Trump Meme Coins Plummet After Inaugural Address Omits Bitcoin #CriptoNews

The cryptocurrency world was apparently less than happy with President Donald Trump’s inaugural speech.

The official meme coins minted by Trump and First Lady Melania Trump fell by as much as 60% after the inauguration, CoinDesk reported Tuesday (Jan. 21). Futures tracking the two coins also struggled, the report added, with liquidation losses at almost $70 million for investors banking on higher prices.

Crypto markets expected Trump to mention digital assets during his address, perhaps by discussing his plans for a strategic bitcoin reservethe report said. The lack of any reference to crypto saw bitcoin drop from just above $109,000 to a little more than $101,000 Monday morning (Jan. 20) in Asia.

However, traders are still optimistic that the White House will unveil pro-crypto policy in the short term, focusing on Solana’s SOL tokens, according to the report.

“Launching $TRUMP on SOL proves to be a significant endorsement of the chain, making it plausible that the SOL ETF could gain approval much earlier than expected,” Singapore-based QCP Capital said in a broadcast Tuesday, per the report. “With increased media exposure from similar launches, retail inflows will likely come streaming in.”

While the meme coins made the president and first lady crypto billionairesthey were marketed as expressions of support, not an investment opportunity.

The coins drew criticism from crypto executives who had hoped their sector would be treated seriously under the new administration.

Meanwhile, the financial sector is watching how the new president approaches crypto regulation. The need for clear regulatory frameworks remains one of the most pressing issues facing the crypto sector. During his previous time in office, Trump took a mixed stance on cryptocurrencies. While some officials saw bitcoin and other digital assets as tools for illicit activity, others acknowledged a potential innovation and economic growth.

“This time, Trump has promised a more favorable approach,” PYMNTS wrote Monday, with reports showing that the new president “plans to issue, shortly after taking office, an executive order that would designate cryptocurrency as a national priority, guide government agencies to work closely with the crypto industry, and establish a crypto advisory council that will advocate for the industry’s policy priorities.”