It’s a unique time in the history of the United States, especially in its relationship with technology. We are coming off a contentious election cycle and regardless of where you find yourself on the political divide, come January 20, 2025, Donald Trump will be sworn in as the 47th President of the United States of America. Now, the question is: What happens next?

The effects of his reelection are already being felt in different tech ecosystems. Not long after his victory, stock prices for big tech firms saw a significant surge, bitcoin has also crossed the $100,000 milestone. This is due to analysts anticipating that the incoming administration will develop policies that favor emerging tech and other technology sectors allowing for enhanced growth. Although, as we discuss below, this approach may not be uniform across all technology sectors.

We want to explore what impact a Trump 2.0 administration could have on the emerging technology industry, as this will likely have a significant effect on our clients and their businesses in 2025 and beyond. Let’s look at some key emerging technologies and how the incoming Trump administration could affect them.

Big Tech Generally

Similar to his first term, Trump 2.0 is likely to focus on growing capacity within the tech industry, but at the same time, continue to scrutinize big tech companies and their concentrated power. In a recent post on Truth Social, President-elect Trump said “Big Tech has run wild for years, stifling competition in our most innovative sector.”

In that same post, he shared his intent to nominate Gail Slater as Assistant Attorney General for the Department of Justice’s Antitrust Division. This signals continued scrutiny of large technology companies, a move carried over from the outgoing administration and its aggressive antitrust stance.

Slater spent 10 years at the FTC, first as an antitrust attorney and then adviser to the Commissioner where she brought cases seeking to block certain mergers. If confirmed, Slater would inherit several high-profile antitrust cases against tech giants. This includes the case against Google as the FTC seeks to force Google to sell its Chrome internet Browser.

Trump has also nominated Paul Atkins, a former Republican SEC Commissioner, to lead the SEC. If confirmed, Atkins will replace current Biden-appointed chair and strong crypto opponent, Gary Gensler. While nothing is certain, the crypto industry anticipates that Atkins will take a lighter-touch regulatory approach to crypto and digital assets generally, which would be a welcome change from Atkins’ predecessor.

We also anticipate a more active regulatory environment focused on limiting content moderation from social media companies that the incoming administration has characterised as “censorship” of conservative viewpoints. However, it remains to be seen how these regulations will be balanced with ensuring national security and preventing foreign actors from having a significant hold on these social media platforms.

What does Rikka think?

It appears that Trump 2.0 could be focused on improving efficiency within both the public and private sectors. His approach to big tech regulation may help limit some of the concentration of power with large tech companies while also creating opportunities within the space.

These new opportunities could potentially aid the US economy as new technologies such as Web3 and generative AI could give birth to the tech giants of tomorrow. This is even more important as the US faces escalating economic tensions with China.

However, it is still too early to be conclusive about the Trump 2.0 approach to Big Tech. When the President-elect’s cabinet starts its term, we will have a better understanding of how the administration will operate. For now, there are still many fluctuating variables and the inherent impossibility of predicting all actions of an incoming administration.

Cryptocurrency and Web3

As of the time of writing this article, bitcoin is hovering around the $100,000 mark. Its current rally started just after election day, as investors anticipate more crypto-friendly policies from a Trump-controlled Washington. As has been historically the case, this price increase has also positively affected the entire crypto industry, as alt, stable and meme coins rise to record heights.

During his first term as president, Trump called bitcoin a “scam” and complained that the currency was “competing against the dollar”. Since then, he radically changed course during his re-election campaign to cast himself as a crypto champion.

He has pledged to turn the US into “the crypto capital of the planet” and has nominated a pro-business Republican to replace Gary Gensler. In September, he also launched his own crypto venture, World Liberty Financial; an indication of his growing interest in the emerging industry.

What does Rikka think?

A Trump presidency is a positive sign for the growth of cryptocurrencies and their underlying blockchain and Web3 technologies. With the President-elect’s public interest and appointment of crypto-friendly cabinet members, it’s clear why investors are bullish about the technology.

Trump’s evolving position on cryptocurrency signals a possible embrace of blockchain innovation as a strategic economic tool. The incoming administration can create a thriving environment for digital currencies, blockchain, and Web3. By simplifying taxation and compliance, the administration could also expand the technology’s use cases, taking it beyond finance into data security, supply chains, healthcare, and digital identity, just to name a few.

