Last year, Trump promised bitcoin bros a seat at the table. For better or worse, he wasn’t lying
CNN
It’s hard to overstate how much President Donald Trump has changed his tune on crypto, which he criticized in his first term as “highly volatile and based on thin air.”
Last July, Donald Trump made a campaign stop that served as his crypto coming out party. Trump, a guy who has an aide follow him around with a portable printer so he can read the internet, got onstage at the Bitcoin Conference in Nashville and promised the moon to a crowd of extremely online crypto-Libertarians. “Oh, you’re going to be very happy with me,” he said, before vowing to make America the “crypto capital of the planet.” With the zeal of the converted, he rattled off crypto shibboleths, promising to “fire” Securities and Exchange Commission Chair Gary Gensler (the Biden-era bogeyman the industry loved to blame for its problems), to create a “strategic national bitcoin stockpile” and even pardon Ross Ulbricht — the creator of the Silk Road digital marketplace used primarily for selling drugs on the dark web, who was serving a life sentence. Since retaking office, Trump has kept all of those promises (technically — Gensler stepped down before Trump could fire him). And he’s gone even further. It’s hard to overstate how much the president has changed his tune on crypto, which he criticized in his first term as “highly volatile and based on thin air.” Now, Trump’s personal wealth is estimated to include $2.9 billion tied to his digital asset projects — representing some 37% of his total fortune, according to an April report from the left-leaning State Democracy Defenders Fund. Bitcoin, a bellwether for crypto, has shot up 67% since Trump spoke in Nashville last year.
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