The Trump administration is accelerating its embrace of cryptocurrency.
On May 28 local time, at this year's Bitcoin 2025 conference, U.S. Vice President JD Vance emphasized that cryptocurrency (especially Bitcoin) has become part of the mainstream U.S. economy and that it "will be here to stay":
"I am here today to clearly announce that under President Trump's leadership, cryptocurrency finally has a supporter and ally in the White House."
Vlad Tenev, CEO of the stock and cryptocurrency trading platform Robinhood, said in an interview:
"Under the previous administration, we basically experienced a carpet bombing of the entire industry. Now suddenly, you can start to attack... We now have a government that is open to technology."
Over the past year, the price of Bitcoin has increased by approximately 60%.
Stablecoin legislation becomes a policy focus
In his speech at the conference, Vance particularly emphasized the importance of advancing the (GENIUS Act), which aims to create a regulatory framework for dollar-pegged stablecoins. He stated:
"Dollar-pegged stablecoins, especially after the (GENIUS Act) is passed, will only help the U.S. economy and the dollar."
This legislation has passed a key procedural vote in the Senate with the support of 15 Democratic lawmakers, but may face more resistance in the House of Representatives.
David Sacks, the top cryptocurrency and AI advisor to the Trump administration, revealed to the media that there are already over $200 billion in unregulated stablecoins on the market, and a legal framework "could create trillions of dollars in demand for U.S. Treasury bonds almost overnight."
The Trump family's cryptocurrency empire: interests and doubts coexist
The Trump administration's enthusiasm for cryptocurrency comes at a time when the president's family is deeply involved in the industry.
Reports suggest that Trump himself owns $2.9 billion in cryptocurrency assets, and his Trump Media and Technology Group has just announced raising $2.5 billion to invest in Bitcoin. Meanwhile, the president and his sons have ties to the cryptocurrency exchange World Liberty Financial, and Eric Trump co-founded a Bitcoin mining company.
The media also pointed out that Vance himself holds Bitcoin worth $250,000 to $500,000. These close financial ties have drawn criticism from Democrats and some ethics experts, who believe that Trump's cryptocurrency investments constitute a conflict of interest.
