The US President Donald Trump delivered an almost two-hour State of the Union deal with on Tuesday — the longest in US historical past — touting financial positive aspects, warning Iran in opposition to pursuing nuclear weapons, and defending his tariff agenda after a Supreme Court docket setback.
But in a speech that touched on taxes, AI, housing, and healthcare, digital property had been totally absent.
All of the Trumps Had been There, however Not Crypto
The omission is putting. All of Trump’s kids had been in attendance, together with sons Donald Jr. and Eric, who’ve been deeply concerned in crypto ventures corresponding to World Liberty Monetary and varied token launches.
The president himself has repeatedly pledged to make the US “the crypto capital of the planet.” None of that made it into the deal with.
Tariff Chaos and Sticky Inflation Preserve the Consumed Maintain
For crypto markets, probably the most consequential alerts had been macro, not legislative.
Trump referred to as the Supreme Court docket’s ruling putting down his emergency tariffs “very unfortunate” and vowed to keep up them underneath different authorized authorities, insisting “congressional action will not be necessary.”
However the rollout shortly turned chaotic. Trump first introduced a ten% substitute price, then revised it to fifteen% days later. But official paperwork present the decrease price took impact Tuesday with no directive to boost it. The EU suspended ratification of its summer time commerce deal on Monday; India deferred scheduled talks.
Trump repeated his declare that tariffs may “substantially replace” earnings taxes. Economists name this implausible. The federal authorities collected $2.4 trillion in earnings taxes in 2024 however took in solely about $300 billion from tariffs — and should now refund roughly half of that underneath the court docket ruling. Additionally, US importers pay the tariffs, not international governments.
On inflation, Trump claimed core inflation fell to 1.7% in late 2025. The fact is extra difficult. The Fed’s most popular gauge — core PCE — accelerated to three% in December, effectively above the two% goal.
With inflation sticky and tariff coverage unresolved, the Fed is extensively anticipated to carry charges regular for the foreseeable future. The three-quarter-point cuts delivered late final 12 months seem like the final for a while. For danger property, together with crypto, the higher-rate atmosphere persists.
AI Will get Consideration, Crypto Does Not
Whereas crypto went unmentioned, AI earned a devoted section. Trump introduced a “ratepayer protection pledge” requiring tech corporations to construct their very own energy vegetation for knowledge facilities, acknowledging the grid “could never handle” surging demand.
First Woman Melania Trump‘s AI legislation work was also highlighted — a sign that AI policy occupies a far more prominent place in the administration’s agenda than digital asset regulation.
The Backside Line
Trump’s record-length deal with was a midterm election pitch constructed on financial optimism. However for crypto contributors, the takeaways are clear: no legislative momentum for digital property regardless of the president’s household being neck-deep within the business, unresolved tariff turmoil injecting macro uncertainty, and a Fed locked in place by sticky inflation. The situations weighing on danger property aren’t more likely to change anytime quickly.
