‘Price Below $100,000 Seems Inevitable’
Trump’s $TRUMP-branded “meme coin,” launched on Friday evening, experienced a significant drop on Tuesday, according to cryptocurrency price tracker CoinMarketCap.
Another Trump-affiliated cryptocurrency project, World Liberty Financial, announced on Monday that it had completed an initial token sale worth $300 million and plans to issue additional tokens. Trump has pledged to delegate asset management to his children, but ethics experts have criticized his cryptocurrency ventures for creating conflicts of interest and fueling speculation in a volatile asset class.
Acting SEC Chair Mark Uyeda’s office announced on Tuesday that the agency’s new task force will help define regulatory boundaries, provide registration pathways, establish disclosure frameworks, and deploy enforcement resources.
Reuters reported earlier this month that Uyeda and Republican Commissioner Hester Peirce are preparing to initiate cryptocurrency policy changes.
Trump is reportedly expected to announce executive orders in the coming days to further promote Bitcoin usage.
At the start of this week’s World Economic Forum annual meeting in Davos, Circle CEO Jeremy Allaire told the Reuters Global Markets Forum that he anticipates executive orders allowing banks to trade cryptocurrencies, offer crypto investments to wealthy clients, and hold them in portfolios.
