Cark Crypto and convicted forgiven: Why Trump excites the Bitcoin world

President Memecoin

In another sign of appreciation for the area, a group associated with Trump launched a cryptocurrency named his name a day before his inauguration as president of the US. Two days after release, Trump reached a $ 14.5 billion peak in market value. That debut weekend, Trump was the most negotiated cryptocurrency in Brazil, ahead of Bitcoin, Ethereum and Solana.

Since then, the currency has already lost strength. Tota points out that, in practice, the creation of the currency does not change much, because it is a “meme coin”, named the cryptomosis created by the joke. Still, it represents a green light for the segment, says the director of the Bitcoin market.

In another nod, this one comes very controversial, Trump granted forgiveness to Ross Ulbricht, creator of Silk Road, a forum on Dark Web dedicated to using Bitcoin to sell all sorts of illegal items, from drugs to human organs. He had three prison sentences, two perpetuals and one 40 years. His release was Trump’s campaign promise, fulfilled as soon as he took over in January.

Geographical restriction

Fabrício Tota states, in addition to all the demonstrations of support to the sector, weighs in favor of Trump the fact that previous management have not been open to the crypto market. On the contrary, the US government made it difficult for the development of the crypto industry, the director says.