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🇺🇸🇨🇳 President Trump says "we are leading China in crypto."
President Trump's claim that the U.S. is leading China in crypto comes amid his family's venture with the memecoin $TRUMP, which has raised ethical concerns as profits flow directly to the Trumps, as reported by The New York Times on May 13, 2025.
A small company with links in China and financial difficulties announced a purchase of $300 million of $TRUMP and Bitcoin, which could inflate the value of the memecoin, despite its lack of utility beyond speculation, highlighting the speculative madness surrounding Trump's crypto projects.
The tariff war between the U.S. and China, which is intensifying according to a Reuters report from May 14, 2025, has indirectly impacted crypto markets, with some experts pointing out that it could decentralize Bitcoin mining, although China still dominates, controlling a significant portion of the global hash rate according to CCN's analysis from April 2025.