Trump doubles down on crypto and Wall Street ambitions with more promises

Donald Trump walked into the New York Stock Exchange (NYSE) today with the swagger of a man who just won it all — again. Fresh off a historic comeback and solid Republican control of Congress, the president wasted no time pushing his economic agenda. He even rang the opening bell himself. This first public act was no coincidence.

The NYSE, the heart of American capitalism, became the stage for him to reiterate all his bold promises: slashing corporate taxes, ramping up crypto innovation, and making America the global leader in artificial intelligence.

“We’re going to do something great with crypto,” the ‘crypto president’ declared. He then casually took a jab at China while also shouting out its president, Mr. Xi Jinping, whom he likes very much now apparently.

Tax cuts, tariffs, and Wall Street fanfare

Flanked by heavyweights like Intercontinental Exchange CEO Jeffrey Sprecher, Trump pledged to bring the corporate tax rate down to 15% for businesses that produce on U.S. soil. “You pay 21% if you don’t build here. If you do, we’re going to try and get it to 15%,” Trump announced.

His economic team, which includes Scott Bessent, Howard Lutnick, and Kelly Loeffler, stood alongside him as he outlined his vision to energize domestic manufacturing.

Wall Street cheered his return, with applause erupting from the trading floor as Trump rang the bell. Traders chanted “USA” while the president-elect basked in the symbolism of the moment.

For Trump, the stock market remains a barometer of success, as we’ve pointed out in the past. During his first term, the S&P 500 surged nearly 68%, boosted by corporate tax cuts and favorable Federal Reserve policies. Now, he’s promising even more.

But Trump’s relationship with the market isn’t without risks. His plan includes sweeping tariffs targeting both allies and adversaries. Economists warn these moves could raise prices for American businesses and consumers.

Still, the president insists the long-term gains will outweigh the short-term pain. “This is going to be a country like no other,” he said with a smirk.

Crypto, AI, and the Bitcoin race

While Wall Street is familiar territory, Trump’s focus on crypto was a major pivot. He’s determined to push the U.S. to the forefront of blockchain innovation, with the crypto-loving Senator Cynthia Lummis standing firmly in his corner.

Lummis told the community, “America won the Space Race. Now America must win the Bitcoin Race.” She then promised Trump that she was willing to do everything she could to help him achieve his crypto ambitions. Talk about a true believer.

Meanwhile, former Bitcoin hater and NYSE legend Jimmy Cramer was all smiles as he interviewed Trump at the event. He was the one who asked him those crypto-related questions, confirming his newfound love for crypto, which started a few weeks ago.

A star-studded lineup and high stakes

Trump’s NYSE appearance was a spectacle. Alongside him were key cabinet picks, including Robert F. Kennedy Jr. as health secretary and North Dakota Governor Doug Burgum for the Interior Department. 

Wall Street titans like Goldman Sachs’ David Solomon and Pershing Square’s Bill Ackman were also in attendance. Ackman praised Trump’s pro-business stance, saying, “The more successful businesses are, the more wages rise.”

But Trump’s proposals come at a time when markets are already on edge. We’ve seen the S&P 500 climb since the election, driven by optimism over his tax cuts and deregulation promises.

But some economists are worried that his hardline approach could backfire, but his supporters see it as a bold move to protect American interests.

Even as Trump avoided telling investors to buy stocks outright, his bullish tone was unmistakable. “I don’t want to say that and then we have a dip or something,” he told Jimmy.