The crypto community reacts as President Donald Trump fails to sign a single executive order on cryptocurrency on his first day in office.
President Donald Trump signed a flurry of executive orders on his first day in office, targeting immigration, energy, and federal operations. However, the crypto industry was conspicuously absent from the agenda.
For context, President Trump focused on reversing key policies from the previous administration. His executive orders included immigration reforms, energy policy changes, and directives to restructure government operations, but crypto was largely ignored.
Trump’s Omission of Crypto Sparks Reactions
This omission surprised several proponents in the crypto community, especially after speculation that the sector might receive early attention from the new administration.
Before the inauguration, rumors circulated that Trump might take bold steps regarding cryptocurrency. Suggestions included declaring crypto a national priority, establishing a Bitcoin reserve, or pardoning Silk Road founder Ross Ulbricht, currently serving a life sentence.
However, it appears none of these expectations materialized. In addition to this, during his inaugural speech, Trump did not address cryptocurrency, leaving some advocates concerned.
Notably, prominent FOX Business journalist Eleanor Terrett called the public’s attention to the recent development, noting the lack of crypto orders or pardons. “No Day 1 executive orders on #crypto or industry-related pardons, then?” she said on X.
No Day 1 executive orders on #crypto or industry-related pardons, then?
— Eleanor Terrett (@EleanorTerrett) January 21, 2025
In response, one enthusiast pointed out the sizable financial contributions from the crypto industry, criticizing the absence of acknowledgment.
Notably, In addition to donations to his campaign, Trump also received $10 million collectively from crypto firms Ripple, Circle, Coinbase, Robinhood and Kraken for his inauguration. Nate, a Bitcoin enthusiast, also expressed disappointment, accusing Trump of breaking promises.
Some Remain Hopeful
However, despite the absence of crypto-related executive orders on day 1, some proponents remain optimistic. An XRP proponent suggested that larger priorities might have taken precedence and urged patience, expressing optimism for future developments.
Interestingly, as the concerns mounted, Tesla CEO Elon Musk responded on X, reassuring the public that Ross Ulbricht would eventually gain freedom.
Ross will be freed too
— Elon Musk (@elonmusk) January 21, 2025
Crypto pundit Max Brown called attention to the fact that the Trump-inspired project World Liberty Finance invested heavily in crypto on the inauguration day, which could signal continued interest in the industry.
For context, WLFI purchased $112.8 million worth of Bitcoin (BTC), Ethereum (ETH), Aave (AAVE), Chainlink (LINK), and others, to commemorate Trump’s inauguration. Citing this, Brown advised the community to remain patient, predicting massive developments ahead.
Trump didn’t sign a crypto executive
order the first day but he have bought
nearly $200 Million worth of Bitcoin, $ETH, $LINK and other coins.Big things are coming. Patience.
— Max Brown (@MaxBrownBTC) January 21, 2025
Meanwhile, a Reuters report suggested that Circle CEO Jeremy Allaire is confident President Trump would soon sign an executive order enabling banks to trade, hold, and offer crypto investments.
