NewsletterPresident Donald Trump’s Administration Fails To Mention Crypto As Top Priority: Details
Highlights
- Donald Trump's administration has failed mention crypto as a top priority in a document sent to Republican lawmakers.
- The US president also failed to mention crypto in his inauguration speech.
- The Bitcoin price has dropped following these developments.
Pro-crypto Donald Trump’s administration has hit the ground running by outlining the top priorities as the pro-crypto President takes office. Interstingly, there is no mention of crypto in no mention of crypto as a top priority in the document sent to Republican lawmakers.
Donald Trump’s Administration Fails To Mention Crypto As Top Priority
As seen in a Punchbowl News report, Donald Trump’s administration failed to mention crypto as a top priority in a recent document sent to Republican lawmakers.
This has come as a surprise to members of the crypto community, considering the crypto promises that the pro-crypto president had made prior to his election victory in November last year.
This includes his promise to create a Strategic Bitcoin Reserve once he takes office. Trump had also promised to free Silk Road founder Ross Ulbricht on his first day in office. Meanwhile, there was also the belief that the pro-crypto president would immediately address issues regarding Operation Chokepoint.
Donald Trump also failed to mention anything regarding crypto during his first address as president following his Presidential inauguration today at the Capitol Rotunda.
This development has raised concerns among crypto investors, who were bullish on the market due to pro-crypto policies, which Trump was expected to announce immediately after taking office.
Coingape had reported that the pro-crypto president had planned to make crypto a national priority starting today. There was also a report that Trump’s government will greenlight crypto trading for banks.
Bitcoin Price Declines
The Bitcoin price dropped to as low as $100,000 following these developments, which has sparked a bearish sentiment among crypto investors.
Coinglass data shows that there has been over $200 million in liquidations from the crypto market in the last few hours following Donald Trump’s inauguration. Long traders have suffered the most loss, with over $144 million in long positions liquidated.
However, despite Trump’s failure to mention crypto as a top priority to lawmakers or in his inaugural speech, a positive is the fact that the president’s World Liberty Financial bought $4.7 million worth of Bitcoin. CoinGape also reported that the DeFi project recently invested millions of dollars in ETH, TRX, AAVE, LINK, and ENA.
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