Introduction

Between late 2024 and May 2025, Donald Trump underwent a dramatic shift in his stance on Bitcoin. Once openly hostile to cryptocurrencies, the former president made a full pivot as he reemerged on the national stage—embracing Bitcoin and making it a talking point throughout both his campaign and his early presidential agenda. What sparked this reversal? And how has that support evolved since his return to the White House?

This article traces Trump’s evolving relationship with Bitcoin and digital assets, focusing on key turning points in his rhetoric and policy, the reasons behind his subsequent silence, the influence of crypto lobbyists and regulatory bodies, and the political alignment between Bitcoin advocacy and Trump’s support base. All of it, grounded in verified sources and presented in accessible language for readers trying to make sense of crypto’s role in today’s American politics.

From Skepticism to Soft Support

During his presidency in 2019, Trump was openly critical of Bitcoin and other digital assets. On social media, he called cryptocurrencies “not money” and “based on thin air”, dismissing their volatility and lack of backing. In 2021, he reiterated his skepticism, referring to Bitcoin as “a scam” and reaffirming his support for the U.S. dollar as the global standard.

But the tide began to turn. In late 2022, Trump released a set of NFT trading cards bearing his likeness—an unexpected foray into the world of crypto that sold out almost instantly. From that point on, he began dipping his toes into the broader digital asset space, gradually softening his tone and signaling a willingness to engage with the crypto community.

The Turning Point: 2024

The real pivot came in 2024. In May, Trump made a surprise appearance at the Libertarian National Convention in Washington, D.C. There, he promised to commute the sentence of Ross Ulbricht, the founder of the Silk Road darknet marketplace, who had become something of a martyr within crypto-libertarian circles. Greeted with signs reading “Free Ross”, Trump pledged clemency—earning applause from a notoriously skeptical audience.

In the same month, Trump’s presidential campaign began accepting donations in Bitcoin and other cryptocurrencies. This marked a significant departure from traditional campaign finance norms and signaled to voters that he had shifted from dismissive outsider to crypto ally.

Trump Embraces Crypto in the 2024 Presidential Race

As the 2024 presidential race ramped up, Donald Trump made his support for cryptocurrency a defining part of his campaign. In June, speaking at a tech-industry fundraiser in San Francisco, he declared himself ready to become “the crypto president”—a line that drew applause from a room full of venture capitalists, tech executives, and crypto insiders.

The event featured prominent industry figures, including executives from Coinbase and the Winklevoss twins, and it raised an estimated $12 million in a single night for the Trump campaign. According to Republican National Committee member Harmeet Dhillon, Trump told the crowd, “Crypto is important. I plan to support this industry strongly”. While light on policy specifics, the message was clear: Trump was no longer a crypto skeptic.

His aides took the rhetoric further. One campaign official stated bluntly, “The Biden administration’s crusade against crypto, led by Gary Gensler at the SEC, will end one hour into Trump’s second term”. The contrast between Trump’s hands-off vision and the regulatory crackdowns under Biden became a central campaign theme.

But Trump’s most aggressive pitch to the crypto world came in late July at the Bitcoin 2024 Conference in Nashville, Tennessee. As the presumptive Republican nominee, he delivered a nearly hour-long keynote speech to a raucous crowd of crypto enthusiasts and industry professionals.

He laid out a series of bold promises:

• Make the U.S. a “Bitcoin Superpower”: Trump vowed to fully embrace cryptocurrency and transform America into the global leader in Bitcoin innovation.
• Turn America into the “crypto capital of the world”: Speaking from the Nashville stage, he promised to make the U.S. the undisputed home of digital asset development.
• Create a “National Strategic Crypto Reserve”: Trump pledged to use government-held digital assets—primarily Bitcoin seized by law enforcement—to form a sovereign crypto reserve. This proposal would turn cryptocurrency into a strategic national asset.
• Fire Gary Gensler and reshape the SEC: Trump committed to removing SEC Chair Gary Gensler and replacing him with someone friendlier to the crypto industry. He also announced plans for a presidential advisory board staffed with pro-crypto experts, saying, “Crypto policy should be written by people who love the industry—not by people who hate it”.
• End federal interference in crypto mining and innovation: Trump accused the federal government of “standing in your way” and declared, “In my administration, crypto will be mined, minted, and made in the USA”. The line was a direct rebuke to Biden-era scrutiny of mining and blockchain development.
• Pardon Ross Ulbricht: Perhaps the most provocative promise was a renewed pledge to commute the sentence of Ross Ulbricht, founder of the Silk Road darknet marketplace. Serving a life sentence without parole, Ulbricht has become a cause célèbre among libertarians and crypto activists. Trump’s vow to grant clemency was met with cheers—and cemented his appeal among the most ideologically driven corners of the crypto world.

