How did Donald Trump deal with crypto during his first term?
Donald Trump is set to be inaugurated for a second term as US President on January 20, with expectations of a different approach to digital assets compared to his first term. During his initial campaign in 2016, Trump did not mention cryptocurrency. Bitcoin's price rose from approximately $700 at his election to over $36,000 by January 2021. In 2019, Trump publicly expressed his disapproval of Bitcoin, stating it was "based on thin air." His administration took a regulatory stance against crypto, with significant enforcement actions led by the SEC. After leaving office, Trump continued to criticize Bitcoin, labeling it a "scam." He later launched NFT trading cards in December 2022 and announced his 2024 presidential run. Trump did not pardon Silk Road founder Ross Ulbricht during his presidency but promised to commute Ulbricht's sentence if elected again.
