President Trump Doubles Down on His Support for Cryptocurrency

President Donald Trump has cut short an interview with NBC News after being pressed on concerns over potential profits from his presidency and his support for cryptocurrency.

The President, known for his blunt speaking style, was interviewing with Ben Siegel in Mar-A-Lago on Monday. When Siegel inquired about a recent Axios article that raised concerns regarding Trump’s focus on personal gains and potential profits, the interview took a sharp turn.

“I want crypto,” Trump stated plainly when asked about concerns regarding potential profits from his presidency.

The President went on to highlight the strategic importance and growing popularity of crypto assets.

“I think crypto is important because if we don’t do it, China is going to. It’s new. It’s very unpopular. It’s very hot.”

Trump also noted the sector’s performance during recent market turbulence. According to him, crypto “stayed much stronger than other aspects of the market.”

The President highlighted the widespread adoption, which is a factor that contributes to his pro-crypto position. He stated that the technology has become too important to ignore, but the Biden administration is initially taking a harsh regulatory approach before softening its stance for political purposes.

“They’re going to go light on crypto because they need the youth vote,” Trump added.

Trump denies profiting from his meme coin

When asked about the Official Trump token (TRUMP) on the Solana blockchain and whether he stands to benefit financially from it, the President responded in the negative.

“I’m not profiting from anything. I don’t need to profit. I’m the richest man to ever enter politics by far. They have no interest in anything other than getting the youth vote.”

Trump further stated that his support for cryptocurrency predates his current presidential campaign.

“I’ve been a fan of crypto for a long time. I like the technology. I think it’s the future. And I’m a big fan of the people who are in crypto. They’re passionate about what they do and they’re innovators.”

The TRUMP token has seen considerable price volatility since its launch and has been a point of contention among lawmakers. Some Democratic senators have raised concerns about potential ethics violations and conflicts of interest related to the token, given Trump’s prioritisation of personal gains, as noted by Axios.

These concerns stem from the token’s promotional efforts, which may inadvertently engage senators in spreading awareness for the TRUMP token and its underlying blockchain.

This pro-crypto messaging comes as digital assets play an increasingly visible role in campaign finance and political discourse. Several candidates across the political sector, including those running for Senate and House seats, have also accepted cryptocurrency donations.

Additionally, there has been interest in exploring blockchain technology as a solution for improving transparency in political funding.

Trump’s latest comments suggest he intends to position himself as a crypto-friendly president. However, his TRUMP meme coin has failed to sustain its momentum, and as per recent data, the price is down by over 85% since its all-time high in January.

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