Trump's Crypto Comeback: $TRUMP Coin Divides Market

Trump's Return Sparks Crypto Enthusiasm, but Critics Slam $TRUMP Coin

President Donald Trump's return to office has sparked renewed enthusiasm among cryptocurrency investors, with many pinning their hopes on his potential impact on the crypto market. Trump, known for his crypto-friendly stance, has previously talked about making the United States the 'crypto capital of the planet' and stockpiling Bitcoin. Following his election victory, Bitcoin rallied beyond $100,000 for the first time in history.

However, Trump's first move in the crypto ecosystem, the launch of his official meme coin called $TRUMP, has been met with controversy. The coin, which also includes a $MELANIA token, is owned 80% by linked companies CIC Digital LLC and Fight Fight Fight LLC, with a three-year unlocking schedule. Critics view this as a money-making scheme, while others see it as a testing ground for the President's understanding of the crypto industry.

Investors are eagerly awaiting Trump's plans for a Strategic Bitcoin Reserve, which could add billions to the market capitalization of the crypto landscape. However, the President has instructed his administration to evaluate the credibility of creating a national digital asset stockpile, leaving investors in limbo for now.

Trump's departure from the Securities and Exchange Commission (SEC) has been welcomed by crypto enthusiasts, who believe the agency adopted an unfairly aggressive stance on the ecosystem. With Congress firmly under Republican control, Trump is expected to embrace widespread deregulation, potentially boosting the entire cryptocurrency sector. However, regulators must strike a balance between fostering growth and preventing scams that could damage the industry's reputation.

Meanwhile, the MOVE token, native to the Ethereum layer-2 network Movement, has surged 20% following a $2 million purchase by Donald Trump-backed World Liberty Financial. The network is also in talks with Elon Musk's Department of Government Efficiency (DOGE) to explore blockchain applications for tasks like tracking spending and managing payments.

Roger Ver, an early Bitcoin adopter, has launched a social media campaign pleading with President Trump to pardon his tax evasion and mail fraud charges. Ver claims he is the victim of "lawfare" and has compared his situation to that of Ross Ulbricht, the founder of the Silk Road marketplace. However, crypto proponents appear divided over whether Ver