Crypto Execs Remain Upbeat Even As Bitcoin Plunges 5.3% After Trump Inauguration Speech Ignores Industry

Crypto industry executives and investors are remaining positive even after Bitcoin plunged 5.3% after Donald Trump failed to mention crypto during his inauguration speech yesterday.

On his first day as the 47th President of the United States, Trump signed numerous executive orders, but none mentioned crypto assets or related policies.

The overall crypto market cap has dropped 6.8% in the past 24 hours, according to CoinGecko . Trump family meme coins $TRUMP and $MELANIA led meme coin losers with drops of 21% and 51%, respectively.

Despite this, many crypto investors and executives are not worried.

“He has already fully expressed his dedication to crypto with his actions all weekend,” said a futures trader known as Satoshi Flipper, who has 225,000 followers. “He’s fully locked in, buying hundreds of millions worth of altcoins, and people out here paranoid the top is in because Trump didn’t say ‘Bitcoin’ today.”

Some ”Freaking Out” Because Donald Trump Didn’t Do Anything For Crypto

Reflexivity Research co-founder Will Clemente shared on X that some are “freaking out because Trump didn’t do anything with regard to crypto on the first day he got sworn in.”

“We live in such a bubble. Pro-crypto regulations are coming,” he said.

The optimism among crypto investors is also fueled by the recent announcement of Mark Uyeda and Caroline Pham, the new acting chairs of the Securities and Exchange Commission and Commodity Futures Trading Commission.

A crypto lawyer and Blockchain Association board member, Jake Chervinsky, said: “For the first time ever, the SEC and CFTC are in the hands of leaders who oppose regulation by enforcement and support clear rules of the road for crypto.”

Many think that mentioning Bitcoin or any other crypto in the inaugural speech wouldn’t be an appropriate topic, explaining the reason why Trump didn’t mention it:

“There will be more than enough headlines about it in the coming days and weeks,” asset management and monetary policy commentator “MacroScope” said .

At the World Economic Forum in Davos on January 20th, Circle CEO Jeremy Allaire told Reuters that he expects Congress to take fresh action on crypto regulations.

“We expect Committee work to be very active, literally in the coming weeks,” he said.

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