Trump’s Crypto Revolution: Promises Kept And Controversies Ignited
Since returning to office in January 2025, President Donald Trump has boldly pursued a pro-cryptocurrency agenda, fulfilling numerous campaign promises aimed at reshaping America's digital asset landscape. While supporters herald these achievements as revolutionary, critics have raised serious concerns about potential conflicts of interest, regulatory gaps, and long-term economic risks.
I reviewed Trump's top 10 crypto and blockchain promises, their outcomes, and the key controversies that have emerged.
Trump’s Top 10 Crypto and Blockchain Promises
1. Strategic Bitcoin Reserve For Crypto – Fulfilled
In a landmark move, President Trump signed an executive order establishing the Strategic Bitcoin Reserve, utilizing approximately 200,000 bitcoins seized from previous federal operations. These holdings primarily originate from high-profile cases, including the Bitfinex exchange hack, the Silk Road darknet marketplace, and recoveries linked to the James Zhong case.
Modeled as a "digital Fort Knox," this reserve aims to enhance national financial security by holding Bitcoin as a strategic national asset. This decision underscores Trump's ambition to solidify America's leadership in digital finance.
2. Fire SEC Chair Gary Gensler – Fulfilled
Responding to intense lobbying from the crypto industry, Trump swiftly replaced SEC Chair Gary Gensler—seen by many as adversarial to crypto interests—with Paul S. Atkins, a former SEC commissioner and crypto advocate.
Atkins' appointment signaled a clear pivot toward crypto-friendly regulation, promising more favorable treatment for digital assets in the future.
Other Promises Fulfilled
3. Nullify IRS DeFi Broker Rule – Fulfilled
Trump repealed an IRS rule that had expanded broker definitions to include decentralized finance (DeFi) platforms, significantly reducing the tax reporting burden on these entities.
The repeal, however, ignited criticism over potential increases in tax evasion and less transparent financial practices.
Controversies Sparked by Trump’s Crypto Agenda
1. Conflicts of Interest and the $TRUMP Memecoin
One of the most contentious developments is the $TRUMP memecoin, championed by entities closely associated with the Trump family, alongside the high-profile launch of Melania Trump's own cryptocurrency, the MELANIA coin.
Critics accuse the administration of conflicts of interest, arguing these private financial gains conflict with Trump's public role.
More Controversies
2. Regulatory Rollbacks and Enforcement Gaps
Trump's extensive deregulation, notably disbanding the DOJ's crypto enforcement unit, has generated significant controversy.
Opponents argue reduced oversight invites increased money laundering, fraud, and illicit transactions, potentially compromising market integrity and investor protection.
Even More Controversies
3. Trump Family’s Expanding Crypto Footprint
The Trump family's deepening involvement in cryptocurrency ventures—including stablecoins, mining investments, and financial products—raises profound ethical questions.
Critics allege these activities risk policy manipulation for personal gain, undermining transparency and public trust.
Conclusion
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