President Trump Has Absolutely No Idea What He’s Doing When It Comes to Crypto
We all remember where we were when president Donald Trump stood in front of a large crowd and promised to create a “crypto army” to defeat former president Joe Biden in the presidential race of 2024. It was the start of a revolution. I could not believe my ears.
But then Trump took it a step further by promising to free Ross Ulbricht, the founder of Silk Road and the crypto community’s favorite hero, after his mother pleaded with him at a campaign. It was surreal, but he didn’t stop.
Trump kept talking about us, about Bitcoin, and promising to free the industry from the shackles that Biden and specifically former SEC chair Gary Gensler had it in.
Donald Trump with Tyler and Cameron Winklevoss. Source: Tyler Winklevoss.
It felt glorious, and the crypto elites all rallied around him almost instantly, because finally, here was a guy running for the most powerful job on the planet, saying with his own mouth, that he’ll stand by crypto enthusiasts. It’s never happened before, so of course we all fell for him, including myself.
When he got shot at during that fateful campaign rally in Butler, Pennsylvania, the crypto community was beside itself with horror. Here was our hero, missing death by just a few inches. If they had gotten him, it would have been over for us.
But they didn’t, and after he got back on his feet, Trump promised to fire Gary on “Day 1,” he also promised to mine all of the remaining Bitcoins in the world in America, while on a mission to make it the “crypto capital of the planet.”
President Trump with David Sacks and Bo Hines, signing the executive order for a Bitcoin strategic reserve in the Oval. Source: David Sacks Twitter/X.
Gemini’s Winklevoss twins, Ripple executives, Cardano’s Charles Hoskinson, Strategy’s Michael Saylor, Coinbase’s Brian Armstrong, and many others in the industry donated to his campaign. And after an outstanding run, beating both Biden and his supposed successor Kamala Harris, Trump won the election.
He became president again, making history as both the first person to ever do that and also the first person to call himself “crypto president,” a title we’d seemingly reserved for El Salvador’s president Nayib Bukele. But seeing as Nayib is a huge fan of Trump himself, we don’t think he cares very much about that at all.
January, the first disappointment
Precisely two days before Mr. Trump’s inauguration, he decided to launch a meme coin, calling it $TRUMP. Then less than 48 hours later, his wife Melania also launched hers, $MELANIA.
Both turned out to be sloppy rug pulls, and investors lost billions, while Trump and his backers allegedly made $350 million cumulatively.
Trump had promised us a national Bitcoin reserve during the campaign, inspired by the ever-iconic Senator Cynthia Lummis, but the executive order for that didn’t come until January 23rd, and he called it a “Digital Asset Stockpile.”
It didn’t mention Bitcoin at all, just stablecoins because apparently, they are the key to keeping the Almighty dollar on top. He then said he was gonna ban CBDCs too.
Of course the industry found all that weird and while we were all scrambling to understand exactly what our hero is doing, we failed to see that he actually has absolutely no idea what he’s doing himself. Trump’s exact words were:
“We’re promoting and protecting the sovereignty of the United States dollar, including through actions to promote the development and growth of lawful and legitimate dollar-backed stablecoins worldwide.”
There was a ton of backlash, but then he’d free Ross, so the community decided to wait on him a bit, give him the benefit of the doubt. And boy, it is a little embarrassing to see how wrong we were.
February, the second disappointment
The elites clearly applied some financial pressure on Mr. Donald Trump, because out of nowhere whilst in the middle of unnecessary trade wars with three different countries, the president finally announced that he was launching a crypto strategic reserve.
But get this, his first announcement only mentioned SOL, ADA, and XRP, which was a little weird. Though after being called out, he threw us a bone by going like, “Oops, yes, Bitcoin too, and Ether. I love them!” That was March 6th.
On March 7th, he hosted the first-ever White House crypto summit, with attendees like Brian, Brad Garlinghouse, Crypto Czar David Sacks, Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, Michael Saylor, and Tyler and Cameron Winklevoss.
(From the left) Howard Lutnick, Scott Bessent, Donald Trump, David Sacks, Bo Hines, Brian Armstrong, and Michael Saylor at the crypto summit. Source: White House X/Twitter
But even that was nothing but pure disappointment. The Bitcoin reserve’s executive order had said that the US wouldn’t be buying any more Bitcoin but would instead use the ones it already got, through forceful seizures over the years.
At the summit, Trump said America wouldn’t sell any of its Bitcoin, then followed up with a reality-inducing comment:
“From this day on, America will follow the rule that every Bitcoin [holder] knows very well. Never sell your Bitcoin. And that’s a little phrase that they have. I don’t know if that’s right or not. Who the hell knows, right?” he said.
Take a look at Bitcoin maxi Saylor’s reaction to that in the picture below. It’s the same as this author’s:
While Trump was signing the executive order in the Oval with David Sacks, David was explaining to him that this order will be fulfilling the promises he made to make America the crypto leader and free crypto users, Trump said: “I said that? And this is something you believe in, right?”
The truth of the matter is Trump never had any real plan for crypto, he doesn’t understand anything about it, or how it even works. And he could care less about our beliefs. He’s actually more of a crypto hostage than hero at this point.
