The policy dividend has not yet arrived, and the market value has fallen by 800 billion: Analysis of Trumps 100-day encr

Original title: Crypto experts score Trumps first 100 days: More symbolic than substantial

Original source: DL News

Original translation: BitpushNews

Since Trump took office as US President, it has been a mess for various industries. As he celebrates the 100th day of his second term in office, supporters of digital assets are also beginning to examine what Trumps administration means for the industry.

Mateusz Kara, CEO of تشفيرcurrency company Ari 10, told DL News that the question is Do we overestimate what Trump can do?

In last years U.S. election, the cryptocurrency industry supported Trump, hoping that he would end the Biden administrations cryptocurrency crackdown, promote rules that favor the industry and start a bull run. Although some rules have been relaxed, the White Houses trade war has caused the global cryptocurrency market value to shrink by nearly 21%, or about $800 billion, since its high in December last year.

Bitcoin is down more than 10% from its level on Jan. 20, the day before Trump’s inauguration, when it hit an all-time high of $109,225. Earlier this month, بيتكوين was hit along with other risk assets by tariff concerns, falling below $74,500 on April 7 before rebounding to around $94,500 as of this writing, according to Dow Jones سوق Data.

So, which promises has Trump delivered on so far, and where does that leave the industry?

The “Cryptocurrency War” in the Biden Era

Former U.S. President Joe Biden, a harsh critic of cryptocurrencies, pushed for strict regulation of the industry and supported a crypto crackdown initiated by then-Securities and تبادل Commission (SEC) Chairman Gary Gensler.

During the campaign, Trump promised to end Bidens cryptocurrency war. After taking office, Trump replaced Gensler with a new pro-cryptocurrency chairman, Paul Atkins, who promised to bring clarity to cryptocurrency regulation. This year, the SEC dropped lawsuits against cryptocurrency companies including Coinbase, Ripple and Kraken.

Trump also appointed industry stalwarts like Howard Lutnick, the financial mogul who backed Tether, as commerce secretary and David Sacks as cryptocurrency czar. In his first 100 days in office, Trump issued a series of sweeping orders banning the creation of a digital dollar, protecting self-custody, establishing an advisory group on regulating cryptocurrencies, and establishing a strategic Bitcoin reserve.

He also pardoned Silk Road founder Ross Ulbricht and hosted the first White House cryptocurrency summit.This year, federal regulators rescinded several Biden-era cryptocurrency مرشدlines, paving the way for financial institutions to move into cryptocurrency services.

Symbolic meaning > actual benefits?

In short, Trump appears to have delivered on most of his cryptocurrency promises. So why are some market observers unhappy?

“So far, many of the campaign promises seem to be more symbolic than substantive,” Jonathan Dixon, an executive at regulatory technology company eflow Global, told DL News.

“Bitcoin Reserve is essentially a rebranding — these assets have long been held by the government and are not a sign of active participation in the market.” Dixon said that while Trump’s move marks a “rhetorical shift from the previous administration,” “rhetoric alone does not translate into regulatory certainty.”

The Trump administration has yet to push for new laws, but some are advancing on Capitol Hill. “We’re well on our way,” Sen. Tim Scott, R-South Carolina, said in early April.

Eric Rose, executive director of digital assets at StoneX Digital, noted: “These are all very positive factors for the space, but they take time to prove themselves… Just because banks are allowed to participate in the digital asset space, it doesn’t mean they can get in tomorrow, right? They need time to develop a strategy, decide where they want to go, how to implement that strategy, and hire the right people for it.”

Eric Rose told Market Watch that this could take up to two years to prepare.

trade war

The market may be disappointed with Trumps administration because we are not seeing rising data. This is the result of the delay in cutting interest rates and the chaos Trump has brought to the market, said Mateusz Kara, CEO of Ari 10. Trump has so far failed to fulfill his promise to cut interest rates, and the Feds rate cut is seen as a catalyst for risky assets such as cryptocurrencies and stocks.

That’s one reason why Bitcoin surged when the central bank cut rates in September and November. The problem is that the Fed operates independently of the White House, and Fed Chairman Jerome Powell is reluctant to cut rates, especially after Trump imposed sweeping tariffs on nearly 100 countries (including an island nation where most of the inhabitants are “penguins”) and made America’s financial future even more uncertain.

The overall cryptocurrency market recovered slightly after Trump stopped these tariffs, but any hostile actions could offset this effect. Anthony Young, chief commercial officer of cryptocurrency risk management company CoinCover, said: The US governments trade war will inevitably affect the cryptocurrency industry, and the focus will be on whether cryptocurrencies can continue to act as a hedge against global market behavior.

Some believe that Trump’s trade war could be good for cryptocurrencies. Papuna Lezhava, CEO and co-founder of fintech startup Keepz and former advisor to the International Monetary Fund, said: “Trump’s foreign trade policies may actually make cryptocurrencies more attractive to those who want to avoid the traditional financial system or government control of currency.”

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