Trump promises to do 11 things for the cryptocurrency circle! But in the past, the rate of breaking promises was as high as 80%, will he break his word this time?

With the general election results in the United States largely settled, Trump has been leading all the way during the vote-counting process, firmly on his way back to the White House. The price of BTC has reached a new high, and the cryptocurrency market has ushered in a celebratory trend. Looking back at Trump's promises to cryptocurrency voters during the campaign, he made two major commitments: first, he will release the founder of the darknet 'Silk Road', Ross Ulbricht; second, he will 'fire' Gary Gensler, the chairman of the Securities and Exchange Commission (SEC).

Release of Darknet's 'Silk Road' founder Ross Ulbricht

As early as May this year, Trump briefly mentioned Cryptocurrency policy in a speech, promising to support the Cryptocurrency industry from the "first day in office" and vowing to "commute the remaining sentence of Ross Ulbricht" to set him free.

According to reports, Trump considered pardoning Ross Ulbricht at the end of his first presidential term, but it was not executed. Trump's promise at the time led to a crowd shouting 'Free Ross', which also contributed to Trump's appeal to members of the third largest political party in the United States, the Libertarian Party.

Ross Ulbricht is currently serving a life sentence without parole for creating and operating the Silk Road darknet, a website closely associated with the early history of Bitcoin. He previously posted on social platform X, saying:

Last night, Donald Trump promised to pardon my sentence on his first day in office if re-elected. Thank you. Thank you. After 11 years in prison, the feeling at this moment is indescribable. Thanks to your unwavering support, I may have a second chance. Fire Gary Gensler on the first day in office.

Trump reiterated this commitment at the '2024 Bitcoin Conference' held in Nashville in July. He further catered to the crypto world community by promising to 'fire Gary Gensler, Chairman of the U.S. SEC, on the first day of office' if elected.

This commitment is so popular in the community that even Trump admitted that he did not realize that 'Gary Gensler is so popular', and the reason why this SEC chairman is regarded as the 'enemy of the crypto world' is because he leads the SEC to enforce instead of regulate, targeting many successful cryptocurrency businesses.

Recently, Trump has further advocated to 'confront' Gary Gensler and SEC, endorsing a Decentralized Finance project called 'World Liberty Financial', which aims to provide Decentralized Finance lending services and eventually enter the tokenized real estate field.

World Liberty Financial has recently started selling Tokens, aiming to raise 300 million US dollars, but only limited to sales to qualified investors in the United States.

Therefore, Trump wants to fire Gary Gensler not only because he knows it will bring him votes, but also because he has a direct investment in a Cryptocurrency project, hoping to greatly promote more friendly Cryptocurrency regulation by firing Gary Gensler.

To return BTC to "Made in the USA", the US government is not allowed to sell BTC

Trump also stated that he wants to 'Make BTC Manufactured in the USA' and hopes that BTC will be manufactured and mined in the USA rather than in China. As a result, the cryptocurrency community believes that Trump's victory is at least short-term advantageous to the cryptocurrency industry.

Trump also mentioned at the time that if he were elected, he would 'not allow the US government to sell (seized) BTC' and claimed that 'BTC will become a strategic reserve asset for the United States,' emphasizing that if the US does not accept BTC technology, China and other countries will dominate the cryptocurrency market, and the US cannot let China take the dominant position.

In addition, Trump's promises to the US cryptocurrency industry include:

Prohibit the US government from creating Central Bank Digital Currency (CBDC), also known as "digital dollar";

Form the 'BTC and Cryptocurrency Advisory Committee', this matter will be completed within 100 days;

Establish a dedicated 'Cryptocurrency policy working group';

Ensure that every American has the right to independently custody their digital assets and freely trade without government surveillance and control;

Will not suppress forward-looking industries, but will actively support them, including making the United States the "global center of Cryptocurrency and Bitcoin";

End the 'illegal' and 'non-American' suppression of Cryptocurrency by the Democratic Party;

Defend the right to BTCMining;

Will Trump break his promise?

However, it is necessary to be wary of Trump's possible 'words not matching actions', because he has made various promises in the past, but the record of whether they were fulfilled or not has been widely criticized by the media, with a 'backtracking rate of over 80%'.

For example, he fulfilled some promises during his first presidential term, including tax cuts, withdrawal from the Paris Climate Agreement, increased military spending, and deregulation. At the same time, some trade agreements and other commitments were partially fulfilled. However, Trump did not fulfill promises regarding U.S. debt, reforming Obamacare, and deporting illegal immigrants.

In other words, there is still some uncertainty whether Trump can fulfill his promises to the Crypto Assets industry.

Due to Trump's clear position on Cryptocurrency, the market is hopeful. According to the research institution Bernstein's prediction, if Trump wins, the price of BTC will reach $80,000 to $90,000.

Disclaimer: The market carries risks, and investment should be cautious. This article does not constitute investment advice. Users should consider whether any opinions, perspectives, or conclusions in this article are applicable to their specific circumstances. Investing based on this is at your own risk.

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