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President Trump declares "U.S. is outpacing China in cryptocurrency
President Trump’s assertion that the U.S. surpasses China in crypto coincides with his family’s $TRUMP UMP memecoin project, sparking ethical questions as profits flow directly to the Trump family, according to The New York Times on May 13, 2025.
A small, financially troubled firm with links to China revealed a $300 million acquisition of $TRUMP and Bitcoin, possibly boosting the memecoin’s value despite its limited practical use beyond trading, underscoring the speculative surge surrounding Trump’s crypto endeavors.
The U.S.-China tariff conflict, intensifying per Reuters’ May 14, 2025, update, has indirectly influenced crypto markets, with some analysts suggesting it may diversify Bitcoin mining, though China retains dominance, holding a substantial portion of global hashrate, as per CCN’s April 2025 report.
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