He’s not quite sure what to do with us, but since our elites have spent hundreds of millions of dollars and sees more coming via alleged insider trades, he has no choice but to humor us every once in a while, kind of like he’s doing with Elon Musk, but hey, that’s a different story for a different article.
Trump is not the hero crypto wanted, but he’s the one we got, and we’re stuck to him now.
Pi Network Issues Final KYC Deadline: Mainnet Migration Set for March 14
Pi Network has issued a final notice to users: March 14, 2025, is the definitive deadline to complete KYC verification and migrate to the mainnet.
This is designed to ensure a robust and decentralized network through a conclusive migration process. Notably, this date marks the sixth anniversary of the project.
Upon completion of the KYC mandate, Pi Network users – known as “pioneers” – will be able to access and use their Pi holdings on the open mainnet. This access enables external trading and real-world applications.
The extension allows early adopters who missed previous deadlines to finalize their migration. Still, Pioneers who fail to complete the required steps risk losing most of their mobile balance. The exception is Pi mined in the last six months before migration.
Related: Pi Network Price Plunge: What’s With the Pi Coin’s Wild Price Swings?
According to the official blog post, Pi Network’s team cites “inclusivity, accessibility, and network integrity” as primary reasons for the final extension. The extra time will:
Despite multiple extensions, Pi’s roadmap remains unchanged. The project maintains a clear vision to build a sustainable ecosystem driven by real users.
Meanwhile, speculation is brewing that Binance could finally list Pi Network’s native token.
The crypto exchange has introduced a new community-driven listing mode. This mode allows users to vote for new tokens with as little as 0.01 BNB.
Related: Pi Network Price Forecast for Feb 25: Binance Listing & Scam Claims in Focus as Price Stalls at $1.57
Rumors suggest Binance’s marketing team is preparing for a major campaign surrounding Pi’s potential listing. While no official announcement has been made, sources claim that Binance and Pi Network have reached an agreement for a special event. Should this prove true, it could be the breakthrough moment Pi holders have been waiting for.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
New Arkham Feature Exposes Crypto Influencers’ Wallets and Celebrity Meme Coin Backers, Revealing...
Influencers’ Token Holdings Can Now Be Tracked Using Arkham’s New Feature
Arkham Intelligence has introduced a groundbreaking feature that allows users to track the wallets of Key Opinion Leaders (KOLs) on X (formerly known as Twitter).
This innovation arrives at a time when the market is flooded with new meme coins leveraging token launchpads for quick launches.
The new “Key Opinion Leader (KOL) Label” tracks influencers with more than 100,000 followers on X, enabling investors to see whether influencers truly support the tokens they promote or are simply engaging in paid promotions.
ANNOUNCING THE KEY OPINION LEADER (KOL) LABEL Influencers with more than 100K+ followers on Twitter/X are now tagged on Arkham with a new label: Key Opinion Leader. Track the wallets of biggest KOLs with the link below: pic.twitter.com/xOEfUUxywe
— Arkham (@arkham) March 8, 2025
The announcement read:
“Influencers with more than 100K+ followers on Twitter/X are now tagged on Arkham with a new label: Key Opinion Leader.”
This development has sparked considerable debate within the crypto community, especially regarding its potential to expose influencer-endorsed meme coin schemes.
One user even remarked that the top-listed influencers could be the industry's biggest scam artists.
Biggest scammer on top! Lol Now everyone can watch your wallets. BUT they should know y’all have multiple ones. Lol
— Geno Montagna 🌹𓅇 (@CryptoYeo) March 8, 2025
Worries Mount as Influencer-Backed Tokens Surge
Arkham's introduction of the KOL Label comes at a time when the reliability of influencer-backed tokens is under increasing scrutiny.
A recent study revealed that 76% of tokens endorsed by influencers fail, with their value often plummeting by over 90% within just three months.
The report also highlighted that influencers can earn up to $399 per promotional tweet, incentivising some to prioritise financial gain over the credibility of their endorsements.
Many of these tokens, it turns out, lack fundamental utility and community support, leading to predictable crashes.
The report claims:
“Influencers with over 200,000 followers tend to have the worst performance. The larger the influencer’s following, the lower the performance of the meme coins they promote.”
With Arkham's new tracking tool, investors can now examine whether influencers actually hold the tokens they promote, offering a much-needed layer of transparency in an industry often plagued by misinformation and deceptive marketing tactics.
One user on X aptly commented that this development is where transparency meets influence.
Interesting move—transparency meets influence.
— Synergy Media (@SynergyMedia_) March 8, 2025
The feature allows users to track influencers' wallet activities, potentially revealing red flags such as influencers dumping tokens shortly after promotion.
This could help distinguish genuine endorsements from misleading promotions, giving investors more control in an often volatile market.
Experts like Tron founder Justin Sun stress the importance of understanding tokenomics, fundamentals, and risk management when navigating the unpredictable meme coin space.
Sun elaborated:
“I will check on the real social engagement. Are those likes real, or it’s just general bullshit? Do they have lots of influence, and the people really believe them? Also, I will see the founders, see their material, and see the memes they made and the videos they made. I will see if this is the right video and the right social engagement.”
The introduction of Arkham’s KOL Label encourages investors to move beyond influencer endorsements and focus on careful due diligence.