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Crypto Industry Celebrates Trump Inauguration with Snoop Dogg and Promises of Policy Changes

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The cryptocurrency industry marked the inauguration of President-elect Donald Trump with a lavish celebration at the historic Andrew W. Mellon Auditorium on Friday night. Dubbed the “crypto inauguration ball,” the event reflected optimism within the crypto community, anticipating significant policy changes under Trump’s administration.

A Gala to Remember

The event featured rap superstar Snoop Dogg, along with performances by Rick Ross and Soulja Boy, entertaining over 1,500 guests dressed in formal attire. Attendees enjoyed a mix of gourmet offerings, including miniature lobster rolls and McDonald’s burgers—Trump’s favorite. Swag included “Make Bitcoin Great Again” hats and Gemini-branded American flag pins, celebrating one of the gala sponsors.

The ball was co-hosted by leading crypto companies such as Crypto.com, Exodus, and the Winklevoss twins’ Gemini exchange. Tickets sold out quickly, with general admission priced at $2,500, while VIP packages at $100,000 offered face time with David Sacks, the incoming “crypto czar” in the Trump administration.

Crypto’s Political Turnaround

The gala marked a striking shift for an industry that had faced significant regulatory hurdles under the Biden administration. Trump, who campaigned as a “crypto president,” is expected to issue executive orders promoting the widespread adoption of digital assets and reducing regulatory barriers.

Jonathan Jachym, Kraken’s global head of policy, highlighted the significance of the event: “The crypto voter showed up in the election, and this event signifies a turning point for crypto policy in the United States.”

Industry Optimism and Policy Changes Ahead

Crypto executives expressed hope for the future under Trump’s leadership. Les Borsai, co-founder of Wave Digital Assets, noted, “If this signifies what the future looks like … I think that’s the optimism we’ve been waiting for.”

Trump’s crypto-friendly policy team is shaping up, with Paul Atkins, a pro-crypto advocate, expected to lead the Securities and Exchange Commission. Bitcoin prices have surged on anticipation of these changes, reaching record highs of over $107,000 in December.

Sponsors like Crypto.com and MicroStrategy emphasized their commitment to working with the new administration to advance innovation in digital assets. Meanwhile, Robinhood and other major players showed their support through sponsorships and participation.

A New Era for Cryptocurrency?

Trump, though absent from the event, expanded his cryptocurrency ventures with the launch of a “meme coin” branded with imagery from his attempted assassination, which quickly reached a market capitalization of $5.5 billion.

As the industry revels in newfound political support, Trump’s administration promises to usher in a new era for digital assets in the United States, fostering innovation and growth in the crypto space.

 

TikTok-Sponsored Party Celebrates Trump Inauguration and App’s Revival in the U.S.

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TikTok influencers, MAGA hats, and free merchandise marked Sunday night’s Power 30 Awards, a celebration honoring President Donald Trump’s return to power and the reactivation of TikTok in the United States. Held at Sax Restaurant and Lounge in Washington, D.C., the event showcased the role of TikTok influencers in Trump’s re-election campaign.

The party, hosted by conservative figures Raquel Debono and CJ Pearson, celebrated social media influencers who played a significant role in reaching younger voters during the 2024 election. Attendees received TikTok-themed swag, including beanies and shot glasses, alongside Trump-branded merchandise.

Trump and TikTok: A Turnaround

TikTok, which ceased operations for U.S. users on Saturday due to national security concerns, began restoring services hours before the event. President Trump, who once sought to ban the app over fears of data misuse by its Chinese parent company ByteDance, announced plans to revive the platform through a joint venture as part of his administration’s efforts.

“Shout out to Donald Trump,” TikTok influencer Bryce Hall, with over 23 million followers, said. “Now he understands the power of Gen Z.”

TikTok also acknowledged Trump’s involvement in restoring the platform, stating, “As a result of President Trump’s efforts, TikTok is back in the U.S.” While the app remained unavailable for download in U.S. app stores, its website and existing services were operational by Sunday evening.

The Role of Influencers in the Election

CJ Pearson, co-chair of the Republican National Committee Youth Advisory Council, hailed the influence of TikTok in mobilizing young voters, saying, “2024 was the first influencer election. Young voters were reached uniquely because of TikTok.”

Although Trump won 43% of voters aged 18 to 29—an improvement of 7 points compared to 2020—his campaign relied heavily on social media platforms like TikTok to connect with Gen Z.

Next Steps for TikTok

TikTok CEO Shou Zi Chew plans to attend Trump’s inauguration and a subsequent rally, sources revealed. The move signals a potential shift in the app’s relationship with the U.S. government, as discussions about data security and a proposed joint venture continue.

The event highlighted the evolving role of social media in politics, particularly the growing influence of TikTok among younger demographics.

 

EU Reassesses Tech Probes Into Apple, Google, and Meta Amid Regulatory Review

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The European Commission is reevaluating its ongoing investigations into tech giants Apple, Meta, and Google under the Digital Markets Act (DMA), according to a report by the Financial Times on Tuesday. The review comes as the implications of U.S. President-elect Trump’s upcoming presidency have reportedly added a new dimension to the regulatory scrutiny.

Sources cited by the Financial Times clarified that Trump’s election victory did not directly trigger the review but is being considered in its context. The ongoing reassessment could result in changes to the scope or intensity of investigations launched since March 2024 under the DMA, the EU’s stringent framework designed to curb market dominance by major tech platforms. This legislation allows for penalties of up to 10% of a company’s annual revenue for violations.

While technical work on the cases will proceed, decisions and potential fines have been paused until the review concludes. Regulators are said to be awaiting political guidance before making final determinations regarding the cases against Apple, Meta, and Google.

The DMA, which took effect in 2022, aims to ensure a level playing field for smaller competitors and to curtail monopolistic practices by Big Tech companies. However, the review’s outcome could reshape how the regulations are enforced.

Meanwhile, Meta recently announced it would discontinue its U.S. fact-checking program as part of a broader overhaul of its content moderation strategies, potentially signaling a shift in approach under CEO Mark Zuckerberg to align more closely with the incoming U.S. administration.

Additionally, Bloomberg News reported that the EU may expand its investigations to include allegations against Elon Musk’s social media platform, X, for potentially breaching EU content moderation rules.

Apple, Meta, Google, and the European Commission have not yet commented on the review or related developments.