Donald Trump UNDER FIRE Over Crypto Meme Coin FIASCO! Coinbase CEO Makes NEW Bitcoin Predictions!

Altcoin Daily

Introduction to Trump's Crypto Involvement

  • Trump launched a crypto coin, but claims to not know much about it.
  • Trump failed to commute the sentence of Ross Ulbricht, the founder of Silk Road, on his first day in office.

Expectations for Crypto Under Trump's Presidency

  • Industry leaders like Coinbase CEO Brian Armstrong are excited about the potential positive changes under Trump's presidency.
  • Armstrong expects clear rules and legislation to be passed, allowing capital to flow into the US and startups to be built.

Executive Orders and Legislation

  • Trump appointed Mark Yuda as acting SEC chair, who is pro-crypto.
  • The SEC has been criticized for its approach to crypto, with a lack of clear guidance and rules.
  • Armstrong suggests that executive orders could be used to direct agencies to collaborate and work towards clear rules.

Bitcoin Strategic Reserve

  • Brian Armstrong is supportive of a Bitcoin strategic reserve, which would allow governments to hold Bitcoin as a store of value.
  • He believes that Bitcoin is a better form of money than gold, with its provable scarcity, portability, and divisibility.

Industry Perspective

  • The crypto industry is ready for clear rules and legislation, after feeling attacked by the previous administration.
  • Operation Choke Point 2.0 is seen as a major issue, with regulators applying soft pressure to banks to debank crypto users.
  • The industry is pushing for legislation to make it clear that people have the right to self-custodial wallets and own Bitcoin without persecution.

Trump Family's Involvement in Crypto

  • The Trump family has launched their own meme coins, with some critics viewing it as an enrichment of the president.
  • Brian Armstrong is open-minded about meme coins, seeing them as potential innovation.

Bitcoin Price Prediction

  • Brian Armstrong predicts that Bitcoin's price will hit multi-millions, with the potential for a strategic Bitcoin reserve and clear legislation.
  • He believes that Bitcoin will become the new gold standard, with a long way to go in terms of adoption and institutional investment.