The Bitcoin community responded with enthusiasm. As the Associated Press noted, Trump’s speech marked a stark reversal from his earlier hostility toward digital assets. Once a critic who dismissed Bitcoin as “worthless”, Trump was now proudly waving the crypto flag—and in doing so, solidifying his status as the industry’s most high-profile political ally heading into the election.

The Pivot Point: From Critic to Crypto Ally

Trump’s fiery address at the Nashville Bitcoin 2024 conference was undoubtedly the headline moment, but the shift in his crypto stance had been quietly unfolding for years.

The earliest signs of change date back to late 2022. In December of that year, Trump launched a series of NFT trading cards featuring his own image—a move that surprised many and marked his first successful foray into monetizing digital assets. The collection sold out quickly, giving him a firsthand taste of the financial potential tied to crypto culture.

Throughout 2023, while major scandals rocked the crypto world—most notably the collapse of FTX—Trump remained silent. But within conservative circles and parts of the Republican establishment, a narrative began to take hold: that the Biden administration’s regulatory crackdown was stifling innovation, and that a GOP-led government would be far more crypto-friendly. Trump appeared to take notice.

By early 2024, crypto had become a core part of his campaign strategy. One of the most telling moments was his unexpected appearance at the Libertarian Party’s national convention in May. Speaking directly to a crowd deeply skeptical of government overreach, Trump declared, “I understand how you feel—I feel the same way”. He backed that up by pledging clemency for Ross Ulbricht, whose case had become symbolic of what many libertarians view as an oppressive justice system.

His presence at the convention wasn’t entirely welcomed. Trump was booed by a segment of the audience who viewed him as a big-government Republican at odds with libertarian values. Still, he remained unfazed, proclaiming that “America must be number one” in the world of crypto, and explicitly linking digital assets with other cutting-edge technologies: “AI is important, but crypto is just as vital”.

By the second half of 2024, Trump had fully embraced a pro-crypto position. Observers suggest that this pivot was less about a newfound belief in the transformative power of Bitcoin and more about political calculus. Supporting digital assets opened up new financial channels and energized a voter base increasingly frustrated with Washington regulators.

Indeed, Trump’s campaign was soon awash in donations from Silicon Valley tech elites and crypto entrepreneurs. Among them were David Sacks and Chamath Palihapitiya—both well-known members of the so-called “PayPal Mafia” who had publicly endorsed Trump—as well as the Winklevoss twins, founders of the Gemini crypto exchange. Their financial support came at a time when the SEC, under Biden-appointed Chair Gary Gensler, was aggressively pursuing enforcement actions across the industry.

Trump capitalized on this regulatory climate, branding it as a “witch hunt” and promising that under his leadership, the crackdown would end. The message resonated—especially with those in the crypto world who were tired of playing defense.

Crypto After the Comeback: Trump’s Silent Push

When Donald Trump won the U.S. presidential election in November 2024, the cryptocurrency market reacted almost instantly. Bitcoin surged more than 40% in just two weeks, nearly breaking past $99,000. By early 2025, it crossed the $100,000 threshold for the first time in history, eventually hitting an all-time high of around $109,000. Optimism around a “pro-crypto Trump era” ran high, fueled further by the Republican sweep of both chambers of Congress. Altcoins and crypto stocks rallied in tandem. Investors hoped the era of regulatory crackdowns was over and that a friendlier framework was on the horizon.

Adding fuel to the market’s excitement, Trump soon announced the launch of a new crypto venture—World Liberty Financial (WLF)—a decentralized finance (DeFi) project led by his sons. The initiative introduced a governance token called $WLFI and a U.S. dollar-pegged stablecoin named USD1. Trump, styling himself as “Chief Crypto Advocate”, became the project’s de facto spokesperson, promoting it energetically even before officially taking office.