However, a crypto-friendly administration does not 100% guarantee smooth sailing. Despite their enthusiastic following and potential, cryptocurrencies are still often viewed as speculative assets with wild swings in value. They also have a reputation for being used for illicit finance and other criminal activities like pump-and-dump schemes and scams. As discussed in this article in decrypt, our CEO Charlyn Ho comments that misleading marketing, unfair or deceptive trade practices, or maybe even criminal misrepresentation or fraud are sometimes used by crypto communities to hype up projects, which can lead to significant investor confusion and harm.

The incoming administration must balance adoption with regulation before the technology can be fully utilized. As advocates for cryptocurrencies and blockchain/Web3 tech ourselves, we look forward to what the next few years hold.

Artificial Intelligence

President-elect Trump’s stance on AI is not as clear as with crypto and blockchain. He has publicly spoken about the vast possibilities of generative AI but has also criticized its dystopian potential, a viewpoint that has also been expressed by Elon Musk, one of Trump’s most trusted supporters. Trump also understands that the proliferation of AI systems and technology is inevitable, and he has stated his intent to ensure that the US stays ahead of its economic and technological rival, China.

The previous Trump Administration took early steps to establish AI policy in 2019 and 2020 before AI gained the intense global attention that it is experiencing now. For example, agencies were encouraged to “be mindful of any potential safety and security risks and vulnerabilities, as well as the risk of possible malicious deployment and use of AI applications”. That administration also agreed to the OECD AI Principles, part of which states “AI systems should be robust, secure and safe throughout their entire lifecycle.” These policies encouraged innovation while balancing the need for regulatory guardrails.

The current Biden Administration went further with the 2023 Biden Executive Order (EO) on AI. This introduced comprehensive federal guidelines for AI procurement, use, and national security. It also focused on the term “responsible AI”, and required that certain agencies designate Chief AI Officers. However, during his campaign, President-elect Trump promised to repeal the Biden EO due to his belief that the order hinders innovation and free speech.

Possible appointments to Trump’s transition team are also solid indicators of his approach toward AI. Currently, Michael Kratsios and Gail Slater are both tapped for co-chair positions on the tech policy transition team. Kratsios played a key role in the 2 previous Trump executive orders on AI in 2019 and 2020. Since then, Kratsios has been a general advisor at Scale AI, an AI startup that supports the defense sector. His appointment signals a possible focus on AI applications in national security.

On the other hand, Slater (previously an economic policy advisor to former Senator JD Vance), has advocated for less regulation of the AI industry. With both appointments, we think it’s likely that the Trump administration will follow its prior approach in adopting a softer regulatory outlook for AI, as compared to the Biden Administration, but with the added focus on national security applications.

What does Rikka think?

It is unclear if Trump will be able to fully revoke the Biden Executive Order on AI, but certain aspects are likely to be rolled back, such as procurement guidelines requiring agencies to consider factors like climate impact. However, key policies under the Executive Order, like the creation of the U.S. AI Safety Institute (AISI) and the appointment of chief AI officers in federal agencies, might survive through bipartisan support and legislative action.

We can also expect the continued growth of AI technologies as Trump 2.0 introduces regulations that enable continued AI development. With this, the capabilities of generative AI models are likely to improve drastically as we have already seen, potentially accelerating the corporate and geopolitical race to develop more advanced AI models to remain competitive. As AI proliferates, these models would then be increasingly integrated into critical parts of society such as finance, health, infrastructure, and the military, raising even more potential liability and legal concerns.

Trump’s foreign policy could also impact his administration’s AI policy. We expect Trump 2.0 to continue a hard-line stance on China, especially around existing export controls on semiconductor chips, a core technology behind AI systems. This stance aligns with bipartisan recommendations to prioritize homegrown AI innovation. With this and a more permissive regulatory landscape, we anticipate more opportunities for smaller tech companies to thrive and a reduction in the regulatory burdens faced by AI developers and contractors.

What happens next?

We think that it’d be a safe bet to expect Trump 2.0 to have a lighter touch on tech policy and regulation. With a pro-business cabinet, a Republican-controlled Congress, and a Supreme Court inclined toward conservative interpretations, we will likely see a mix of deregulation, targeted oversight, and strategic economic policies shaping the tech landscape.

Emerging technologies like AI, blockchain, and Web3 are set to see significant growth, but their trajectory will depend on how the administration balances innovation with public interest safeguards.

In the months ahead, the Trump administration’s actions and appointments will reveal more about its vision for the future of technology in America. Businesses, policymakers, and tech professionals must stay vigilant and adaptive, ready to navigate this evolving intersection of policy, technology, and law.

The next 4 years promise to be transformative for the tech industry — how we engage with and influence these changes will determine the long-term outcomes.

Connect with us at Rikka to stay informed as we continue to explore these developments and their implications for emerging technologies.