Trump Signals Continued Support for Cryptocurrency, Vowing to See the US Dominate the Market

President Donald Trump signaled his continued support for cryptocurrency, saying at an industry conference Thursday morning he wanted to see the United States lead the world in digital asset technology.

President Donald Trump signaled his continued support for cryptocurrency, saying at an industry conference Thursday morning he wanted to see the United States lead the world in digital asset technology.

In a brief recorded video broadcast to the Digital Assets Summit in New York, Trump, who launched his own meme coin in January that held an overall market value of $2.3 billion Thursday, noted some steps his administration has taken to encourage crypto. He positioned himself as a leading advocate for the technology but was vague about future policy proposals.

“It’s an honor to speak with you about how the United States is going to dominate crypto and the next generation of financial technologies,” he said. “And it’s not going to be easy, but we’re way ahead.”

Trump noted he held the first ever White House digital assets summit this month, appointed a White House artificial intelligence and crypto czar and created a Strategic Bitcoin Reserve and Digital Asset Stockpile.

The reserves would allow the government to retain the value of digital currencies, he said, adding that was impossible under his predecessor, Joe Biden.

Reversing policy

Trump said his administration would seek to loosen regulations, in a reversal from Biden policy.

“We’re ending the last administration’s regulatory war on crypto and bitcoin,” he said. “Frankly, it was a disgrace. But as of Jan. 20, 2025, all of that is over.”

He also said he’d asked Congress to create “simple, commonsense rules for stable coins and market structure.”

Despite looser regulations, the framework would lead to “greater privacy, safety, security and wealth for American consumers and businesses alike,” he said, calling the decentralized finance system “one of the most exciting technological revolutions in modern history.”

Trump’s ties to industry

The decentralized nature of cryptocurrency allows anyone to launch a currency, which has led to a series of so-called meme coins fronted by celebrities or tied to internet trends that form a particularly volatile segment of the crypto market.

Trump has a vested interest in the success of the crypto market, with a reported 80% stake in his own token.

Trump’s coin peaked at a value of $14.5 billion the day before his inauguration but has since lost nearly 85% of its value. The financial news service Reuters reported last month that firms generated nearly $100 million in trading fees associated with the Trump coin, even as his coin’s market value plummeted.