Here’s what Trump promised the crypto industry ahead of the election
Former President Donald Trump arrives for his campaign rally at the Trump National Doral Golf Club in Doral, Florida, on July 9, 2024.
Joe Raedle | Getty Images News | Getty Images
As Donald Trump celebrated his prospective victory on Election Night at Mar-a-Lago, he was joined by a roster of high-profile supporters. Among them were Elon Musk, Robert F. Kennedy, Jr. and Cantor Fitzgerald CEO Howard Lutnick.
One thing those three people have in common: crypto.
It’s an industry that Trump talked little about until recently but has counted on for large amounts of cash for his campaign and related PACs. Getting that money required him to make big promises pertaining to the crypto industry.
Digital asset markets surged on Election Night, with bitcoin hitting a record of over $75,000, as his victory began looking likely. Crypto-linked stocks like Coinbase and MicroStrategy moved higher as well in after-hours trading Tuesday.
With a Republican-controlled Senate on the horizon, Trump has few roadblocks to putting in place a more pro-crypto platform. Here are some of the things he’s pledged to do:
Strategic national crypto stockpile
In Nashville in July, Trump headlined the biggest bitcoin conference of the year. In his keynote address, the former president said that if he returned to the White House, he would ensure the federal government never sells off its bitcoin holdings. However, he stopped short of proposing a formal federal reserve of digital currency.
“For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin,” Trump said during his keynote speech.
Trump pledged to maintain the current level of bitcoin holdings that the U.S. has amassed from seizing assets from financial criminals.
“If I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future,” he said.
Currently, the U.S. Marshals Service regularly auctions off bitcoin as well as other cryptocurrencies held in the country’s coffers such as ether and litecoin. These sales can sometimes trigger drops in crypto prices, like earlier this year when Germany began to liquidate hundreds of millions of dollars worth of bitcoin it had seized.
‘On day one, I will fire Gary Gensler’
In public remarks for months, Trump has promised to unseat U.S. Securities and Exchange Commission Chairman Gary Gensler.
“On day one, I will fire Gary Gensler,” Trump said, referencing the Joe Biden-appointed SEC chairman who has taken an aggressive approach to crypto regulation.
The president does not have the power to fire the SEC chair. Even if Trump were to appoint a new chairman, Gensler would remain a commissioner on the independent agency.
Gensler has brought more than 100 actions against crypto firms during his tenure at the helm of the commission. In multiple interviews, the SEC chair has said he believes much of the industry already belongs under its jurisdiction, and its lawsuits are simply bringing the sector under compliance.
Crypto firms argue that the recent legal battles haven’t given the regulatory clarity the industry has been seeking, and they instead reflect a gross overreach by the commission.
Trump also vowed to create a “bitcoin and crypto presidential advisory council.”
“The rules will be written by people who love your industry, not hate your industry,” he said.
Trump has expressly spoken out about his qualms with Sen. Elizabeth Warren, D-Mass., who is widely viewed by the crypto community as an existential threat.
All bitcoin will be mined in America
In June in Palm Beach, Florida, about a dozen bitcoin mining executives and experts sat down with Trump for an hour and a half in a small tea room at the Mar-a-Lago Club. The closed-door session marked the first time the former president took a meeting with the technologists securing the $1.5 trillion bitcoin network by running large banks of high-powered machines.
The intimate gathering brought together a coalition of some of the biggest private and public American miners in the business, including representatives from Riot Platforms, Marathon Digital Holdings, Terawulf, CleanSpark and Core Scientific.
Less than four hours after Trump’s roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business.
“Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!” Trump posted on Truth Social shortly after his meeting.
Since then, Trump has on multiple occasions reiterated the sentiment.
“If crypto is going to define the future, I want it to be mined, minted and made in the USA,” Trump declared in Nashville.
“We will be creating so much electricity that you’ll be saying, ‘Please, please, President, we don’t want any more electricity. We can’t stand it!'” he added.
Fed rate cuts
In August, Trump said that, if elected, he would lower interest rates.
The Federal Reserve, which guides the country’s monetary policy, sets the benchmark rate. It also, by design, operates independently from the White House.
Fed Chair Jerome Powell in September decided to slash rates by a half point in its first easing campaign in four years.
Rate cuts and the easing of monetary policy historically dovetails with a surge in crypto prices since it makes it cheaper to borrow money.
