Crypto gets a quick return on Trump’s investment after the financing campaign

Executive managers, companies and investors in the field of encrypted currencies get an early return on their investments investment in Donald Trump.

After pumping tens of millions of dollars in the Trump presidential campaign for the year 2024, the coded currency industry funds were well paid during its first week at the White House.

“I don’t think they could have imagined a better result than they just got during the past 48 hours,” said Bill Gorli of Benchmark, known as Early bet on UberHe told CNBC “Close Bell” Friday. Gorli said that although the newly discovered technology influence in Washington may be harmful to some parts of the world of startups, it is “clearly useful for cryptocurrencies.”

Trump’s industry support was built on the Republican leader’s promise to stop the government’s campaign against encrypted currencies and implement the appropriate regulations for those who want to develop new types of payment technologies while reducing restrictions on investments in encrypted currencies.

Heavy weights industry Love Queen Piece CEO Brian Armstrong and CEO of Binance Richard Ting praised the beginning of a new era.

He added: “You should remember, during the past four years, we really felt as if we were attacked by this administration.” Armstrong told CNBC At the annual World Economic Forum in Davos, Switzerland. Armstrong criticized the White House during the Biden era for his “exploitation of lack of clarity in the rules as a weapon,” and to punish even companies that were trying to provide assistance.

“To be fair, there were also some bad actors,” said Armstrong. “But they have already tried to pursue good actors, just like us, I think.” It was the currency base One of the leading donor companies In the election session 2024.

Bitcoin It reached a record level of about 109,000 dollars on Monday and hovering near $ 105,000 by the end of the week. It has risen more than 50 % since Trump’s victory in the elections in early November.

The extension included the 48 hours referred to by Georley Executive Trump signed it on Thursday to enhance the adoption of digital assets in the United States

Trump called on members of the Treasury, the Securities and Stock Exchange Authority and the commodity futures trading committee to unify efforts in a working group to assess the potential for the encrypted currencies that the government seized.

The matter set other major priorities, such as protecting the bitcoin mining and software developers, which the President called “persecution”, and the strengthening of stable currencies associated with US dollars, with a digital dollar banning from the Federal Reserve.

The adventurous capitalist David Sachs, who Trump Its exploitation To be Caesar, artificial intelligence and encrypted currencies in the White House, joined the president at the Oval Office to sign the matter.

Later on Thursday, the Securities and Exchange Commission issued a historic advertisement, Withdrawal It is an accounting base that made the adoption of institutional cryptocurrencies more difficult by forcing banks to deal with bitcoin and other symbols, such as a commitment in their public budget.

Al -Qaeda, known as SAB 121, was presented in 2022 and the digital assets were subjected to strict capital requirements. It also increased the financial and organizational risks to providing encrypted currency services and enhanced the operational costs of financial institutions.

The efforts to cancel SAB 121 were supported by the two parties in Congress last year. but President Biden at the time He objected to the proposed legislation, leaving the base as it is, which led to the inhibition of banks from the adoption of digital assets outside the scope of derivative trading and the provision of money traded on the stock exchange to wealth management customers.

This step was celebrated Tuesday He was appointed to lead a new “encryption team” inside the agency.

She wrote in a letter: “Goodbye, goodbye SAB 121! It was not fun.” Share on x.

Before the Securities and Stock Exchange announced, Goldman Sachs CEO David Solomon He said CNBC in Davos said that from an organizational perspective, the bank cannot possess Bitcoin and that it will reconsider the problem if the rules change. CEOs for Morgan Stanley and Bank of America He also said that the tone of President Trump supporting encrypted currencies can reshape their plans and may expand digital offers.

Days before, Gary Ginsner resigned from his position as head of the Securities and Exchange Authority. Ginserner, who appeared as a discount for the encrypted currency industry, defended the base as necessary to protect investors in the event of the bankruptcy of encrypted currency companies. Trump’s choice to succeed Jinsler is the former commissioner of the Securities and Exchange Committee Paul AtkinsWho is currently the CEO of Patomak Global Partners.