Yet paradoxically, after assuming office, Trump went notably quiet on crypto—at least in public. His administration’s first legislative agenda, released in late January 2025, contained no mention of Bitcoin or digital assets. His inaugural address, too, focused on traditional Republican talking points: border security, economic revival, and combating “climate extremism”. For an industry that had just seen him as its savior, the silence was unsettling. Critics questioned whether his earlier crypto enthusiasm had been mere political theater.

But behind the scenes, the gears were turning. Just days into his term, Trump signed an executive order calling for a working group to explore the creation of a National Digital Asset Stockpile—a bold plan to consolidate and strategically manage government-held crypto assets. He swiftly appointed crypto-friendly Paul Atkins as Chair of the SEC and named David Sacks as a senior White House advisor for AI and crypto—reportedly referred to internally as the administration’s “Crypto Czar”.

In March 2025, Trump hosted the White House Crypto Summit, attended by over 20 industry executives. There, he declared, “The war on crypto under Biden is over. Now we lead”. He reiterated his campaign promise to make the U.S. the “Bitcoin superpower” and “the global capital of crypto”.

Policy changes came quickly:

• In April, the Department of Justice disbanded the National Cryptocurrency Enforcement Team (NCET), which had investigated crypto-related crimes since 2022.
• An internal memo criticized the previous administration’s “prosecution-as-policy” approach and hinted that the change was spurred by Trump’s January executive order.
• Regulatory pressure eased dramatically across agencies, signaling a clear break from the Biden-era posture.

One of Trump’s most symbolic moves was activating the “Strategic Crypto Reserve” concept. In early March, he took to Truth Social to announce that the federal government would begin stockpiling five key digital assets—including Bitcoin and Ethereum—as part of a national crypto reserve strategy. The move followed through on a campaign promise made in coordination with crypto lobbying groups.

Following the announcement, prices for Ripple (XRP), Cardano (ADA), and Solana (SOL)—initially named in the reserve—jumped between 12% and 60%. Trump later clarified that Bitcoin and Ethereum would serve as the core of the reserve, which further boosted prices. Bitcoin jumped from $86,000 to over $94,000 within hours, reversing what had been a post-election cooling phase.

Beyond official policy, Trump and his family have aggressively expanded their private crypto ventures. In late March, the WLF project rolled out the USD1 stablecoin. Earlier in January, Trump and former First Lady Melania launched a meme-themed cryptocurrency, reportedly called $TRUMP. While the token doesn’t confer financial rights, it generated significant buzz—another sign that Trump was using his brand to ride the crypto wave not just as a policymaker, but as a businessman.

In short, Trump may be quieter on crypto in speeches, but not in action. His administration has rapidly implemented policies favoring digital assets, while his family appears poised to benefit from the booming ecosystem. This dual track—governing for crypto and profiting from it—has raised both enthusiasm and concern.

The next section explores that dynamic more deeply: how the cozy relationship between the Trump administration and the crypto industry brings not just benefits, but serious ethical questions.

Crypto Lobbying and the SEC: Allies, Appointments, and Alarms

Trump’s full embrace of the crypto industry in 2024 was met with an outpouring of support from key industry stakeholders. Lobbying groups, venture capitalists, and crypto-native entrepreneurs lined up to back his campaign, largely because they saw the Republican Party—and Trump in particular—as more favorable to digital assets than the regulatory-heavy Democratic establishment. Figures like Senator Elizabeth Warren and SEC Chair Gary Gensler had long represented what many in the space viewed as the enemy: heavy-handed enforcement and anti-crypto rhetoric.

A striking example of the crypto industry’s political muscle came in the 2024 Ohio Senate race, where Republican challenger Bernie Moreno—an outspoken Bitcoin supporter and former blockchain CEO—unseated Democratic incumbent Sherrod Brown. The crypto industry poured $40 million into supporting Moreno’s campaign, targeting Brown’s record as chair of the Senate Banking Committee and a pro-regulation hawk. The upset sent a strong message: crypto capital wasn’t just buying ads—it was buying influence.

Trump’s own inner circle also grew increasingly populated with crypto figures. His San Francisco fundraiser was packed with digital asset elites, and the White House Crypto Summit he hosted drew executives from some of the largest crypto companies. These individuals were not just donors; they helped shape personnel and policy.

Silicon Valley investor David Sacks, a crypto advocate, was named senior advisor for crypto and AI. Paul Atkins, a long-time critic of overregulation, was appointed SEC Chair. Crypto lobbyists hailed both appointments as victories—“proof”, they claimed, “that the administration is listening”.

