Trump’s Crypto Initiative: A New Day or a Illusion?
While President Donald Trump is stepping up as an ally of cryptocurrency, the market remains divided—some envision promise, others an impending catastrophe.
Kevin O’Leary’s Perspective: A New Era for Crypto?
Investor Kevin O’Leary has voiced strong support for Trump’s crypto policies, arguing that they mark a new phase for digital assets in the U.S. Speaking on My View with Lara Trump, O’Leary stated, “All the crypto cowboys are in jail or out of business. So now we’re in a new phase.”
The billionaire investor himself made losses during the infamous collapse of FTX believes that the Trump administration will restore much-needed stability. Since regulatory uncertainty plagued crypto for decades, O’Leary finds Trump’s stand to be a game-changer.
The Dark Side of Crypto’s ‘New Phase’
But, in spite of O’Leary’s optimism, scams still dominate crypto. Rug pulls, hacking, and insider manipulation remain the modus operandi. Critics have argued that Trump’s endorsement of crypto benefits the political insiders at best, far from giving the long-term security of regular investors.
Trump’s Strategic Bitcoin Reserve: A Game Changer?
Trump signed an executive order building a Strategic Bitcoin Reserve that includes some cryptocurrencies—XRP, SOL, and ADA—among government-supported assets. His followers see it as a major step toward mainstream acceptance, but its validity has been called into question by doubters.
Meanwhile, the SEC’s hard line against Binance and Coinbase appears to be losing steam, fueling rumors that only those businesses approved by Trump will remain.
Critics Sound the Alarm
Crypto journalist Zack Guzmán warns that Trump’s participation puts the industry’s credibility at risk. “Crypto is at an existential moment… Trump has grifted in every way to make money,” he posted on Jan. 18. Others, like former White House Communications Director Anthony Scaramucci, refer to Trump’s approach as “Idi Amin-level corruption.”.
Trump’s official memecoin launch has also drawn scorn. The coin initially skyrocketed 10,000% before plummeting more than 84%. Most interpret this as evidence of opportunistic market manipulation.
O’Leary Undeterred
Despite widespread skepticism, O’Leary is still convinced Trump’s policies will make crypto mainstream like no administration ever has. “This will be the first administration that says this industry belongs in America,” he insists.
But whether Trump’s promises translate into real regulatory transparency or are simply political theater remains to be seen. Meanwhile, the world of cryptocurrency observes with equal measures of hope and deep skepticism.
