Trump stated at the White House event on July 6th that he now supports encrypted assets, partly because the United States needs to lead China in this field. He added that political factors and the support of encrypted users had also contributed to a change of attitude towards the industry.
From criticism of bitcoin to openness.
Trump said that he did not initially support encrypted assets, but later saw the market expanding and judged that the United States could not give China the relevant development opportunities. He described the industry as “still very viable” and said that China could make progress in that area if the United States did not act.
This statement also explains more directly why he moved from criticizing bitcoin in his early years to becoming one of the most prominent encrypted supporters in American politics. During his first presidential term, Trump had publicly expressed his displeasure with Bitcoin and other digital assets, and had referred to Bitcoin in media interviews as a “fake”.
Campaign fund-raising and voter factors are named.
Trump also stated that he had entered the field “a little out of politics”. He said that the subject had begun to receive more attention after seeing clear support from encrypted users.
During the campaign in 2024, Trump raised more than $4 million through encrypted assets, including Bitcoin, Ether, XRP, USDC, etc. Related fund-raising is also seen as part of its efforts to secure encrypted voter and industry funding.
Family business and Washington policy continue to receive attention.
At the same time, Trump denied that it supported encrypted assets for personal gain and stated that it would not discuss their encryption with their children. Shortly before his statement was published, a new round of questions about his family's income from encryption were raised.
Previous disclosures indicate that the latest financial disclosure by Trip involved over $1.4 billion in proceeds associated with encryption, mainly from proceeds related to memecoin and World Liberty Financial. It also rekindled into discussion how public officials should deal with private encrypted asset exposures when federal policy was being adjusted.
At the policy level, Trump also defended the encrypted position of the current Government and criticized the previous way in which the Biden Government had implemented the law. He claims that the situation of some encryption enterprises improved after his own clear shift towards supporting encryption, and that part of the investigation was cancelled upon his return to the White House.
The United States SEC has also adapted its handling of the encryption industry. Previous disclosures indicate that the SEC has moved encrypted assets out of the 2026 examination priority list, indicating a change in the regulatory focus over the previous period. At the same time, the United States Congress is still pushing for encrypted market structure legislation, and discussions continue on the CLARITY Act, and stabilization currency rules and regulatory powers remain the focus of disagreement.