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.
April 29 marks 100 days since Trump took office. During this time, the cryptocurrency market has undergone significant changes—ranging from shifts in 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 has since fallen to $3 trillion, a loss of nearly $600 billion.
Cryptocurrency total market cap changes. Source: CoinMarketCap.
In March 2025, Trump signed an executive order to establish the "cryptocurrency strategy reserve." This reserve includes five cryptocurrency: BTC, ETH, XRP, SOL, and ADA. BTC and ETH serving as the core holdings.
On January 20, 2025, Trump successfully removed former SEC chairman, Gary Gensler. Paul's Atkins was confirmed as the new SEC chairman. On April 11, Trump signed a bill repealing the IRS DeFi cryptocurrency broker rules.
In addition to these changes, the SEC has withdrawn numerous lawsuits. Settlements were reached or investigations dropped involving several cryptocurrency firms and individuals, including Coinbase, crypto.com, Uniswap, CyberKongz, Ripple, Nova Labs, OpenSea, and the founder of Hex.
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