Trump calls himself the “first crypto president” and attacks Biden’s crypto stance.
Introduces US Bitcoin Reserve, GENIUS Act and stablecoin framework.
Political, market and personal controversies stir volatility during crypto outreach.
Trump declares crypto agenda at Coinbase Summit, unveiling national Bitcoin reserve, stablecoin legislation and calling himself the first crypto president in prerecorded message.
TRUMP DECLARES CRYPTO AMBITIONS AT COINBASE SUMMIT
President Donald Trump has made his boldest crypto statement yet, appearing via prerecorded message at Coinbase’s State of Crypto Summit to lay out sweeping federal crypto initiatives and a clear legislative agenda. While not physically present, the speech marked only his second direct address to the crypto sector since taking office and underscored his administration’s intention to secure U.S. dominance in the digital asset economy.
In a sharply worded address, Trump dubbed himself “the first crypto president,” launching attacks on what he labeled the Biden administration’s “war on crypto” and laying claim to a growing list of pro-crypto federal efforts. The Coinbase event, attended by some of the industry’s most influential figures, served as the platform for the rollout of these policies amid rising political scrutiny, a volatile market backdrop and intensifying regulatory momentum in Washington.
PRESIDENTIAL CRYPTO PUSH
Trump’s message was clear: he’s not finished. “My administration is working with Congress to pass the GENIUS Act supporting the creation of dollar-backed stablecoins,” he said. “We also will be working to create clear and simple market frameworks that will allow America to dominate the future of crypto and Bitcoin.”
He detailed multiple policy milestones already achieved or underway, including:
Formation of a presidential working group on digital assets
The establishment of a U.S. Strategic Bitcoin Reserve (SBR)
The nomination of Paul Atkins, a noted market liberal, to chair the SEC
The proposed United States Digital Asset Stockpile program
The GENIUS Act, which recently passed cloture in the Senate with a 68–30 vote, is expected to receive a final vote soon. It would formalize stablecoin regulation by supporting fully dollar-backed tokens issued under tight federal oversight. Meanwhile, the CLARITY Act, aimed at clarifying the roles of the SEC and CFTC in crypto oversight, is advancing in the House of Representatives.
CONTROVERSIES CLOUD MESSAGING
While Trump’s summit appearance made headlines, his broader week has been mired in controversy, adding layers of complexity to his crypto outreach.
The president’s $45 million military parade plan, recently passed spending bill and deployment of 4,000 National Guard troops to Los Angeles in response to protests have fueled domestic tensions. On top of that, a public feud with Tesla CEO Elon Musk over government contracts and SpaceX subsidies added a dose of personal drama, triggering volatility across financial markets.
There’s also growing pushback from Democrats, particularly around concerns that Trump’s crypto policies may benefit him personally. His family-backed venture, World Liberty Financial, has issued its own stablecoin, raising alarms about potential conflicts of interest. Some lawmakers have hinted they may vote against crypto bills unless ethics provisions are added to address these concerns.
CRYPTO MARKET REACTS WITH JITTERS
While the Coinbase event was positioned as a show of industry support and federal alignment, the crypto markets were less enthusiastic. Bitcoin dropped 3%, Ethereum fell nearly 9%, XRP slid 5% and Solana plunged close to 10%. Analysts cited a combination of geopolitical uncertainty, market fatigue and the political theatrics surrounding Trump’s policies as key factors.
The macro environment is also weighing on sentiment. With escalating conflict in the Middle East and broader economic jitters, investors have been shifting into safer assets, pulling liquidity from the crypto sector. Trump’s move to engage the crypto community may have been partly aimed at reversing this sentiment and restoring confidence.
HIGH PROFILE SUMMIT, BOLD STATEMENTS
Despite the turbulence, the State of Crypto Summit remained a high-profile affair. Featured speakers included:
Brian Armstrong, CEO of Coinbase
Jeremy Allaire, CEO of Circle
David Sacks, White House Crypto and AI Czar
Caroline Pham, Acting Chair of the CFTC
Anthony Scaramucci, Founder of SkyBridge Capital
Yet it was Trump’s video that stole the spotlight. In closing, he praised the crypto sector’s resilience and innovation, congratulating attendees and expressing his faith in the industry’s future.
“If Bitcoin rallies to $500,000 or $1 million, then sure, it could fall $200,000 from those levels,” he said. “But right now, it only takes $50 million to turn the engine of the crypto economy.”
THE POLITICS OF DIGITAL DOMINANCE
Trump’s pivot to crypto is not just a tech play – it’s a political strategy. By embracing digital assets, he positions himself at odds with the previous administration’s regulation-heavy approach while appealing to a vocal and growing base of tech-savvy voters and donors.
His calls for simplified regulation, stronger institutional support for crypto and the legitimization of stablecoins through national policy signal a calculated bet on crypto as a wedge issue heading into election season. But the baggage surrounding potential self-dealing, along with market instability, leaves a complicated path ahead.
FINAL THOUGHTS
Whether Trump’s crypto promises materialize into sustainable policy remains to be seen. But with bold proclamations, active legislation and increasing executive involvement, the White House has clearly placed a major political bet on the future of digital assets. For supporters, this could mark the start of a new era of American blockchain leadership. For critics, it’s a high-stakes gamble entangled with personal interests and unpredictable markets.
〈Trump Declares Crypto Agenda at Coinbase Summit〉這篇文章最早發佈於《CoinRank》。