Behind the scenes, enforcement priorities at regulatory agencies began to shift dramatically. Within the first few months of Trump’s new term, multiple investigations and enforcement actions at the SEC were reportedly paused or dropped altogether. Senator Warren accused the SEC of going soft on companies linked to Trump donors, even claiming new guidance had been issued to shield Trump-branded tokens from scrutiny.

One particularly thorny case involved Chinese-born crypto billionaire Justin Sun, who had been under investigation by the SEC for fraud. In late 2024, Sun reportedly invested $30 million into Trump’s family-run DeFi firm, World Liberty Financial (WLF), becoming its top backer. The deal allegedly triggered an immediate $15 million payday for a Trump-affiliated entity, DT Marks DEFI LLC. Soon after, the SEC dropped its inquiry into Sun. Watchdog groups cried foul.

Jordan Libowitz of Citizens for Responsibility and Ethics in Washington (CREW) said, “There’s no clearer form of political influence than tens of millions flowing directly to the president’s family”. Robert Weissman of Public Citizen called it “not just an ethical issue—it’s the definition of corruption”.

The implications extended to federal policymaking. As the SEC and DOJ pulled back on enforcement, Trump family interests in crypto surged forward. In March 2025, Eric and Donald Trump Jr. unveiled a new stablecoin under WLF, just as the U.S. Senate began debating the so-called Genius Act, a bill that would dramatically loosen restrictions on stablecoin issuers. Critics warned the law could aid money laundering and the black-market fentanyl trade.

Senator Warren was blunt: “Donald Trump is gutting oversight of a market in which his own family stands to profit. It’s a massive conflict of interest—and a recipe for financial disaster”. She called for urgent legislative action to protect consumers and restore regulatory integrity.

The Trump-crypto alliance thus presents a double-edged sword. On one hand, the industry has gained unprecedented access and favorable policy momentum. On the other, it faces mounting concerns over conflicts of interest, regulatory capture, and political favoritism. The question now is whether this relationship is one of innovation—or of exploitation.

The next section explores that ambiguity in greater depth, examining the strategic ambiguity behind Trump’s crypto policy and his connection to various ideological support bases.

The “Close in Spirit, Distant in Policy” Doctrine

Observers have begun to describe Trump’s approach to crypto as a case of being “close in spirit, distant in policy”. In other words, while he often speaks the language of the crypto community—echoing their frustrations, values, and anti-establishment ideals—his actual policies frequently fall short of, or even contradict, those sentiments.

Let’s start with the “close in spirit” side of the equation. Trump has demonstrated a remarkable ability to channel the emotional core of the crypto movement. Many crypto enthusiasts—particularly those aligned with libertarian or anti-government ideologies—distrust central banks, value financial sovereignty, and view cryptocurrency as a means to reclaim personal agency. Trump has capitalized on that sentiment, positioning himself as a warrior against the D.C. establishment.

His pledge to pardon Ross Ulbricht, founder of the Silk Road darknet marketplace, was a powerful gesture to the crypto-libertarian crowd. His repeated attacks on federal regulators—whom he described as “the same lunatics who tried to take me down”—further cemented his image as a populist outsider fighting for “freedom tech”. His rhetoric about “the weaponization of government” resonated deeply with conspiracy-minded supporters, including the QAnon base. To them, the federal government isn’t a regulator—it’s an oppressor. Trump’s messaging deliberately played into that narrative.

But then there’s the “distant in policy” part.

At its core, Bitcoin is a rebellion against centralization—an asset designed to operate without government involvement. Hardcore Bitcoin maximalists want the state to stay out of the way. Yet Trump’s crypto agenda includes proposals for a national crypto reserve, in which the federal government would stockpile Bitcoin and other digital assets. He and his family have also launched a range of highly centralized crypto ventures—hardly a match for the ideals of decentralization.

Libertarian economists have voiced concern. Harvard’s Jeffrey Miron, a fellow at the Cato Institute, has called the idea of a federal Bitcoin reserve “economically nonsensical” and “a fundamental contradiction”. In his view, having the government actively accumulate and hold Bitcoin undermines the entire philosophical premise of the currency.