TuesdayOn his second day in his post, Trump gave a complete excuse to Russian Olbricht, the founder of the Silk Road. Olbricht, 40, has been serving a life sentence without the possibility of conditional release since 2015, after being convicted of a federal court. On seven charges included Distribution of drugs and conspiracy to commit computer piracy operations.

The Silk Road was operated from 2011 to 2013, and it was a market on the dark internet as users bought and sold a mixture of smuggled materials, including illegal drugs such as heroin. Platform It facilitated more than 200 million dollars in salesAccording to federal prosecutors, he was associated with the death of at least six people.

At its peak, the Silk Road was a global drug market, as transactions were largely completed in it BitcoinThis makes it one of the oldest wide -ranging applications for the encrypted currency. The representatives of the prosecution later argued that the concealment of the identity provided by the Bitcoin coin had an effective role in allowing the Silk Road sellers to hide their identities.

ULBRICHT has become a kind of some kind in the encrypted currency community, and “Ross Free “ The movement has gained an echo among the conservative media figures and conservative politicians.

“I just contacted the mother of Ross William Olbricht to tell her that in honor of her and the liberation movement, which supported me strongly, it was my pleasure to just fully sorry and unconditional for her son Ross.” Trump books In a post on Truth Social on Tuesday.

Changgeing Chau, the co -founder of the co -founder and former CEO of Binance, Stuck On X with an expressive symbol applauds after announcing the pardon. Chao was convicted To four months in prison in April, after confessing guilty on the charges of enabling money laundering on his encrypted currency exchange.

It is worth noting that the president was having fun in part of the market famous for fraud. At the end of last week, while cryptocurrencies, Trump family members and the inner circle were celebrating Encryption In Washington, the Mimy of Trump began to appear online.

Then the Melania currency was $. Combated, the Trump family has made billions of dollars on paper because of its ownership of the assets that were created from nothing. Enthusiastic currencies are concerned that this is a worrying sign of Trump’s true intention and harm the credibility of the industry that is trying to prove its legitimacy.

Nick Carter, of Castle Island Ventures, wrote in an article: “Call me old -fashioned, but I think the presidents should focus on managing the country and not launching fraudulent codes.” mail On x.

the Website For $ Trump says 80 % of the offer is owned by Trump and its subsidiaries.

Legislators also have objections.

Senator Elizabeth Warrin and MP Jake Osinglos, both of whom are Democrats for Massachusetts, have raised issues related to the first two couples who use their positions to enrich, as well as the possibility of “attraction”.

“We are writing deeply about the decision made by President Trump and the first lady Melania Trump by launching two digital currencies, $ TROMP and $ MELANIA, allowing them to reap unusual profits from his presidency.” The husband said in a message obtained by CNBC.com. “These coins do not create new, cheaper and safer payments paths. These coins do not help people borrow at a reasonable cost. They do not improve the financial system in any way for consumers.”

Trump’s dollars are now trading less than $ 30, a decrease of more than 50% of its peak after a short time of launch. The $ Mellania code has decreased by more than 80 % of its highest level, and it is currently being traded by less than $ 2.50.

Curls are subject to a multi -year entitlement table, ensuring that the majority of distinctive symbols can be liquidated once. Without selling any previous symbols Queen Piece Executive Director and Corpoer Currency Analyst Conor Grogan It is able to do so The Trump team still generates $ 58 million in trading fees on the first day.

Doubt is not limited to coins.

In the Trump executive order on Thursday, the President failed to direct the United States to start buying and keeping Bitcoin as a reserve.

Before the matter, Binance CEO Richard Ting He told CNBC in Davos It is expected that the United States will create a strategic reserve for bitcoin. Jeremy Alere, CEO CEO, described it as “wisdom” for central banks to keep the bitcoin reserves.

Trump had put forward the idea during his campaign, noting that the American bitcoin reserves can be supported by encrypted assets that were seized by infiltrators and fraud gangs, a suggestion that is still under consideration.

But in his 1300 -word executive on Thursday, Trump not only avoiding the Bitcoin reserves. The word Bitcoin was not found anywhere.

– Ryan Brown from CNBC contributed to this report.