President Donald Trump delivered the longest State of the Union address in U.S. history on Tuesday — nearly two hours covering taxes, tariffs, AI policy and housing — yet made no mention whatsoever of digital assets, despite his repeated pledges to make America "the crypto capital of the planet" and his own family's deep involvement in the industry.
What Happened: Crypto Snubbed in Record Speech
The speech touched on nearly every corner of domestic policy, from healthcare to artificial intelligence, but crypto was entirely absent. All of Trump's children attended the address, including sons Donald Trump Jr. and Eric Trump, both of whom have been actively involved in crypto ventures such as World Liberty Financial and multiple token launches.
On the macro front, Trump called the Supreme Court's ruling against his emergency tariffs "very unfortunate" and pledged to maintain them under alternative legal authorities. He first announced a 10% replacement rate, then revised it to 15% days later, though official documents showed the lower rate took effect Tuesday with no directive to raise it.
The European Union suspended ratification of its summer trade deal on Monday. India deferred scheduled talks.
트럼프는 관세가 소득세를 "상당 부분 대체할 수 있다"고 거듭 강조했다.
The federal government collected $2.4 trillion in income taxes in 2024 but brought in only about $300 billion from tariffs — and must now refund roughly half of that under the court ruling. U.S. importers, not foreign governments, pay the tariffs.
On inflation, Trump claimed core inflation fell to 1.7% in late 2025. The Federal Reserve's preferred measure — core PCE — accelerated to 3% in December, well above the 2% target.
AI, meanwhile, earned a dedicated segment. Trump announced a "ratepayer protection pledge" requiring tech companies to build their own power plants for data centers. First Lady Melania Trump's work on AI legislation was also highlighted.
Why It Matters: Rate Relief Unlikely
With inflation running above target and tariff policy in disarray, the Fed is widely expected to hold rates steady for the foreseeable future. The three quarter-point cuts delivered late last year appear to be the last for some time.
For Bitcoin (BTC) and the broader crypto market, the implications are straightforward. No legislative momentum for digital assets emerged despite the president's family being deeply embedded in the industry, unresolved tariff chaos continues to inject macro uncertainty, and a higher-rate environment persists — conditions that weigh on risk assets with no clear end in sight.