Moreover, Trump’s crypto advocacy has largely avoided building comprehensive legal frameworks to support investor protections, stablecoin transparency, or fraud prevention. Deregulation has been the primary agenda item—hardly surprising—but that creates space for scams, hacks, and systemic risk. Some analysts warn that Trump’s policies could turn crypto into a regulatory Wild West. Eswar Prasad of Cornell University warns that “The Trump family appears to be locking in strategic positions in crypto before regulators catch up—and those moves are fraught with conflicts of interest”.

He adds, “If Trump continues to gut oversight while publicly blessing the industry, crypto could become a lubricant for every illegal financial activity imaginable—from fraud to drug trafficking. And ordinary investors will bear the consequences”.

So while Trump paints himself as a bold crypto visionary, his real-world approach often skews toward brand building, political gain, and short-term financial leverage. He taps into the community’s anger and idealism—but delivers policies that centralize power, benefit insiders, and offer little in the way of institutional reform.

From a purely strategic standpoint, however, the approach may be politically effective. Trump has long mastered the art of emotional alignment with disenfranchised voters, while enacting policies that serve a different set of interests. Consider his relationship with Rust Belt voters: he voiced 100% solidarity with their economic pain while championing tax cuts for the wealthy. With crypto, the pattern is similar—“I love Bitcoin” speeches on the front end, while behind the scenes, his family’s crypto empire expands under deregulated conditions.

In that light, the phrase “close in spirit, distant in policy” captures Trump’s crypto strategy precisely. It’s populism tailored for the blockchain age—emotional resonance upfront, profit-seeking in the backend.

Bitcoin Believers and the Trump Coalition: Ideological and Political Overlap

To close this analysis, it’s worth exploring the ideological and political overlap between Donald Trump’s Bitcoin advocacy and his core voter base. While his supporters span a wide range of demographics, three groups in particular—Rust Belt workers, QAnon-aligned conspiracy theorists, and libertarian conservatives—have shown notable resonance with Bitcoin’s core principles and Trump’s messaging.

Rust Belt Workers

States like Pennsylvania, Ohio, and Michigan—America’s so-called “Rust Belt”—have long been marked by industrial decline and economic stagnation. Many working-class voters in these regions harbor deep distrust of Washington and Wall Street elites, believing the existing financial system has abandoned them. Bitcoin’s appeal as a decentralized, government-agnostic form of money—“digital gold” for the internet age—offers an alternative narrative: one of self-reliance, sovereignty, and opportunity.

In fact, between 2023 and 2025, Ohio lawmakers introduced several bills that would allow state-level investments in Bitcoin. In February 2025, Republican State Senator Sandra O’Brien introduced legislation to create the “Ohio Bitcoin Reserve Fund”, explicitly citing the Trump administration’s crypto-friendly stance as a model. These policy moves reflect a growing belief among local politicians that embracing Bitcoin might not just be tech-forward—it could also be a form of regional economic revival.

For Rust Belt Trump voters, Bitcoin may represent a new version of the American Dream—one not controlled by coastal elites or legacy banks. Of course, the reality of crypto investing is far more volatile and risky than its promise might suggest. But Trump’s national initiatives, such as the “Strategic Bitcoin Reserve”, give the appearance that the federal government is helping stabilize and boost the asset’s long-term value. Ironically, this is a form of market intervention—but one that early retail investors might nonetheless benefit from.

QAnon and Conspiracy-Minded Voters

The QAnon movement, which imagines a shadowy cabal of elites secretly controlling world events, sees Trump as a messianic figure battling the forces of darkness. Unsurprisingly, many in this group are also drawn to cryptocurrencies—not just as financial instruments, but as tools of resistance. A 2024 study suggested that crypto holders are statistically more likely to believe in conspiracy theories and harbor deep distrust of authority.

Throughout the pandemic, many isolated individuals within QAnon circles were lured into crypto schemes by influencers promoting obscure tokens. Some lost everything. The crossover between conspiracy culture and crypto speculation is murky but real.

Trump has repeatedly thrown red meat to this base. His condemnation of Biden-era regulators as corrupt, and his framing of crypto crackdowns as persecution—“They targeted me, and they’re targeting you”—mirror QAnon’s worldview. The phrase “digital soldiers”, a QAnon term, aligns well with Bitcoin advocacy, casting crypto as a form of online rebellion. While Trump likely lacks deep technical knowledge of blockchain, he has effectively weaponized crypto as a symbolic tool within a broader anti-establishment narrative.

