Despite Trump’s Friendly Stance on Cryptocurrency, His Initial Performance Faces Harsh Criticism
Since taking office in January of this year, Trump has been friendly towards cryptocurrency, yet his overall performance in the early days of his administration has faced severe criticism. Anthony Scaramucci, founder of SkyBridge Capital, recently stated that the first 95 days of Trump’s presidency are “the worst 95 days in modern presidential history.”
(Background: Trump’s First 100 Days Receive a Red Light! Approval Rating Below 40%, a Record Low for U.S. Presidents in 80 Years. Does the Tariff War Really Make America Great Again?)
(Additional Context: Over a Hundred U.S. Universities Take on Trump! Harvard Sues: Government Seriously Violates “Academic Independence.” What Has Trump Done?)
Contrasting Heroic Image Post-Shooting, Trump Marks 100 Days in Office
Unlike the heroic image of Trump, who continued to shout “Make America Great Again” after being shot at last year, the U.S. President officially marked his first 100 days in office this week since assuming office on January 20. During a speech, he boasted that these 100 days were the most successful in history, claiming a resurgence in manufacturing and that several major corporations announced increased investment in the U.S.
“Tonight, we gather in the heart of this country to celebrate the most successful 100 days of any government in American history, as many, many people have said…” However, a series of his policies has continued to spark widespread controversy: from the global tariff war to the launch of the personal meme coin $TRUMP, the criticism and insults from outside sources have been overwhelming.
Historical Low: Trump’s Approval Ratings Sound Alarm
According to a joint poll by ABC News, The Washington Post, and Ipsos, Trump’s current approval rating stands at only 39%, far below the 55% disapproval rate, setting a record low for a U.S. President’s first 100 days in nearly 80 years.
The poll also reveals a severe polarization in American politics: 21% of respondents “strongly support” him, while a significant 44% “strongly oppose” him. This highlights the general dissatisfaction of the American public with Trump’s government’s core policies on the economy, tariffs, and immigration. Although he maintains solid support within the Republican Party, it undoubtedly casts a shadow over Trump’s political future for a second term.
Key Cryptocurrency Events During Trump’s First 100 Days
The significant impact of Trump’s economic policies on the overall market is evident, but it is undeniable that he has indeed made strides in the cryptocurrency space. The Trump administration has launched several supportive policies for cryptocurrency, including establishing Bitcoin reserves and appointing pro-cryptocurrency officials, consistent with his campaign promise to “Make America the World’s Cryptocurrency Capital.” Despite controversies surrounding his personal meme coin project, some of his policies are still viewed positively.
Below is a summary of Trump’s actions during the first 100 days in office, particularly focusing on his initiatives in the cryptocurrency sector:
- January 20: On inauguration day, his family investment company WLFI launched a token, sparking a wave of interest, but it faced scrutiny due to the token being non-transferable.
- January 20: Trump appointed pro-cryptocurrency leaders to head the SEC and CFTC.
- January 21: Announced a $500 billion “Stargate” AI infrastructure investment plan, spearheaded by OpenAI and SoftBank, expected to create 10,000 jobs.
- January 21: Trump announced a pardon for Silk Road 2.0 founder Ross Ulbricht, fulfilling a campaign promise to the cryptocurrency community.
- January 23: Signed an executive order banning a digital currency (CBDC) from the U.S. central bank and established a task force to promote America as the “World Cryptocurrency Capital.”
- February 1: Imposed comprehensive tariffs on Canada, Mexico, and China, leading to a stock and cryptocurrency price crash, initiating a trade war.
- February 12: Engaged in a prisoner swap with Russia, releasing money launderer Alexander Vinnik in exchange for American teacher Marc Fogel.
- March 7: Signed an executive order establishing a “Strategic Bitcoin Reserve” and digital asset reserve, covering Bitcoin and Ethereum.
- March 7: The White House hosted a cryptocurrency summit with industry leaders like Coinbase CEO Brian Armstrong to discuss regulation and development.
- March 25: WLFI launched the stablecoin USD1, which garnered $500 million in funding but sparked ethical investigations due to potential conflicts with Trump’s influence on stablecoin policies.
- April 2: Announced “Liberation Day,” imposing a minimum 10% reciprocal tariff on all trading partners, causing a market downturn and increased costs for cryptocurrency miners.
- April 25: Announced a dinner for TRUMP coin holders, prompting calls for impeachment, with Democratic Senator Jon Ossoff labeling it a “removable offense.”
SkyBridge Capital Founder: Trump Has Gone Too Far
While Trump has indeed advanced the development of the American cryptocurrency industry, Anthony Scaramucci, founder of the pro-cryptocurrency hedge fund SkyBridge Capital, recently offered sharp criticism of Trump during an interview with Cointelegraph. Scaramucci, who served as White House Communications Director for just 11 days in 2017, holds the record for the shortest tenure in U.S. history.
He bluntly stated that the first 95 days of Trump’s presidency have been “the worst 95 days in modern presidential history.” Scaramucci pointed out that Trump’s global trade war has caused significant short-term impact on the cryptocurrency market, with prices experiencing extreme volatility due to macroeconomic uncertainty, and rising electronic product prices making it difficult for Bitcoin miners to maintain balance… Scaramucci warned: “Trump has gone too far; even stablecoin legislation has become more difficult to advance.”
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