitude should also be biased towards supporting cryptocurrency.

Therefore, the cryptocurrency regulatory framework rules formulated by the Cryptocurrency Working Group led by Uyeda will reverse former SEC Chairman Gary Gensler’s severe crackdown on cryptocurrencies, and is likely to be a loose policy that is more conducive to the development of the crypto industry.

On January 24, the US SEC will hold its first closed-door meeting since Uyeda took over as acting chairman. The content of the meeting will include initiating and resolving ban actions.

2. The DOGE avatar appeared on the DOGE website **run by

Musk** , driving DOGE to rise by more than 15% in a short period of time.

On January 22, Trump signed an executive order announcing the establishment of the Department of Government Efficiency (DOGE), headed by Elon Musk. Because the name of this department has the same name as the DOGE coin that Musk has publicly supported many times, it was paid attention to by the crypto market when it was founded. Every time this department takes action, it will trigger the short-term market price of Dogecoin.

On the evening of January 21, a logo with the Dogecoin avatar logo appeared on the DOGE official website, which quickly attracted the attention of the crypto community and caused the DOGE token to rise by more than 15% in a short period of time, and has now fallen back to $0.36. .

This morning, the official website of DOGE, the U.S. government efficiency department, changed its logo and no longer uses the Dogecoin logo, but changed from Dogecoin to a dog, still retaining the Shiba Inu element.

As of press time, the official website of DOGE, the U.S. government efficiency department, no longer has any relevant logos.

In addition, early this morning, Musk said in a public speech that he would take Dogecoin DOGE to Mars, but the market did not give any reaction.

3. **SoftBank and three other companies invested US$500 billion in US

AI, driving a collective rise in assets in the crypto AI sector**

At Trump’s inauguration event, Masayoshi Son of Japan’s SoftBank Group stated that it would invest 500 billion with OpenAI and Oracle to support the development of artificial intelligence (AI) infrastructure in the United States.

Trump said that the three companies have joined forces to create a project called "Stargate" and plan to build data centers in the United States to support the development of AI. This is the "largest" AI infrastructure investment project in history.

Analysts say this could usher in a massive wave of AI investment in the United States. There may be $2 trillion in AI-related capital expenditures over the next three years to meet business and consumer needs. More software companies may join the artificial intelligence camp, and the enterprise consumption stage may start in 2025.

"AI and cryptocurrency" are regarded as two major areas that Trump has focused on after taking office. After the news was released, the assets in the crypto AI sector triggered a collective rise. AI sector concept coins such as AI16Z, GRIFFAIN, and VIRTUAL all increased by more than 30% in 24 hours. %above.

4. **Silk Road founder Ross, who was "sentenced to life imprisonment

• 40 years in prison", was pardoned**

On January 22, Ross Ulbricht (Ross for short), the founder of the dark web Silk Road (Silk Road), who had served 11 years in prison, was acquitted. This morning, Trump announced that he had signed Ross Ulbricht’s pardon. That afternoon Bitcoin Magazine published photos of Ross Ulbricht being released.

"Silk Road", founded in 2011, is a well-known online black market trading platform that supports users to anonymously purchase and sell various goods using cryptocurrencies such as Bitcoin. This is also the first specific application scenario of Bitcoin as a payment tool. Therefore, founder Ross is also regarded as an extremely important figure in the history of Bitcoin development. .

In 2013, Silk Road was seized by the FBI and founder Ross was arrested and charged with money laundering, conspiracy to traffic drugs and other crimes. He was eventually sentenced to life imprisonment plus 40 years in prison without the possibility of bail.

To the cryptocurrency world, Ross Ulbricht represents the early idealism of Bitcoin: a decentralized, free and trustless system. In the 11 years since Ross has been in prison, many in the crypto industry and beyond have viewed his incarceration as a blow to the vision of cyber autonomy, and organizations have been campaigning for widespread support for clemency, arguing that it deserves a second. Chance. More than 600,000 people signed a petition to release Ross, including Trump and Ethereum founder Vitalik Buterin.

In order to rescue Ross, the encryption community also organized the FreeRossDAO organization voluntarily. Please note that the FreeRossDAO organization has now suspended operations.

In his speeches during the 2024 campaign and at the Bitcoin 2024 conference, Trump promised to reduce Ross Ulbricht’s sentence if elected. In the betting topic on PolyMarket on "Who will Trump pardon in his first 100 days?", the probability of Ross being pardoned has been higher than 70% for a long time.

Today, Ross was acquitted, which not only shows Trump’s commitment to the encryption community, but also supports the liberalism represented by Bitcoin.