Are Trump's 'crypto-friendly' policies meeting expectations?

### Are Trump's 'crypto-friendly' policies living up to expectations? While the cryptocurrency market initially responded positively to President Donald Trump's return to the White House, that optimism has waned over time. Especially in the context of the recent price decline, questions have arisen about how effective his announced 'crypto-friendly' policies are. At a Bitcoin conference in July 2024, Trump pledged to make the United States the 'crypto capital of the world'. He also promised to create a strategic reserve for Bitcoin if elected president. After taking office in March 2025, he announced plans to create a national strategic crypto reserve. It is said to include digital assets such as XRP, Cardano, and Solana in addition to Bitcoin and Ether. At the same time, a policy initiative called the ‘Genius Act’ for the stablecoin sector and a draft to create a regulatory framework for the crypto market were published, which is expected to further clarify the jurisdiction of the relevant agencies if it becomes law. Trump’s personal interest in the crypto sector is also discussed. His family-owned company ‘World Liberty Financial’ is known to have launched a dollar-pegged stablecoin called ‘USD1’. However, despite these initiatives, the crypto market could not be isolated from global economic pressures. History shows that the price of crypto assets, including Bitcoin, depends on policy support as well as global financial conditions, interest rates and market confidence. Examples include strict regulation in 2018 and a major collapse after the FTX exchange scandal in 2022. Analysts also see US monetary policy as a reason behind the recent price decline. The Federal Reserve's decision to keep interest rates unchanged and appoint a new chairman is believed to have had a negative impact on the market. According to crypto market analysts, such a recession or 'crypto winter' usually does not last long. Past experience has shown that the market rebounds after a few months of stagnation. In their words, although the current price drop has disappointed investors, there has been no major change in the fundamentals of crypto assets. Overall, although Trump's announced policies have created positive expectations in the market, in reality the crypto market is still more dependent on global economic realities and investor confidence. As a result, despite policy support, it is not possible to immediately stabilize the market.