One Year of Trump: Pro-Crypto White House, Market Decline, and a Clear Winner

Despite regulatory easing over the past year in the United States, the value of all cryptocurrencies has sharply declined during the first year of U.S. President Donald Trump's term.
What initially many hoped would be a major positive change for crypto, actually caused more losses than gains for investors. The person who benefited most from the increasing integration of crypto into traditional finance seems to be President Trump himself.
Crypto Optimism in Washington
The crypto community welcomed January 2025 with high hopes, as Trump prepared to return to the White House.
During his campaign, Trump dubbed himself the “Bitcoin president” and promised to make the United States the crypto capital of the world. These statements made the industry increasingly optimistic, even more so after Trump launched his own meme coin just two days before his inauguration.
To some extent, Trump has indeed fulfilled part of his commitments.
Almost immediately, he appointed a crypto czar and placed a crypto-friendly chairman at the head of the Securities and Exchange Commission (SEC). He also signed the Genius Act into law, which became the first federal regulation to govern part of the crypto industry.
From the beginning, expectations were already quite low.
Years of criticism of the Gensler-led SEC and its enforcement-based regulatory approach made many industry players willing to accept almost all policy shifts.
Trump’s vocal support for crypto also remained consistent. In his speech at the World Economic Forum in Davos this week, he reaffirmed his support and mentioned hopes for the upcoming passage of the Clarity Act.
Although Trump highlighted his administration’s achievements, the crypto asset market still recorded losses as prices continued to decline.