Trump's Crypto Move Drives Market to $4 Trillion as Major Banks Embrace Bitcoin, Ether, XRP, Solana, SHIB, Cardano

The global crypto market cap surged past $4 trillion earlier this week before easing to around $3.85 trillion by Wednesday, led by a fresh wave of institutional adoption and aggressive support from Donald Trump.

At press time, Bitcoin (BTC) was trading around $115,512, just shy of its July 14th $123,077 all-time high, with traders showing signs of doubt, as per Santiment analysts. Ethereum (ETH) hovered near $3,619, still roughly 25% below its all-time high but showing signs of strong accumulation.

Meanwhile, key altcoins followed with mixed momentum, with XRP seeing a slight pullback to around $3.20. Solana (SOL) traded between $140–185, while Dogecoin (DOGE) dipped to $0.21, with technical indicators hinting at an upside breakout.

Notably, at the heart of this rally is Donald Trump’s dramatic shift to pro-crypto policy. Last week, the former president signed the Genius Act, the first federal U.S. law regulating the stablecoin market. The law requires issuers to maintain 1:1 USD reserves, giving investors more trust in dollar-pegged digital tokens.

Trump hailed the signing as a “massive validation” of the crypto community.

“For years, you were mocked and dismissed… but now you’re leading the financial revolution,” he said.

Stablecoins, unlike Bitcoin or Ethereum, are seen as less volatile, making them attractive for daily use, remittances, and even institutional investment. The Genius Act is expected to open the floodgates for broader adoption.

Trump’s crypto ambitions extend beyond stablecoins. His administration-in-waiting is reportedly considering allowing retirement funds to invest in digital assets, including Bitcoin. With over $9 trillion in assets under management in U.S. retirement accounts, the implications for crypto markets are enormous.

He has also established a Strategic Crypto Reserve and appointed a “Crypto Czar,” indicating a long-term commitment to digital asset infrastructure.

However, reports that the Trump family holds $2 billion in Bitcoin have sparked concerns over conflicts of interest. Critics argue that Trump’s personal financial exposure to cryptocurrency may be influencing his policy decisions, especially since Bitcoin is among the primary beneficiaries of his agenda.

Adding fuel to the momentum, major U.S. banks are finally embracing crypto. JPMorgan is preparing to offer loans backed by crypto assets, while Citibank, Bank of America, and Morgan Stanley are each exploring their stablecoin products.

This shift marks a complete reversal from just a few years ago, when industry titans like Jamie Dimon dismissed Bitcoin as “fraud.” Today, they’re building around it.

Despite the optimism, regulatory uncertainty still clouds the landscape. Two more crypto bills are pending in Congress, one of which could strip oversight from the SEC, handing it to smaller agencies —a move welcomed by the crypto lobby but feared by watchdogs.