Donald Trump Spoke for 1 Hour 38 Minutes, Did Not Mention a Word About Cryptocurrencies: What Does This Mean?

The fact that US President Donald Trump did not mention cryptocurrencies in his speech to Congress is a significant omission, considering his recent statements about the sector. According to investment bank TD Cowen, this omission indicates that cryptocurrencies are not a significant focus for Trump.

TD Cowen's Washington Research Group led by Jaret Seiberg noted in a report released today that this exclusion is significant. Seiberg emphasized that Trump's decision to exclude crypto was more than just oversight, stating, "If it were a personal priority, then it would have been addressed in the speech."

The neglect is particularly noteworthy due to Trump's references to cryptocurrencies in his speeches and social media posts in the days leading up to his speech. Seiberg sees this silence as "more important" given Trump's known stance on crypto policy, as well as the lack of discussion on other issues such as housing and banking.

Seiberg pointed to the potential political motivations behind Trump's decision. He noted that Republicans in Congress are currently trying to secure Democratic support for the stablecoin bill. Trump's direct involvement could complicate these negotiations, making his silence strategically advantageous.

However, another explanation is that Trump does not see cryptocurrencies as an urgent issue in a broader political agenda. Seiberg said, "When Trump faces crypto investors, he talks about crypto. However, we continue to believe that this is not a personal priority."

In general, Seiberg described Trump's speech as 'long on showmanship even for a Donald Trump speech, short on content.'