Trump Says ‘I Want Crypto’ and Warns China Could Take Lead If U.S. Delays

Highlights:

• Donald Trump expresses strong crypto support, warns China may lead digital assets if U.S. falters.
• Trump denies profiting from TRUMP token and reaffirms long-time crypto support.
• TRUMP token’s market cap has dropped significantly, from $15B at launch to $2B now.

In a recent NBC News interview, President Donald Trump emphasized his continued support for crypto, declaring, “I want crypto.” He emphasized the need for the U.S. to lead in digital assets, warning that if it doesn’t, China will take charge. Trump expressed strong support for crypto, saying, “I’m a big fan of crypto because I want to keep it away from China.” His statement highlights a wider effort to limit China’s influence in key tech areas, such as AI, semiconductors, and financial technologies.

“Crypto is important. It’s new, it’s very popular, it’s very hot,” Trump said. He also criticized the Biden administration for switching its stance on crypto, claiming it was done for political reasons. Trump noted his support for crypto started long before his current presidential campaign.

JUST IN: 🇺🇸 President Trump says, "I want crypto. Crypto is important because if we don't do it, China will."

pic.twitter.com/oO2kPjjicy

— Bitcoin Magazine (@BitcoinMagazine) May 4, 2025

Trump Denies Profiting from TRUMP Token Amid Ethics Concerns

When questioned about profiting from the TRUMP token, the president stated he was not earning any money from it. He mentioned that his support for crypto started long before the current campaign. “I haven’t even looked,” he said, mentioning that he donated his entire presidential salary. “Should I contribute all of my real estate that I’ve owned for many years if it goes up a little bit because I’m president and doing a good job? I don’t think so,” he added.

The president mentioned that he plans to keep donating his full salary throughout his current term in office, just like before. The TRUMP token, which had previously reached a market capitalization of almost $15 billion, has sharply dropped in value since President Trump’s inauguration. According to CoinMarketCap, its current market cap is around $2 billion.

Last week, the TRUMP token jumped over 70% after news spread about a special dinner for top token holders. The event, set for May 22 at Trump National Golf Club, is open only to the top 220 wallets. The announcement raised concerns across both parties. Senators Elizabeth Warren and Adam Schiff called for an ethics review, warning it might allow wealthy supporters to buy access to the president.

The top $TRUMP Coin holders will have a private DINNER WITH PRESIDENT TRUMP on May 22nd at the BEAUTIFUL Trump National Club in Washington, D.C. It will be a night to remember! Thank You! And Have Fun! 

Click Here For Details: https://t.co/Nm31BxQGx5

— TrumpMeme (@GetTrumpMemes) April 23, 2025

Some of Trump’s allies are also uneasy. Senator Cynthia Lummis, a Trump supporter and Bitcoin backer, shared her concerns. She said, “This is my president that we’re talking about, but I am willing to say that this gives me pause,” as reported by CNBC. Moreover, the Trump family’s WLFI business deals have raised questions about possible ethics issues. Still, Trump remains firm on pushing crypto in the region.

Trade Talks Continue as New Tariffs Approach

President Trump ruled out talks with Chinese President Xi Jinping but confirmed that Chinese and U.S. officials are still negotiating. In April, the U.S. imposed a 10% tariff on most countries, while temporarily suspending some higher tariffs. The administration has also applied 25% tariffs on autos, steel, and aluminum, and 145% on Chinese imports.

Trump further announced plans to impose a 100% tariff on foreign-made films, aiming to protect the U.S. film industry from outside influence. The new tariffs Trump hinted at could further heighten market instability, potentially driving more interest in crypto.