Crypto industry received quick returns on Trump investment after putting millions of people in the campaign

Crypto officials, companies and investors are getting their initial returns Investment In Donald Trump.

After putting tens of million dollars in Trump’s 2024 campaign for the President, the Crypto industry has been made beautifully paid during its first week at the White House.

“I don’t think they could imagine just a better result in the last 48 hours,” the benchmark bill is known for Gurly, one Initial bets But UberTold CNBC “Close the bell” On Friday. Gurli said that the new effect of Tech in Washington startup can be harmful to parts of the world, “This is clearly good for Crypto.”

Industry support for Trump was created at the promise of the Republican leader to stop the government’s rift on Crypto and implement the rules that develop new types of payment technologies while reducing the ban on investment in cryptocurrency Wanted to do

Industry heavyweight Like coincidence CEO Brian Armstrong and CEO Richard Teng are appreciating the beginning of a new era.

“You have to remember, in the last four years, we really felt as if we were being attacked by this administration,” Armstrong told CNBC On the annual World Economic Forum in Davos, Switzerland. Armstrong criticized the Biden White House, “tried to make a weapon of clarity in the rules,” even punished companies who were trying to be helpful.

Armstrong said, “Some bad actors were also fair.” “But he tried to go after really good actors, I think, like us.” The coinbase was One of the major corporate donors In the 2024 election cycle.

Bitcoin On Monday, a record of about $ 109,000 hit high and hovering near $ 105,000 by the end of the week. This is more than 50% since Trump’s election victory in early November.

One includes one in a 48-hour stretch referred by Gurli executive Order On Thursday signed by Trump to promote digital asset adoption in America

Trump called members of the Treasury, SEC and Commodity Fucers Trading Commission to join the forces in a work group to evaluate the capacity of stockpiling cryptocurrency seized by the government.

The order underlined other major priorities, such as protecting bitcoin miners and software developers, which the President called “oppression”, and promoted US dollars-paying stabecrims, banning digital dollars from the Federal Reserve.

Venture capitalist David Sachs, who Trump Used To be the White House AI and Crypto Caesar, joined the Oval Office to sign the order.

Later on Thursday, SEC made a historic announcement, withdraw An accounting rule that made banks to adopt institutional crypto by forcing bitcoins and other tokens to treat as an obligation on their balance sheet.

The rule known as sab 121 was introduced in 2022 and digital assets were subjected to strict capital requirements. This also increased the financial and regulatory risks to offer crypto detention services and increase operating costs for financial institutions.

Efforts to turn the Sab 121 gained bilateral support in the Congress last year. But The then President Biden Vito the proposed law, retaining the rules, discouraged banks to adopt digital assets beyond derivative trading and offer exchange-traded funds to money management customers.

The move was celebrated by SEC Commissioner Haster Peerus, who On Tuesday A new “Crypto Task Force” was tapped within the agency.

“Bye, by all 121! It’s not fun,” he wrote Post on X,

Before the announcement of SEC, Goldman Sachs CEO David Solomon told From a regulatory point of view in CNBC Davos, the bank cannot own bitcoin and if the rules change it will reconsider the issue. K CEO Morgan Stanley And Bank of America It was also said that President Trump’s supporters-Crypto Tones can reopen their plans and potentially expand digital offerings.

A few days ago, Gary Gensler stepped down from his role as an SEC chair. Jensor, who emerged as an opponent to the Crypto industry, defended the rules required for the safety of investors in the event of crypto firm bankruptcy. Trump’s pick is former SEC Commissioner to make Gensler a success Paul AtkinsWho is currently CEO in Patomam Global Partners.

On TuesdayOn his second day in the office, Trump gave a complete forgiveness to Silk Road founder Ross Albriich. 40 -year -old, Ulbricht, since 2015, was serving a life sentence without the possibility of parole, when he was convicted in a federal court Was involved in seven allegations Conspiracy to distribute drugs and to hack computer.

Silk Road operates from 2011 to 2013, serving as a dark web marketplace, where users bought and sold a contribution mixture including illegal narcotics such as heroin. Platform Over $ 200 million facility in salesAccording to federal prosecutors, and at least six people were bound by death.

At its peak, Silk Road served as a global drug market, in which the transaction was held on a large scale. BitcoinIt is one of the early mass applications of a cryptocurrency. The prosecutors later argued that the oblivion that was borne by Bitcoin had played an important role in mask their identity to the silk road vendors.

The Alberich became a type of creed hero in the Crypto community, and “” “”Free ross “ The movement gained resonance among orthodox media personalities and politicians.

“I only called Ross William Albicht’s mother, so that she was in honor of her and the Liberterian movement, who supported me so strongly, was my pleasure that she signed a full and unconditional forgiveness of her son, Ross, ” Trump wrote Truth on Tuesday in a post on social.

Changpeng Zhao, billionaire co-founder and former CEO of Binense, Comment After the announcement of forgiveness, on X with a clapping emoji. Swear was sentenced In a four -month prison in April, after being convicted for allegations of enabling money laundering at his Crypto Exchange.

Most especially, the President is nervous in a part of the market which is notorious for scams. Last weekend, while Crypto leader and family members of Trump and members of Inner Circle were partying. Crypto ball In Washington, $ trump meme coin was unloading online.

Then the coin of $ Melania came. Together, the Trump family earned billions of dollars on paper due to the ownership of a property made from thin air. Crypto enthusiasts worry that this is a disturbing sign of Trump’s real intentions and is harmful to the credibility of an industry that is trying to prove its validity.

Nick Carter of Castle Island Ventures wrote, “Call me old -fashioned, but I think the presidents should focus on running the country and not launching the scam tokens.” Post On X.

Website $ Trump says that 80% of supply is organized by Trump organization and colleagues.

MPs also have objections.

Sen Elizabeth Warren and Rape. Jake Achincloss, both Massachusetts Democrats, raised issues about the first couple, as well as the first couple, using their positions for the first couple.

“We write deeply about the decision of President Trump and first female Melania Trump, to launch two meme coins, $ Trump and $ Melania, which allows them to earn extraordinary benefits from their presidential post , ” The pair said in a letter received by CNBC.com. “These coins do not make new rapid, cheap and safe payment rails. These coins do not help people borrow more affordable. They do not improve the financial system for consumers in any way.”

$ Trump is now trading under $ 30, below 50% below its peak immediately after launch. $ Melania tokens have fallen by more than 80% from its high, and currently trading below $ 2.50.

Mem coins are subject to a multi-year-old westing schedule, ensuring that most of the tokens cannot be liquid all at once. Without selling any token, former coincidence Executive and Crypto Analyst Connor Growon It is estimated The Trump team still produced $ 58 million in trading fees on the first day.

The doubt meme is not limited to coins.

In Trump’s executive order on Thursday, the President decreased by the US starting buying bitcoins directly and giving it as a reserve.

Next to the order, the CEO of Binens Richard Teng Told CNBC in Davos He estimated that the US would establish a strategic bitcoin reserve. Circle CEO Jeremy Allair called it “prudent” for central banks to keep stores in bitcoin.

Trump provoked the idea on the campaign trail, suggesting that an American bitcoin reserve could be supported by crypto assets seized from hackers and fraud rings, a proposal that remains under consideration.

But in his 1,300-word executive order on Thursday, Trump did not escape calling for the bitcoin reserve. The word bitcoin was not found anywhere.

, Ryan Brown of CNBC contributed to this report.