Donald Trump’s campaign promises to ease regulatory restrictions for the crypto industry in the U.S. may turn out to be a deception, according to Anthony Scaramucci, founder of SkyBridge Capital and former member of the presidential administration.

“Sometimes in the desert, when you see an oasis, it could be a mirage,” said the entrepreneur, adding that the crypto community is likely to face disappointment.

Scaramucci also pointed out that the launch of the TRUMP meme coin before the inauguration indicates that Trump “is not paying enough attention to the needs of the crypto industry.”

Moreover, the expert emphasized that the unpredictability of the president’s actions could become the main negative factor for the market: “Markets hate unpredictability and uncertainty. Markets like calmness.”

He expressed concern over Trump’s capricious decisions regarding higher trade tariffs for goods from Canada, Mexico, and the U.S., as well as his tendency to change decisions based on personal gain.

“I am amazed that people are surprised by this,” Scaramucci stressed.

However, he remains confident that the American crypto industry will still receive the desired friendly regulations, but not because of Trump’s administration. Instead, it will likely result from “learning from mistakes” made by the Democrats, who lost the election due to their attitude toward the crypto community.

It is worth noting that on February 3, following Trump’s statements about the possible expansion of trade wars, the market capitalization of the crypto market dropped by 11.7%.