Trump uses crypto for own benefit but does release Ross Ulbricht

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Last Updated on 22 January 2025 by CryptoTips.eu

The first day of Donald Trump’s presidency is over and crypto fans are a bit surprised that none of those first day Executive Orders were about the creation of a strategic Bitcoin reserve. According to Arthur Hayes, Trump simply won’t do that. Luckily he did release Ross Ulbricht, founder of the legendary Silk Road site.

Meanwhile the liberal media in the United States calculated how much Trump already earned from the launch of his own memecoins ($Trump and $Melania), which have lost a lot of value since the weekend.

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Strategic Bitcoin Reserve

The new American President Donald Trump signed many executive orders on day one, but an order to create a strategic Bitcoin reserve was not among them. Crypto billionaire Arthur Hayes, who was just about the best Bitcoin trend forecaster last year, doesn’t believe we’ll get one anyway

“I don’t think Trump will get around to doing a bitcoin reserve,” Hayes, the co-founder and former CEO of BitMEX, said. “At the end of the day, I don’t know how borrowing money to buy bitcoin helps on any of Trump’s platforms.”

Memecoins

According to The Atlantic and Axios, crypto fans have had enough of Donald Trump after just one day simply because he did not mention Bitcoin in his speech.

That seems a bit too far-fetched to me, but it is clear that crypto fans were not really happy with the fact that the Trump family launched two memecoins ($Trump) and ($Melania) this weekend, which have since fallen sharply in value.

Both have the typical memecoin graph of a quick ‘rug pull’ so far.

A quick calculation by Axios (which was also mentioned by Cardano founder Charles Hoskinson) shows that Trump made billions of dollars from the meteoric rise of his memecoin this weekend. Meanwhile, the Financial Times has another theory about $Trump. According to them, it is simply a way to measure the popularity of his presidency.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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