Former President Donald Trump has reiterated his strong support for crypto, emphasizing its resilience during market downturns and its growing acceptance.
In a recent interview with NBC News’ Meet the Press, Trump highlighted the importance of the U.S. leading in digital asset innovation to avoid falling behind countries like China.
He expressed his belief that crypto is crucial for the future, stating, “I want crypto,” and noted that it has remained robust compared to other market sectors during challenging times.
Trump criticized the Biden administration for its initial crackdown on cryptocurrencies, suggesting that the shift to a more lenient approach was politically motivated. He defended his involvement in the crypto space, asserting that his support for digital assets predates his presidential campaign and denying any personal financial gain from the Official Trump token (TRUMP). He stated, “I’m not profiting from anything,” and emphasized that he has contributed his entire presidential salary to the government.
When questioned about potential profits from the TRUMP token, which has seen a significant decline in market capitalization from nearly $15 billion to around $2 billion, Trump maintained that he had not closely monitored the token’s performance.
He also dismissed the idea of contributing any crypto-related earnings to the government, likening it to not giving away profits from his real estate holdings due to his presidential role.
The TRUMP token experienced a notable surge of over 70% recently after the announcement of an exclusive dinner event for top token holders, scheduled for May 22 at Trump National Golf Club.
This event, limited to the top 220 wallet holders, has raised concerns among lawmakers. Senators Elizabeth Warren and Adam Schiff have called for an ethics investigation, citing potential conflicts of interest and the risk of personal enrichment through access to presidential events.
Even some of Trump’s supporters have expressed discomfort with the situation. Senator Cynthia Lummis, a Bitcoin advocate, acknowledged her unease, stating, “This is my president that we’re talking about, but I am willing to say that this gives me pause.” The ongoing developments surrounding the TRUMP token and its implications for ethics in political fundraising continue to draw bipartisan scrutiny.
