Trump inauguration live: Latest crypto market updates, analysis, reactions

Welcome to Cointelegraph’s live coverage of Donald Trump’s inauguration as the 47th president of the United States. The crypto world is bracing for potential changes in regulation, innovation and adoption. This live blog brings you minute-by-minute updates, expert insights and commentary on how the new administration might shape the future of blockchain and digital assets.Catch up quickDonald Trump was sworn into office as the 47th president of the United States. His inaugural address ignored digital assets. President Trump is expected to attend three inaugural balls later in the evening. SEC Commissioners Peirce, Crenshaw and Uyeda have issued an official statement on Gary Gensler’s departure as Chair.Crypto market volumes surged on Jan. 20, with Bitcoin briefly hitting all-time highs and Trump’s controversial memecoin approaching $11 billion in market cap.Trump's inaugural address silent on crypto5:51 pm UTC: President Donald Trump's first address to the nation made no mention of digital assets, disappointing those who expected the alleged pro-crypto president to address token regulations and make cryptocurrency a national priority.In his 40-minute speech, Trump focused on immigration, declaring a national emergency at the southern border, and briefly referenced the ongoing hostage deal between Israel and Hamas. He also introduced his proposal for the so-called "External Revenue Service," a plan to collect tariffs and duties from foreign sources.Trump concluded his inaugural speech by asserting that under his leadership, "America will be respected again and admired again."SEC gives statement on Gensler’s departure5:47 pm UTC: The United States Securities and Exchange Commission (SEC) issued a statement on Gary Gensler’s resignation as Chair of the federal regulator. SEC Commissioners Hester Peirce, Caroline Crenshaw and Mark Uyeda lauded Gensler for his “extensive experience and knowledge of the financial markets.”“Although as Commissioners we approached policy issues from different perspectives, there was always dignity in our differences,” the statement read. “Chair Gensler has been committed to bipartisan engagement and a respectful exchange of ideas, which has helped facilitate our service to the American public.”On Nov. 22, Gensler announced his intent to step down as Chair just as President Trump took office. His tenure was marked by fierce battles against the crypto industry, including lawsuits against crypto exchanges Coinbase and Binance, as well as a crackdown on unregistered securities offerings.On Dec. 4, Trump nominated the pro-crypto Paul Atkins to head the SEC as Gensler’s replacement. Related: Biden’s crypto legacy: A mixed bag as Trump takes officeTrump is sworn into office as the 47th president5:10 pm UTC: Donald Trump was officially sworn in as the 47th president of the United States, making history as the second leader to serve nonconsecutive terms and the first convicted felon to hold the office.Trump’s World Liberty Financial sells more marked-up tokens after sold-out presale4:53 pm UTC: The Donald Trump-backed decentralized finance platform World Liberty Financial announced in the early hours of Jan. 20 that it had completed the initial sale of its token, along with the offer of an additional supply at a 230% markup due to “massive demand.”“We’ve completed our mission and sold 20% of our token supply,” World Liberty Financial said in a Jan. 20 X post. “Due to massive demand and overwhelming interest, we’ve decided to open up an additional block of 5% of token supply.”The Trump family’s DeFi platform launched in September and initially aimed to sell 20% of the 100 billion total World Liberty Financial (WLFI) tokens it created. The project’s website shows it has now added an additional 5 billion tokens for sale at 5 cents each.On Jan. 20, rumors surfaced alleging that the platform was engaging in a TWAP (Time-Weighted Average Price) buying strategy for Bitcoin (BTC) and Ethereum (ETH).Tech billionaires appear for inauguration 4:06 pm UTC: Amazon founder Jeff Bezos, Meta CEO Mark Zuckerberg, and Apple CEO Tim Cook were reported to have entered St. John’s Church next to the White House as part of a pre-inauguration proceeding.Before Donald Trump announced his swearing-in ceremony would take place inside the US Capitol Building, several executives from cryptocurrency companies who donated to the inauguration fund were expected to attend. Reports suggest that anyone watching from the grounds of the National Mall will not be able to view the ceremony on jumbotron screens.Trump’s pre-inauguration weekend marked by memecoin mania3:58 pm UTC: Just days before his inauguration, Trump launched the OFFICIAL TRUMP memecoin on Solana, triggering a spike in trading volume on the blockchain. The price of the token soared immediately after launch, reaching an all-time high above $74. Despite giving back some of its gains, the TRUMP token has a total market capitalization of around $10.8 billion in the hours before the inauguration. Trading volumes over the last 24 hours reached $41 billion, according to CoinMarketCap.The Trump memecoin has spurred allegations of insider trading amid reports that a crypto wallet was funded with $1 million in the hours before the token’s launch. The same wallet purchased $5.9 million worth of TRUMP tokens in the first minute the memecoin started trading and later sold $20 million. Preetam Rao, the CEO of Web3 security company Preetam Rao, told Cointelegraph that 10 holders own 89% of the TRUMP token’s supply. Rao said, “We can see some insider traders involved, but I feel if the US government is supporting projects to set a roadmap for innovation in the country. Maybe it’s a rug pull, but it lays the foundation for innovation.”BTC price nears $110K after Trump Bitcoin reserve odds spike to 60%3:40 pm UTC: Bitcoin spiked to new all-time highs on Jan. 20 as analysis warned of a BTC price reversal and the possibility of President-elect Donald Trump “creating a Bitcoin reserve in first 100 days” spiked on Polymarket.Data from Cointelegraph Markets Pro and TradingView confirmed a new Bitcoin (BTC) record high of $109,356 on Bitstamp.Trump’s inauguration set the tone for more instability on the day. Pro-crypto policy announcements and new all-time highs had long been anticipated.Vivek Ramaswamy to exit Trump's DOGE task force3:19 pm UTC: Vivek Ramaswamy, President-elect Donald Trump’s pick to co-lead the Department of Government Efficiency (DOGE) alongside Elon Musk, is expected to step down soon, CBS News reported on Jan. 20. Multiple sources confirm that Ramaswamy plans to launch a campaign for Ohio governor by the end of January. His departure follows allegations of internal friction, with Musk’s allies frustrated over his lack of involvement. Sources suggest Ramaswamy was subtly encouraged to exit due to tensions with DOGE staff.The DOGE is set to face a lawsuit alleging violations of the Federal Advisory Committee Act (FACA) of 1972. The legal action is expected to be filed shortly after President-elect Donald Trump's inauguration.Trump’s inauguration2:23 pm UTC: Donald Trump will take his oath of office on Jan. 20 at 12:00 pm ET. The president-elect announced last week that the Inauguration Address will take place indoors due to extreme weather caused by the “Arctic blast sweeping the country.”“Therefore, I have ordered the Inauguration Address, in addition to prayers and other speeches, to be delivered in the United States Capitol Rotunda, as was used by Ronald Reagan in 1985, also because of very cold weather,” said Trump.According to NPR, Trump’s inauguration will be attended by tech moguls Elon Musk, Mark Zuckerberg, Jeff Bezos, Sam Altman and TikTok CEO Shou Zi Chew. Trump’s transition team also confirmed that Chinese Vice President Han Zheng will also attend the ceremony.