President Trump on Wednesday posted on Truth Social that he saved the American crypto industry from Gary Gensler’s “Anti-Crypto Army,” declaring America is now the “Crypto Capital of the World.”

What Trump Actually Did For Crypto Since Taking Office

The policy record backs him up on several fronts.

Trump signed the GENIUS Act in July 2025, creating the first federal stablecoin framework with full dollar backing and annual audits—it passed the Senate 68-30 after Trump personally called holdout senators. 

Earlier that same year, he signed an executive order establishing a Strategic Bitcoin Reserve using roughly 200,000 Bitcoin from government seizures worth about $17 billion. 

Beyond legislation, he appointed pro-industry officials at the SEC and CFTC and is currently pushing the CLARITY Act through Congress before the August recess.

His posts moved markets too.

The March 2025 Strategic Reserve announcement sent Bitcoin (CRYPTO: BTC) above $90,000 within hours, while XRP (CRYPTO: XRP), Solana (CRYPTO: SOL), and Cardano (CRYPTO: ADA) posted double-digit gains the same day.

His November 2024 election victory alone pushed Bitcoin to a then-all-time high of $75,999 as investors priced in four years of lighter regulation.

What Crypto Markets Actually Did Under Trump

The reality for most crypto holders has been more complicated. Bitcoin hit $126,000 during this cycle but has since dropped to around $73,000—down roughly 42% from its highs. 

The Iran war, trade wars, and the AI capital rotation have all pulled money away from crypto and toward tech stocks.

Altcoins have suffered far worse, with many down 70% to 90% from their peaks despite four years of accumulation by retail investors. 

The AI trade has drawn institutional capital away from crypto into Nvidia Corporation (NASDAQ:NVDA) and the broader tech sector, creating a direct competition for risk capital that crypto is currently losing.

The Gap Between Policy Wins And Market Reality

Trump’s pro-crypto policy record is genuine—the GENIUS Act, the Strategic Reserve, and the push for the CLARITY Act are all meaningful legislative milestones. 

However, policy wins have repeatedly failed to translate into sustained price recovery when macro headwinds, geopolitical conflicts, and competing investment narratives dominate market sentiment.

His family’s company, World Liberty Financial (CRYPTO: WLFI), launched its own stablecoin USD1 and sought a trust charter under the OCC—raising conflict of interest questions that Democrats have used to complicate the very legislation Trump is championing.

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