Today we are going to touch base again on Trump, his promises and what's been delivered so far in terms of the crypto world. I personally said I won't believe it until I see it and so far that is what we are seeing. A lot of talk before with zero action happening at the moment.

In fact in the news conference yesterday someone called out Trump about his meme coin and launching products that only benefit him. And let's be clear the meme coin only benefits trump and his team as they own 80% of the token at launch. That's a clear rug pull setup as we have seen in the past.

Broken Promises

There were two main things people expected in terms of executive orders from trump and now let's be clear they might still come as there's still ones being signed even as of yesterday.

The first was to create a strategic reserve for the USA for bitcoin. While I wasn't excited about this as it was only a promise of not selling any of the confiscated bitcoin they have and acquired in the future to build that reserve it did not highlight at all that the government would buy any of the bitcoin.

All this would do is remove some selling pressure on the token from the dumps many governments end up doing. The USA has done it a few times and Germany as well recently.

The second broken promise was a day one executive order to pardon Ross Ulbricht. Who is the founder of a online market silk road. But as of this morning it seems like that pardon may have in fact gone through now thus building some hope that there's just a delay on these day one promises.

That means if this pardon is for sure done and has happened then the reserve may not be further behind.

This is for sure sending off a lot of mixed signals to the crypto community at the moment.

Time

We in the crypto space are used to things operating at a rather face pace. We get stuff done and it gets done on a 24/7 no breaks level. The government and people in general well they don't work that way.

These things will take time. The new SEC chair still isn't in power as Trump has not yet named the person but speculation is saying that Paul Atkins will be. The changes are clear regulation and more openness to crypto instead of enforcement by courts.

There's still heavy push in that direction and although we aren't getting it as fast as we want it does feel like it will be coming down the pipeline.

What's really wild is how many people are just begging Trump to change things not only in the Crypto markets but everything clearly showing us what a lame duck president we had on the last go.

Posted Using INLEO