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The cryptocurrency industry is entering a new phase of development amid a series of contentious events from high-profile political statements and promises to pardon certain ‘icons’ of the darknet community to the new administration’s discussed course on serious blockchain sector reforms.
In this article, I will share my opinion on how events related to Donald Trump’s inauguration will impact the crypto market, what initiatives might be implemented after February 20, 2025 and what lessons can be learned from years of interaction between the state and digital assets.
Trump and Republicans Monopolizing power and the risks of a split
According to some statements, a unique situation is currently unfolding in which Republicans have gained the majority in both Congress and the Senate, as well as in the House of Representatives.
This grants them the ability to pass laws more swiftly and confidently and to lobby initiatives, including those related to cryptocurrency regulation, Big Tech and more.
However, a monopoly on power carries the risk of internal division if parts of the party find the course too radical or dangerous for their constituents.
The role of Elon Musk and potential conflicts
Elon Musk is a prominent figure whose statements influence crypto markets, geopolitics and global business.
Some commentators suggest the following.
- Musk is engaging in political games By supporting Trump, Musk may be participating in political maneuvers that could lead to serious problems for him, including investigations or legal prosecutions from other nations and even the United States.
- Diverging interests f Musk’s and Trump’s interests diverge at some point, Musk risks becoming a target, which could severely impact all his projects.
- Market volatility The collapse of ‘Musk coins’ or a sudden shift in market sentiment could trigger a global wave of distrust in crypto, especially among retail and institutional investors.
Amnesty for the darknet network founder
President Donald Trump signed an executive order for the full and unconditional pardon of Ross Ulbricht, the creator of the darknet marketplace Silk Road, who was serving a double life sentence.
Many fear that such actions by the authorities could once again shape the media narrative to equate ‘cryptocurrency with illegal operations, fraud and scams.’
This reputation hindered the institutional recognition of Bitcoin and…
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