Libertarians and Hardline Economic Conservatives

Libertarians have long been among Bitcoin’s earliest and most passionate supporters. Their faith in “small government”, inviolable private property rights, and distrust of fiat currency aligns neatly with Bitcoin’s capped supply and resistance to inflation. For them, Bitcoin is more than an asset—it’s a philosophy.

Take Senator Cynthia Lummis of Wyoming, one of Capitol Hill’s most vocal Bitcoin advocates. In 2024, she proposed a bill for the U.S. to purchase and hold one million BTC—worth over $600 billion at the time—as a sovereign reserve. Trump’s own strategic reserve plan seemed to build directly on this idea, aiming to position Bitcoin as a pillar of national strength.

In May 2024, Trump spoke at the Libertarian Party National Convention, where he pledged to pardon Ross Ulbricht. He fulfilled that promise just two days into his presidency. He also emphasized that he had forfeited billions of dollars by stepping away from his business empire, claiming he was not in politics for personal gain. For many libertarians, this narrative helped soften their skepticism. Some who voted for Jo Jorgensen in 2020 returned to Trump in 2024—driven, in part, by his stance on Bitcoin. As one libertarian think tank member put it, “Trump’s not perfect, but he gets crypto. That alone puts him ahead of Biden and the bureaucrats in D.C”.

Still, as previous sections show, not all libertarian economists are sold. Many remain wary of state involvement in crypto markets—especially when it benefits the political elite.

A Shared Anti-Establishment Ethos

Trump’s embrace of Bitcoin taps into a broader, emotionally potent narrative: resistance to the establishment. Bitcoin’s very existence challenges central banks and entrenched financial hierarchies. Trump, meanwhile, has built his political brand on being a disruptor, an outsider. Supporting Bitcoin reinforces that identity and signals solidarity with voters who feel ignored or exploited by traditional systems.

In that light, Trump’s Bitcoin advocacy becomes more than policy—it’s a symbol. A way to say: “I hear your frustration. I share your fight. And I’ll lead the charge”. Whether or not that charge leads to tangible gains for his supporters remains to be seen. But as political theater, it’s highly effective.

Conclusion: Trump, Bitcoin, and a Nation at the Crossroads

Looking back on Donald Trump’s evolving relationship with Bitcoin and crypto from late 2024 to the present, it becomes clear that his journey is as much about political theater as it is about policy. Once a staunch crypto skeptic, Trump reversed course with dramatic flair—grabbing headlines, charming the crypto community, and transforming himself into the industry’s most powerful ally. His pivot reflected not only the maturing of the digital asset market but also a shifting electoral landscape—and above all, a calculated move to reclaim political dominance.

Trump’s bold declarations and rapid-fire execution of crypto-friendly initiatives have shaken markets. Bitcoin has shattered all-time highs. Investors now watch his words and tweets as barometers for market movement. He has become, quite literally, a market mover.

But the brighter the spotlight, the longer the shadow.

Trump’s crypto agenda, while welcomed by many in the industry, comes with substantial risks. Deregulation may foster innovation—but it also invites bad actors and leaves retail investors vulnerable. And the unprecedented entanglement of a sitting president—and his family—in private crypto ventures raises profound questions about conflicts of interest and institutional integrity.

While Trump insists he’s not enriching himself through politics, the optics tell a different story. His family businesses have secured tens of millions in crypto-related investments. The gap between his populist rhetoric and the financial reality of Trump Inc. continues to widen.

Trump’s relationship with Bitcoin is emblematic of a larger phenomenon: the collision of politics and financial technology in the 21st century. A national leader advocating for a Bitcoin reserve, promoting crypto as national policy—that would’ve sounded like science fiction a decade ago. But to his supporters, this vision blends economic freedom with patriotic defiance. “America, the crypto capital of the world” is more than a slogan—it’s a dream.

Whether that dream becomes reality remains to be seen. Bitcoin remains highly volatile. Global regulation is still evolving. Over the next four years, Trump’s choices—legislative or otherwise—will determine whether the U.S. crypto boom is sustainable or combustible.

To quote Trump himself, “The rules should be written by people who love the industry”. But who exactly are those people? And whose interests will they truly serve?

Whatever the answers, one thing is undeniable: With Donald Trump now at the helm and Bitcoin in the spotlight, America’s crypto policy stands at a historic turning point. Whether this leads to national leadership—or national turbulence—remains an open question.

But in 2025, one fact is already clear: Trump is no longer just a political force—he is a crypto force.