Cryptocurrencies climbed on Tuesday as bullish investor sentiment returned on President Donald Trump's first full day back in office.

"The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun," Sacks said, speaking on Friday at the so-called crypto ball event, intended to drive support for Trump among the crypto community and demonstrate its value to the incoming administration.

U.S. President Donald Trump's return to the White House has been met with both relief and disappointment across world markets as investors try to work out what the next four years will bring.