Trump Wants the U.S. to Be the "Crypto Capital of the World"

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President Trump, who once called cryptocurrency a "scam" back in 2021, has now changed his mind. He says he wants to make the United States the top country for cryptocurrency.

Since taking office, Trump has taken steps to remove strict rules that made it hard for crypto businesses to grow. He has signed several orders to support cryptocurrency. One order encourages the development of digital currencies, and another tells the Treasury Department to create a national crypto reserve.

Trump also used his power to pardon the three founders of the crypto exchange BitMEX. They had admitted in 2022 that they didn’t do enough to stop money laundering on their platform, according to Reuters.

Trump’s own crypto assets have gone up and down based on his policies and social media posts. For example, the $TRUMP coin jumped 18.1% in early March after Trump signed an order about a strategic crypto reserve. Later, on March 23, he posted on Truth Social: “I Love $TRUMP – SO COOL!! The Greatest of them all!!!!” That post pushed the coin’s price from $10.93 to $12.24.

Even if the coin’s price doesn’t keep rising, Trump’s business still makes money through trading fees. Reuters reported that companies behind the $TRUMP coin could have earned nearly $100 million in fees in just two weeks.