President Donald Trump's second term began with mixed reactions from the crypto industry as his initial executive orders omitted promised support for digital assets. Trump pledged to establish a strategic bitcoin reserve and commute Ross Ulbricht’s life sentence on Day 1, but only pardoned Ulbricht late Tuesday. The SEC announced a crypto task force to create a clear regulatory framework for digital assets. Trump and the first lady's launch of meme coins before his inauguration upset some in the crypto industry due to their lack of economic use. Eighty percent of the Trump token's supply is controlled by Trump-affiliated entities, raising concerns about its centralization.
