Trump Says “Crypto’s Important,” Wants To Keep It “Away From China”

The information provided on Inside Bitcoins is for educational and informational purposes only and should not be considered financial, investment, or trading advice. Cryptocurrency markets are highly volatile, and investing in digital assets carries significant risk. No profits are guaranteed, and you may lose some or all of your investment. Always invest responsibly and only with funds you can afford to lose.

TRUMP
TRUMP

Join Our Telegram channel to stay up to date on breaking news coverage

US President Donald Trump says crypto is important and wants the US to build dominance over China in the digital asset space.

“I want crypto. I think crypto’s important because if we don’t do it, China’s going to,” Trump said in an interview with Kristen Welker on NBC News’ Meet the Press that was released on May 4. “And it’s new, it’s very popular, it’s very hot,” he added.

Trump

Trump Criticizes Biden For “Violently” Attacking The Industry

CBS News’ Jennifer Jacobs reported on X that Trump wants to keep crypto “away from China.” According to her, the President warned that if the US does not build and maintain dominance in the digital asset space, “China will take it over,” similar to what they did with artificial intelligence (AI) and “so many other industries.” 

Trump also went on to criticize the previous administration under former President Joe Biden for “violently” attacking crypto. Prior to Trump retaking the White House in January, several crypto firms were embroiled in legal cases with the US Securities and Exchange Commission (SEC) under former anti-crypto Chair Gary Gensler.

Since Trump’s entrance into the White House, the SEC has dropped multiple high profile cases against crypto firms.

Trump Says He Isn’t Aware Of Any Profits From His Meme Coin

During the CBS interview, Trump was also asked to respond to critics who accused him of profiting from his presidency through the launch of his Official Trump (TRUMP) meme coin. Initially, he replied by saying that he “was not profiting from anything.”

Thereafter, Welker asked, “So you’re not profiting off of the cryptocurrency at all?” The President responded by saying that he hasn’t “even looked.” 

That follows a March analysis by the Financial Times, which found that the parties behind the token made $314 million from selling their holdings. It also showed the creators generated $36 million from fees.

Two companies, CIC Digital LLC, which is an affiliate of the Trump Organization, and Fight Fight Fight LLC, which is co-owned by CIC Digital, collectively own 80% of the meme coin’s 1 billion supply.

Related Articles:

Best Wallet - Diversify Your Crypto Portfolio

Our Rating

Best Wallet
  • Easy to Use, Feature-Driven Crypto Wallet
  • Get Early Access to Upcoming Token ICOs
  • Multi-Chain, Multi-Wallet, Non-Custodial
  • Now On App Store, Google Play
  • Stake To Earn Native Token $BEST
  • 250,000+ Monthly Active Users
Best Wallet

Join Our Telegram channel to stay up to date on breaking news coverage

Read next