- President Trump says crypto is key for the U.S. to compete, citing strength in downturns.
- Trump denies profiting from the Solana-based TRUMP token amid growing scrutiny.
- Despite a pro-crypto stance, TRUMP coin dips 85%, since its ATH, raising concerns.
President Donald Trump has doubled down on his support for cryptocurrency, stating that digital assets have shown greater resilience than traditional markets during recent economic turbulence. In an interview with NBC News, Trump emphasized on the strategic importance and growing popularity of crypto assets.
“I want crypto,” Trump stated plainly when asked about concerns regarding potential profits from his presidency. “I think crypto is important because if we don’t do it, China is going to. It’s new. It’s very popular. It’s very hot.”
The President specifically highlighted the sector’s performance during market downturns. He noted that crypto “stayed much stronger than other aspects of the market.”
He pointed to the widespread adoption as a key factor influencing his pro-crypto position and suggested that the technology has become too important to ignore. Trump also criticized the Biden administration, accusing it of initially taking a harsh regulatory approach toward crypto before allegedly softening its stance for political purposes.
Trump denies profiting from his meme coin
When questioned about the Official Trump token (TRUMP) on the Solana blockchain and whether he stands to benefit financially from it, the President denied any personal gain. “I’m not profiting from anything,” Trump insisted, adding that his support for cryptocurrency predated his current presidential campaign.
The TRUMP token saw considerable price volatility following its launch and has been a point of contention among lawmakers. Some Democratic senators have raised concerns about potential ethics violations and conflicts of interest related to the token.
This pro-crypto messaging comes as digital assets play an increasingly visible role in campaign finance and political discourse. Several candidates across the political sector have also accepted cryptocurrency donations, while blockchain technology has been proposed as a solution for improving transparency in political funding.Trump’s latest comments suggest he intends to position himself as a crypto-friendly president. However, his TRUMP meme coin has failed to sustain its momentum, and as per recent data, the price is down by over 85% since its all-time high in January.
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Source: https://coinedition.com/trump-says-crypto-stayed-much-stronger-than-traditional-markets-during-downturn/