South Dakota’s Public Utilities Commission (PUC) has approved a 260-megawatt (MW) wind farm that will become one of the largest in the wind-friendly state.
Invenergy is developing the 68-turbine South Deuel Wind Energy Center on 29,000 acres in Deuel County in the state’s northeast. When it comes online in Q4 2026, it will be capable of powering more than 103,000 US households. Construction is expected to begin late this summer.
In 2021, Invenergy completed the 109-turbine Deuel Harvest Wind Farm (pictured), six miles north of South Deuel, which it sold to Atlanta-based Southern Power.
Invenergy says the new South Dakota wind farm will pump $78 million into landowner payments over the next 30 years, while local governments will see $38 million in property tax revenue. On the jobs front, the project is expected to create 243 construction jobs and support eight long-term operational roles.
South Dakota is one of the most wind-friendly states in the US. In 2023, wind provided 55% of South Dakota’s total electricity generation, a larger share than any other state except Iowa, according to the US Energy Information Administration (EIA). Wind exceeded hydropower’s contribution to South Dakota’s in-state electricity generation for the first time in 2021, and it generated nearly three times as much electricity as hydropower in the state in 2023. In the same year, renewables generated 77% of South Dakota’s total in-state electricity net generation (including small-scale solar).
Read more: Offshore wind roars back in 2025 with 19 GW of additions and China in the lead
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![Kia EV4 GT looks like the affordable electric sports car we've been waiting for [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/03/Kia-EV4-GT.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Less than a week after Kia unveiled the EV4, we are already getting our first look at the sporty GT model. When it arrives, the GT variant is expected to be one of the most affordable electric sports cars and what could be Kia’s most powerful vehicle yet. But can it keep up with the Tesla Model 3 Performance?
The EV4 is Kia’s first electric sedan and hatchback. During its EV Day last week (see our recap), Kia showcased four EV4 models, two sedan and two hatchback trims.
Each had a standard and GT-Line model. Now, we are getting our first look at the high-performance GT version. Remember when the EV6 GT arrived in 2022 as “the most powerful Kia production vehicle ever?”
With 576 horsepower, the sporty EV6 GT can sprint from 0 to 60 mph in just 3.4 seconds. That’s faster than your average Ferrari or Lamborghini, and it’s about half the cost starting at just over $60,000.
Well, the EV4 GT will likely be an even bigger hit with an expected lower price tag and what could be even more power.
After Kia’s electric sports car was spotted in public for the first time, we are learning a few upgrades you can expect to see. The video, courtesy of HealerTV, shows a camouflaged model testing in Korea. However, the orange light on the side of the bumper indicates it is actually an export model.
First look at the Kia EV4 GT electric sports car
At a quick glance, it looks just like the EV4 GT-Line. Looking closer, you can see Kia upgraded the EV4 with sporty wheels (what appears to be 20″), giving it a similar look to the K8.
The interior will feature Kia’s new ccNC (connected car Navigation Cockpit), which includes dual 12.3″ driver display and infotainment screens with wireless Apple CarPlay and Android Auto.
You can expect to see the most significant differences in the interior and in performance. Like Kia’s other GT models, the EV4 is expected to feature a dual-motor AWD powertrain, but exact specs will be revealed closer to its official launch.
The upgraded EV6 GT, launched in Korea in November, now packs 641 horsepower and 561 lb-ft of torque (when Launch Control is active), thanks to improved front and rear electric motors.
It also gets redesigned front and rear bumpers, suede-trimmed sport bucket seats, and a heat pump (standard on all AWD trims).
Like Hyundai’s IONIQ 5 N, the new EV6 GT includes a Virtual Gear Shift (VGS) that simulates the sounds and feel of a sports car engine. We got a look at it in action in December after HealerTV got their hands on one to try it out.
We’ll have to wait for the official word on prices, but with the EV4 slotted below the EV6 in Kia’s lineup, the GT model will likely cost around $50,000 to $55,000. That’s much less than your average sports car. The standard EV4 is expected to hit the market later this year, starting at around $35,000 to $40,000.
In comparison, the Tesla Model 3 Performance AWD starts at $54,990 with 510 horsepower, good for a 0 to 60 mph sprint in 2.9 seconds.
Would you buy Kia’s electric sports car for around $50,000? Drop us a comment below and let us know what features and specs you’d be looking for. Check back soon for more. We’ll keep you updated with the latest.
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