Trump's newly launched memecoin, TRUMP, saw a rapid increase of 490% in value within 24 hours, raising its market cap to nearly $11 billion.

Allaire believes that repealing restrictive regulations could enhance the integration of digital assets into traditional finance.

Bitcoin has surged nearly 50% in value since Trump's election in November, driven by investor expectations of favorable policies.

On the day of Trump's inauguration, Bitcoin's price experienced significant volatility, reaching a record high of $109,000 before stabilizing around $103,500.

During the Reuters Global Markets Forum at the World Economic Forum in Davos, Allaire urged for the reversal of restrictive measures like the SEC's bulletin that penalizes banks for holding crypto assets.

Allaire believes that repealing the SEC's Staff Accounting Bulletin 121 is a critical focus for upcoming executive orders, as it currently hinders banks from holding cryptocurrencies.

Recent data shows strong institutional interest in digital assets, with Bitcoin exchange-traded products (ETPs) seeing $1.9 billion in inflows.

Circle has actively advocated for regulatory reforms in the crypto sector, symbolized by a $1 million donation to Trump's inauguration committee.

Following his inauguration on January 20, 2025, President Donald Trump has pledged to be a 'crypto president,' aiming to reduce regulatory hurdles and promote digital asset adoption.

Circle CEO Jeremy Allaire is optimistic about Trump's potential to implement pro-crypto policies, which could include removing barriers to digital asset adoption.

Faryar Shirzad from Coinbase predicts swift regulatory actions under the new administration, which may encourage banks to engage more in custodial services for cryptocurrencies.

Expectations for increased legislative activity related to digital asset regulations are high, with Allaire noting that Congress is likely to be active in the coming weeks.