Wall Street Sets Sights on Donald Trump's Crypto Policies Amid Memecoin Frenzy

Highlights

Wall Street giants focus on Trump's crypto policies rather than the TRUMP memecoin's wild ride.
Financial experts hope that Trump's crypto policies could make their entry into crypto space easier.
The companies highlight the need for clear regulations, especially for crypto custody.

As Donald Trump, who claims to be the “crypto president,” begins his second term, the industry anticipates revolutionary changes in the US crypto ecosystem. Wall Street giants expect Trump’s crypto policies will facilitate easy crypto investments, benefitting behemoths like JPMorgan Chase & Co. and BlackRock Inc. However, financial firms fear the President’s TRUMP memecoin could have unintended consequences for his potential crypto policies.

While the TRUMP meme coin is grabbing headlines, Wall Street companies are shifting their focus to Donald Trump’s crypto policies. Leaders who once doubted the crypto industry, viewing it as plagued by scams and fraud, are now exploring opportunities in the space.

Wall Street Giants Exploring Crypto Opportunities

According to a Bloomberg report, Wall Street executives discussed potential opportunities in the crypto sector at the World Economic Forum 2025 in Davos, Switzerland. Jenny Johnson, the CEO of Franklin Templeton Investments, stated, “I think that the thing with the Trump administration is we’re going to start to see them converge more the Tradfi and the crypto, which is something that we need.”

However, Wall Street firms highlighted the significance of regulatory clarity, especially for the custody of crypto assets. State Street Corp CEO Ron O’Hanley stated that the potential changes in the accounting rules could make it easier for banks to hold cryptocurrencies.

This discussion comes following the increasing urge for crypto regulations amid the recent memecoin frenzy. Experts like John Deaton and Bill Morgan emphasized that urgent regulatory reforms are necessary, particularly in the uncharted territory of memecoins.

Financial Leaders Highlight Memecoin Controversy

At the meeting, financial companies posited that the recent memecoin spree has significantly impacted Trump’s crypto policies. This statement is particularly noteworthy given Trump’s silence on crypto matters on his initial day.

Notably, TD Cowen analyst Jaret Seiberg stated that the TRUMP memecoin’s wild ride could hinder efforts to pass digital-asset legislation through Congress. Seiberg added that the controversy surrounding the token could strengthen Democratic opposition, making it more challenging for lawmakers to reach a bipartisan agreement on the crypto market structure bill. The companies see it as as one of the major hindrances to their easy exploration of the crypto space.

Further, Seiberg narrated the potential implications of the memecoin’s price surge, stating,

Democrats are going to demand details on who bought the coins and what is responsible for the increase in price. They will be searching for indications that foreign governments, foreign businesses and domestic companies are using the coin to influence Trump’s decision-making.

TRUMP Token’s Market Volatility in Focus

Donald Trump’s TRUMP token created ripples in the crypto market with its sudden rise and subsequent fall. Within three hours of launch, the token reached $8 billion, boosting investor confidence.

After reaching a high of $73, the token dipped to a low of $31. However, over the past 24 hours, TRUMP has gained a notable 5.7%, currently trading at $44.28.

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Nynu V Jamal

Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape. Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master's degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet. Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn

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