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Day one The uproar around the memecoins quieted somewhat as Trump was sworn in, and crypto enthusiasts eagerly anticipated that he would make good on his day one promises. Yet crypto prices reflected the disappointment among those in the crypto industry when neither bitcoin nor crypto earned a mention in his inauguration address. Promises to pardon Libertarian and crypto martyr Ross Ulbricht “on day one” also went unmet. Rumors of an immediate crypto executive order remained only rumors as the day came and went, with Trump instead focusing his priorities on orders seeking to end birthright citizenship, declaring a “national emergency” at the US–Mexico border, eliminating government diversity programs, and pausing the TikTok ban. The one day-one executive order that pertained somewhat to crypto was one demanding an end to “weaponization of the federal government”. Although it highlighted cases to do with January 6 and the Black Lives Matter protests, the Securities and Exchange Commission earned a shout-out as one of the named agencies whose actions should be “reviewed” to “identify any instances where a department’s or agency’s conduct appears to have been contrary to the purposes and policies of this order” — a likely nod to the crypto industry.10