How many of Trump's past campaign promises do you think he actually fulfilled?
TechFlow Selected TechFlow Selected
How many of Trump's past campaign promises do you think he actually fulfilled?
A Review of Trump's Past Campaign Promises: Can His Commitments to the Crypto Industry Be Fulfilled?
Navigating Web3 tides with focused insightsAuthor: jk, Odaily Planet Daily
As of July 2024, most observers widely predict that Donald Trump winning this year’s U.S. presidential election is merely a matter of time. From the perspective of the crypto world, Trump appears significantly more crypto-friendly than current U.S. President Joe Biden. He has engaged amicably with prominent figures in the crypto industry, selected a vice-presidential running mate supportive of crypto, and made numerous pro-crypto commitments.
However, critics have also emerged: On July 11, Arthur Hayes stated that Trump's "sudden interest" in cryptocurrency is insincere.
Hayes said,
Appealing to the young, politically active, and newly wealthy cryptocurrency community might help Trump win the election. Thus, Trump is saying all the “right things” to improve his image among crypto supporters. Unfortunately, this newfound political attention has already caught the eye of many in our industry. The political “hot chicks” are now trying to take us home, not the other way around. These feelings are misplaced. The playboy of cryptocurrency isn’t a movie star—it’s the awkward guy standing at the edge of the party.
It frustrates me that many crypto experts who should know better are now blindly hosting flashy fundraising events for Trump’s campaign. They mistakenly believe Trump is sincere and that if they donate enough money, the 'war on crypto' will vanish. This is pure nonsense. Trump is a shrewd politician. He will say anything to anyone who wants him re-elected. Once in office, anything related to cryptocurrency will quickly become a distant memory.
So let Odaily Planet Daily take a look back at history: Trump has run for U.S. president multiple times—how well did he keep his past political promises? How many were actually fulfilled? Especially in the areas of economy and new technology, the rate of fulfillment may serve as an indicator of how seriously to take his current stance toward the crypto sector.
How Many of Trump’s Past Campaign Promises Were Fulfilled?
Trump made numerous promises during his previous campaigns. Analysts typically focus on those that were serious, publicly stated, and repeated multiple times. According to data from the nonpartisan website PolitiFact, during his previous term as president, Trump fully kept about 23% of his promises, partially fulfilled or compromised on 22%, and broke approximately 53%. In other words, when it comes to honoring campaign pledges, the data seems to support Arthur Hayes’ skepticism.
Percentage of Trump’s promises kept. Source: PolitiFact
In the economic domain, the promises Trump successfully fulfilled during his previous term include:
-
Not cutting Social Security payments (he attempted to cut them but was blocked by Congress)
-
Imposing higher tariffs
-
Renegotiating the North American trade agreement
-
Reducing certain taxes
-
Withdrawing from the TPP
Promises that were not fulfilled include:
-
Investing in U.S. infrastructure and establishing an infrastructure fund
-
Achieving annual economic growth of 4%
-
Bringing manufacturing back to the U.S.
-
Cutting federal spending
-
Reducing federal debt and trade deficits
-
Reducing the number of tax brackets from seven to three
-
Removing China from the WTO
-
Building a wall across the U.S.-Mexico border and making Mexico pay for it
While we cannot make definitive predictions based solely on this data, it is clear that when issues fall within the full authority of the Trump administration, some can indeed be addressed. However, deeper structural challenges—such as U.S. government debt—are far less likely to be resolved.
What Are Trump’s Current Promises Regarding Cryptocurrency?
Currently, Trump’s stated commitments in the crypto space can be summarized as follows (sources: CNBC, Bloomberg):
-
Trump invited holders of his NFT collection to his home in Florida and promised that, if re-elected, he would end regulatory hostility toward the industry;
-
At the Libertarian National Convention, he pledged to release Ross Ulbricht, who was convicted for creating the darknet marketplace Silk Road;
-
At the same event, he vowed to keep Senator Elizabeth Warren (a proponent of strict crypto regulation) and “her enforcers” away from Bitcoin holders.
-
In June, after meeting with executives from several Bitcoin mining companies, Trump announced that if he returns to the White House, all future Bitcoin will be minted in the United States. (This should not be considered a firm commitment.)
Among these, actions such as ending regulatory hostility—possibly through replacing figures like Gary Gensler—and releasing Ross Ulbricht fall within the executive powers of the presidency. Based on past performance, these could realistically be achieved if Trump returns to office.
Notably, this represents a stark reversal from Trump’s own position just five years ago. In 2019, Trump tweeted: “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”
Trump’s 2019 tweet. Source: Bloomberg
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
Odaily
