Donald Trump Pulls a U-Turn on Crypto
Voters vote with their wallets — and Trump is courting crypto enthusiasts. Last week, Trump posted on Truth Social that he’s “very positive and open-minded to cryptocurrency companies” and that the US “must be the leader in the field.” This is a significant shift from his Presidency when he said he wasn’t “a fan” of crypto. By 2023, Trump disclosed a $1M investment in Ethereum and has started accepting donations in crypto.
- According to Arkham, a crypto wallet believed to belong to Trump has over $10M in memecoin MAGA.
- A recent survey by Grayscale and The Harris Poll showed that 47% of respondents expect to hold some crypto in their portfolio — up from 40% last year.
Bipartisan bull run: Last week, the House approved FIT21, the most significant US crypto policy to regulate the industry. This is the first time a major crypto bill has passed Congress, per CoinDesk. While the Republican-led bill is unlikely to get Senate approval, it’s a significant step forward as it received support from Democrats.
