- Leadership at the SEC and CFTC reshuffled to favor digital asset regulation.
- A Strategic Bitcoin Reserve was created, though it did not involve new BTC purchases.
- The WLFI stablecoin launch triggered calls for an ethics investigation.
The first 100 days of U.S. President Donald Trump’s second term have reshaped the cryptocurrency and blockchain landscape through sweeping policy moves, regulatory changes, and controversial personal involvement.
From the release of new meme tokens timed with the inauguration to the establishment of a U.S. Bitcoin reserve, President Trump has pushed an aggressively pro-crypto agenda while raising concerns about regulation, geopolitical tensions, and notable market volatility.
A series of tariffs, executive orders, and personnel appointments have created both opportunity and uncertainty across the digital asset markets.
WLFI token launch and SEC overhaul mark the term’s start
On January 20, as Trump was sworn in, his family’s investment firm, World Liberty Financial (WLFI), launched the second phase of its token sale.
The non-transferable WLFI token rolled out alongside a wave of crypto-friendly appointments.
Paul Atkins was named SEC Chair on day one, replacing Gary Gensler, while Brian Quintenz was nominated to lead the CFTC.
David Sacks, a vocal crypto supporter, was appointed to chair the President’s Council of Advisors on Science and Technology, placing him at the center of both blockchain policy and AI regulation discussions.
The WLFI token, initially marketed as a patriotic memecoin aligned with Trump’s return to power, gained traction on platforms like X and Telegram.
Branding for the token leaned heavily on themes tied to American exceptionalism and conservative values.
Although not tradable on major exchanges, and issued as non-transferable units, the project attracted retail investors hopeful for future utility.
Promotional materials also hinted at exclusive access for top holders, culminating in a controversial quarter‑end event.
Trade tariffs shake miners while a Bitcoin reserve takes shape
Weeks into the new administration, Trump’s economic nationalism began to impact the crypto industry.
On February 1, broad tariffs were imposed on Mexico, China, and Canada, citing security concerns and fentanyl trafficking.
Markets fell in response, and Bitcoin miners were hit particularly hard by higher import costs for critical hardware.
Tensions escalated on April 2 when Trump introduced a minimum 10% tariff on all countries that tax U.S. goods, branding the move a “Liberation Day.”
Meanwhile, on March 7 the president signed an executive order establishing a Strategic Bitcoin Reserve.
Although intended to formalize U.S. engagement in the crypto market, the measure disappointed many investors by not initiating new BTC purchases.
$TRUMP dinner token prompts backlash and ethics probe
The $TRUMP memecoin tied to Donald Trump surged more than 50% in value to reach a $2.7 billion market capitalization after the project announced that the top 220 token holders would be invited to dine with the former president on May 22.
The event, hosted at his private club in Washington, also offered VIP White House tours for the top 25 holders.
Chainalysis reported that Trump and his associates earned nearly $900,000 in trading fees from the token within two days of the announcement.
Since its January launch, the token had generated $324.5 million in trading fees through a mechanism that redirected a portion of each transaction to insider-controlled wallets.
The Trump Organization and allied entities reportedly controlled roughly 80% of the token supply, which was locked under a three-year vesting schedule.
The dinner offer prompted lawmakers and regulators to react, with Senators Elizabeth Warren and Adam Schiff urging a federal ethics investigation, calling the arrangement a potential “pay-to-play” scheme.
Meanwhile, Trump’s broader crypto ventures, including the $MELANIA token and World Liberty Financial, reportedly raised $550 million, with affiliated Trump entities entitled to 75% of net proceeds.
These developments have unfolded amid relatively light regulatory oversight of the crypto sector under the Trump administration.