Crypto Takes Center Stage: Trump’s Memecoin, Pro-Crypto Policies, and Major Market Moves
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Trump Enters Crypto Arena with $TRUMP Memecoin Launch
The week began with market turbulence as the now U.S. President Donald Trump launched his own cryptocurrency, $TRUMP over the weekend. The asset gained huge traction following its debut, surging to around $70 per token before pulling back slightly after the introduction of a second token, $MELANIA, dedicated to the new first lady. Created by CIC Digital LLC, a Trump Organization affiliate, $TRUMP has already achieved a market cap of $7.2 billion, largely driven by retail investors holding less than $100 worth of the token.
The $TRUMP token was developed in collaboration with Fight Fight Fight LLC, another Trump-linked entity. Together, the companies retain 80% of the total supply, ensuring centralized control over the token’s distribution. The initial supply of 200 million tokens is set to expand over the next three years, with an additional 800 million tokens slated for release.
President Trump Issues Executive Order to Establish a Pro-Crypto Agenda??
In his first week in office, President Donald Trump fulfilled his campaign promise to make the United States a leader in cryptocurrency by issuing an executive order aimed at transforming the regulatory landscape for digital assets. The order directs federal agencies to create policies that support crypto innovation, assess the feasibility of a national digital asset stockpile, and revoke restrictive measures introduced during the previous administration, including President Biden’s 2022 crypto executive order.??
The executive order establishes a working group chaired by venture capitalist David Sacks, Trump's crypto and AI czar, which includes key Cabinet officials and heads of regulatory agencies like the SEC and CFTC. This group is tasked with reviewing all crypto-related regulations within 30 days, recommending necessary modifications or eliminations within 60 days, and producing a comprehensive policy framework within 180 days. The order explicitly prohibits any work on a U.S. central bank digital currency (CBDC), aligning with Trump's vision of limiting centralized financial controls.??
The announcement sparked immediate market reactions, with Bitcoin briefly climbing above $106,000 before retracing to $103,500. Crypto market insiders view the directive as a significant step toward regulatory clarity, potentially ending the multi-year penalties imposed on digital asset businesses under the previous administration. While executive orders are not binding for Congress or independent agencies like the SEC, Trump's Republican-majority Congress and allies are expected to align with the president’s agenda, potentially accelerating crypto-friendly legislation.??
Key legislative players, including Senate Banking Committee Chairman Tim Scott, welcomed the move and expressed optimism about partnering with the administration to advance the crypto sector. The order also revives the possibility of comprehensive market structure and stablecoin legislation, setting the stage for significant developments in the U.S. digital asset space. Trump’s bold actions mark a pivotal moment for the industry, raising hopes for a more inclusive and innovative regulatory framework.
Trump Pardons Silk Road Founder Ross Ulbricht??
In one of his first major actions as president, Donald Trump granted a full pardon to Ross Ulbricht, the founder of the Silk Road online marketplace. Ulbricht had been serving a double life sentence plus 40 years for charges linked to the sale of drugs and other illicit materials on the platform, where transactions were often conducted using Bitcoin.??
Ulbricht’s case has long divided opinions, with many in the crypto and libertarian communities arguing that he was unfairly punished as a software developer for the actions of the platform's users. “Ross Ulbricht has been a libertarian political prisoner for more than a decade,” said Libertarian National Committee Chair Angela McArdle. “I’m proud to say that saving his life has been one of our top priorities, and that has finally paid off.”??
Trump’s decision fulfills a key campaign promise, where he pledged to secure Ulbricht’s release if elected. On Truth Social, the president criticized the prosecution, calling the sentence “ridiculous” and alleging political motives behind Ulbricht’s conviction. "The scum that worked to convict him were some of the same lunatics who weaponized the government against me,” Trump posted.??
The pardon has reignited discussions around sentencing reform and personal accountability in online platforms, with Ulbricht’s release viewed as a symbolic victory by his supporters and a controversial move by critics of the decision.
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OKX Exchange Secures MiCA Pre-Authorization for European Expansion
OKX Exchange has announced it has received pre-authorization under the European Union’s Markets in Crypto-Assets Regulation (MiCA) for Virtual Financial Assets (VFA). This milestone positions OKX to pursue a full MiCA license, which would enable the exchange to offer regulated crypto services to over 400 million people across the European Economic Area (EEA) through its Malta-based hub.??
Once fully licensed, OKX plans to expand its offerings, including spot trading, automated trading bots, and access to over 240 cryptocurrency tokens across 260 trading pairs. The license will also allow OKX to provide 60 euro-based trading pairs, further cementing its presence in Europe’s growing crypto market.??
Malta was chosen as OKX’s MiCA hub due to the country’s robust regulatory framework, advanced technological infrastructure, and strong support for blockchain and cryptocurrency innovation. Currently, OKX holds a Class 4 Virtual Asset Service Provider (VASP) license from the Malta Financial Services Authority (MFSA), underscoring its commitment to compliance and security.??
With MiCA set to unify crypto regulations across the EU, OKX is positioning itself to leverage the framework and seamlessly operate in all 30 EEA member states, providing a significant boost to its global expansion strategy.
MicroStrategy Boosts Bitcoin Holdings to 461,000 BTC with $1.1 Billion Purchase??
MicroStrategy has once again expanded its Bitcoin holdings, acquiring an additional 11,000 BTC for $1.1 billion during the week ending January 19. This latest purchase raises the company’s total Bitcoin reserves to an impressive 461,000 BTC, acquired at an average price of $63,610 per token. The most recent purchase was made at an average price of just under $101,200 per BTC, reflecting the company’s continued bullish stance despite market fluctuations.??
MicroStrategy Chairman and co-founder Michael Saylor hinted at the acquisition through cryptic posts on social media platform X, sharing messages like “Things will be different tomorrow” and photos alongside prominent U.S. political figures. These posts fueled speculation about the company’s growing influence in both the crypto space and policy discussions.??
While MicroStrategy’s share price showed a slight dip in premarket trading earlier this week, the move marks its 11th consecutive week of Bitcoin accumulation, underscoring the firm’s unwavering commitment to its Bitcoin-centric strategy. This aggressive acquisition approach highlights the growing institutional embrace of Bitcoin as a long-term store of value and an integral part of corporate treasuries.??
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