While President Donald Trump has his claim on the future of cryptocurrency in America, investors and industry initiates are divided on the question of whether his administration really marks a turning point for digital assets.
Kevin O’Leary, president of O’Leary Ventures and longtime defender of the cryptocurrency, recently praised Trump’s position on digital assets, arguing that this administration inaugurates a “new phase” for the industry.
Speaking on “My Vision With Lara Trump”, O’Leary said that the so -called “Cowboy era of crypto” – marked by cases of high -level fraud and regulatory uncertainty – was over.
Remember that O’Leary was indeed affected by the greatest case of cryptographic fraud of all – FTX. As an investor and spokesperson for the Stock Exchange, O’Leary lost an important sum of money when the startup of Sam Bankman Fried went bankrupt at the end of 2022.
“All cryptographic cowboys are in prison or bankrupt. So now we are in a new phase. There is a new tone with the government. Trump put it forward, “said O’Leary.
But carpet prints and devastating hacks are still common.
Meanwhile, cryptographic “whales” and influencers make murder by inflating the parts with false “initiate knowledge”, inflating prices before removing and leaving the daily investors who hold the bag. It’s the Wild West there, and the crooks go up high.
O’Leary’s optimism comes as Trump embarks on a new Crypto initiative after the other.
After talking about the Bitcoin 2024 conference in Nashville, the candidate of the time launched World Liberty Financial. Two days before its inauguration, he unveiled Trump’s the same official corner (Trump). And all these investigations carried out by the dry on societies linked to cryptocurrencies (that is to say Binance and Coinbase)? They disappear.
Earlier this month, Trump signed an executive decree establishing a Bitcoin strategic reserve. This decision, which designated certain digital assets such as XRP, Sol and ADA as part of a strategic reserve supported by the government, was presented by Trump and its allies as a major step towards the integration of crypto in traditional finance.
Although O’Leary is of these developments as proof of a regulatory turning point, everyone in the world of cryptography is not convinced.
‘That’s not it’
Critics argue that the new adoption of Trump’s digital assets affects the credibility of the industry and opens the way to crying capitalism.
“The crypto is at a existential moment,” warned Zack Guzmán, journalist and founder of the media company Web3, warned on January 18. “I understand the desire to earn money quickly; I understand the excitement of thinking in the short term; I understand stand (sic) why Trump, a man who scribbled in any way to earn money for himself would earn the industry so easily. But that’s not it.
Only cryptographic companies favored politically prosper under the protection of the government, said Guzmán.
On the same day, Trump decided to launch a same, which skyrocheted 10,000%, of cryptographic elitist dressed in tuxedos and dresses, ready to go around a gala in Washington, DC, they did not know that Trump official would soon become a digital fire of garbage (it is currently out of 84% of its peak).
“I’m not saying that Trump simply used everyone by crypto by launching a black tie event at DC while simultaneously launching the same without them, but that’s exactly what he did,” Guzmán wrote on January 18. “This industry is its industry now, whether it is aware of it or not. Frankly, it is extremely sad.
‘Stupid and embarrassing’
After Trump launched Trump Official, Balaji Srinivasan, a cryptocurrency investor, described the pieces of “zero sum game”.
“There is no wealth creation,” he tweeted the day before Trump’s inauguration. “Each purchase order is simply equaled by a sales order. And after an initial peak, the price ends up complaining and the last buyers lose everything. »»
Crypto entrepreneur Erik Voorhees wrote on X:
Trumpcoin is stupid and embarrassing. Trumpcoin is a sea change signal in American Fintech policy towards much more permissive innovation. Both are true.
The founder of Skybridge and former director of communications for the White House, Anthony Scaramucci, described him as “corruption at Idi Amin”, referring to the military officer whose Ugandan domination in the 1970s was defined by corruption.
And this Bitcoin reserve – that of David Sacks, Trump’s Czar Crypto, said will be full of seized digital assets – also seems eccentric. Crypto analyst, Dessislava Aubert, told the France-Press agency that the US government should return to Bitcoin seized with all the victims identified as a piracy.
Despite skepticism, O’Leary remains firm in his conviction that Trump’s policies will legitimize the crypto in a way that no previous administration has.
“The big news is that it will be the first administration that will say that this sector belongs to America. Development should be there. Technology must be controlled here. We should lead the world there, ”added O’Leary.
Whether Trump’s promises are reflected in sustainable regulatory clarity – or are only large large political companies – remain an open question. For the moment, the crypto world is looking closely, taken between hope and deep doubt.
