22nd January 2025 > > Trump & cryptos.
tl;dr
Trump related meme coins are not really what we were looking for from the new pro-crypto administration. The SEC has already moved on from the damaging Gensler years, to everyone’s benefit.
Market Snap

Market Wrap
By all market measures, Trump’s inauguration has been viewed very positively, but don’t say that too loudly in some people’s company.
Curious Cryptos’ meme corner

Curious Cryptos’ Commentary – Trump
On Friday, whilst I was celebrating my birthday, Trump released his own meme coin, called … TRUMP.
Announced on X this was the most obvious speculative play of the year for those who moved quickly and early. Just thirty hours after launch the market cap topped out at $15bn, which must be the most explosive growth of any coin ever.
Then his wife announced the launch of her own meme coin, called … MELANIA. This news sucked the air out of TRUMP leading to a rapid near 50% sell-off whilst MELANIA reached a market cap of $2bn in just five hours. Plenty of people who saw the news early made out like bandits, at the expense of those late to the party.
Note that neither Trump nor his wife have benefited from the launch of these coins, for their personal holdings are subject to a three-month lock. They might at some point be able to monetise their holdings, though I see little rational reason for there being continued interest in these coins. I certainly would not want to be the exit liquidity for early adopters.
…
Those are the facts, or some of them at least.
I am a little concerned and worried by all of this.
The naysayers obviously have a field day when commenting on nonsense like these coins. They are an easy target, and the story can be spun in so many negative ways. The key question though is whether this joint launch is indicative of Trump’s true intentions towards cryptos. If so, this is in stark contrast to the promises he made on the campaign trail.
I know, I know. Politician lies for political gain is hardly a groundbreaking story, but we must hope that better is to come, and to come soon.
Curious Cryptos’ Commentary – The SEC
Under new management, the SEC has set up a task force to specifically consider the regulatory environment for cryptos going forward. Led by Commissioner Hester Pierce, a fiercely vocal pro-crypto advocate, the accompanying statement makes plain the failings of the SEC under its previous leadership:
“To date, the SEC has relied primarily on enforcement actions to regulate crypto retroactively and reactively, often adopting novel and untested legal interpretations along the way. Clarity regarding who must register, and practical solutions for those seeking to register, have been elusive. The result has been confusion about what is legal, which creates an environment hostile to innovation and conducive to fraud. The SEC can do better.”
A stable and transparent legislative and regulatory environment will foster innovation, drive productivity improvements for all businesses, and attract investment that will create the tax dollars that politicians of all stripes like to fritter and waste.
It looks like better will come, and soon.
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