CleanSpark, Inc. (CLSK) stock plummeted 5.05% on Tuesday, January 21, during the intraday trading session, following the lack of a pro-crypto executive order or clear policies from President Donald Trump on his first day in office.
Investors were anticipating that Trump would issue a directive supporting the digital asset sector and reaffirm his campaign promises of making the US the world's crypto capital and creating a strategic Bitcoin stockpile. However, Trump's initial actions focused on other areas like immigration, trade, energy, and TikTok, leading to uncertainty and disappointment in the crypto market.
The decline in CleanSpark's stock price, along with other crypto-related companies like MicroStrategy, MARA Holdings, and Coinbase, was likely driven by the lack of clarity on Trump's crypto stance and the absence of any immediate pro-crypto policies or announcements from the new administration.
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