$TRUMP: Crypto President or Grifter-Elect?

“Lot of people claim they’re in decentralized finance when really they’re just in unregulated finance.”1

On the eve of President Trump re-entering office, there was significant hype surrounding his promise to champion cryptocurrency. With the total crypto market cap hovering around $3.5 trillion, many speculated he might unveil a strategic Bitcoin reserve on day one—signaling a departure from the previous administration’s more cautious stance on digital assets. Instead, he *checks notes* launched a meme coin ($TRUMP), quickly followed by a companion token named $MELANIA.²

The twist underscores the unstable spectrum within the current crypto ecosystem: on one end, we see legitimate technological breakthroughs and established mediums of value; on the other, ethically ambiguous token launches and outright fraud. All while cryptocurrency growth continues in public markets – with inflows into crypto ETFs eyeing $1 trillion³ and companies converting parts of their treasury – or entire company strategy (MSTR) to Bitcoin.⁴

Despite the headlines surrounding $TRUMP, we hope it doesn’t undermine the positive expected developments in the space:

• Stablecoin oversight to protect public interest and safeguard a critical on-ramp to the broader crypto space.
• Clearer SEC and IRS guidelines around regulatory classifications and tax treatment.
• A Federal framework for regulating digital assets, including Anti-Money Laundering (AML) and Know Your Customer (KYC) standards to reduce complexity and make compliance more transparent.
• A push for government agencies and private sectors – from financial services to supply chains – to integrate blockchain technology.

We expect President Trump’s focus on artificial intelligence and digital assets to evolve—and likely remain volatile—as his term unfolds. 

Meanwhile, our investment team has fielded growing interest from advisors and clients alike, eager to manage crypto holistically and effectively in their portfolios. Accordingly, we plan to provide broader coverage of crypto and digital assets in our research publications moving forward.

Important Disclosures & Definitions

1  @Naval. (01/21/2025). [X post]. Retrieved 01/23/2025 from x.com.

2 Duster, C. (01/20/2025). What to know about Trump cryptocurrency meme coins. Retrieved 01/23/2025 from npr.org.

3  Mitchell, E. (01/21/2025). Bitcoin and Ethereum ETFs Inflows Top $875M, BlackRock BTC Holdings Exceed $60B. Retrieved 01/23/2025 from ccn.com/news.

4  Bitcoin Treasuries by BiTBO. (01/23/2025). Bitcoin Totals by Category. Retrieved 01/23/2025 from treasuries.bitbo.io.

AAI000878 01/28/2026