Trump's First 100 Days: What Happened in the Cryptocurrency Market?

TradingKey - In Trump's first 100 days, he implemented a cryptocurrency strategy reserve and replaced the SEC chairman. However, the total market cap dropped by $600 billion.

On April 29, it marked 100 days since Trump took office. During this time, the cryptocurrency market saw many changes. This includes market cap, cryptocurrency strategy reserves, policies, and SEC lawsuits.

According to CoinMarketCap, the total cryptocurrency market cap reached $3.6 trillion on January 20, the day Trump began his second term. It is now at $3 trillion, a loss of nearly $600 billion.

Cryptocurrency total market cap changes. Source: CoinMarketCap.

In March 2025, Trump signed an executive order to create a "cryptocurrency strategy reserve." This reserve includes five cryptocurrency: BTC, ETH, XRP, SOL, and ADA. BTC and ETH are the core reserves.

On January 20, 2025, Trump successfully pushed out the former SEC chairman, Gary Gensler. On April 10, 2025, Paul's Atkins was confirmed as the new SEC chairman. On April 11, Trump signed a bill to repeal the IRS DeFi cryptocurrency broker rules.

In addition to these changes, the SEC has withdrawn many lawsuits. They reached settlements or dropped investigations with several cryptocurrency firms and individuals, including Coinbase, crypto.com, Uniswap, CyberKongz, Ripple, Nova Labs, OpenSea, and the founder of Hex.