Trump Says U.S. Must Lead in Crypto or Risk Falling Behind China

U.S. President Donald Trump has publicly reinforced his support for cryptocurrency during an interview aired on May 4. Speaking on NBC’s Meet the Press, Trump discussed crypto alongside broader topics like foreign policy and the economy, framing digital assets as a strategic issue for the United States.

Good to know

• Trump said he supports crypto and sees it as key to U.S. competitiveness.
• He denied any personal financial gain from crypto involvement.
• Criticized President Biden’s shifting stance on crypto regulation.

During the nationally televised segment, Trump made it clear he sees digital assets as important for national strength. “I’m in favor of crypto,” he said. When asked if he was personally profiting, he responded, “I’m not profiting from anything. All I’m doing is, I started this long before the election. I want crypto. I think crypto’s important because if we don’t do it, China’s going to.”

Trump pointed to the digital asset market’s staying power, even during broader downturns. “It’s new, it’s very popular, it’s very hot. If you look at the market, when the market went down, that stayed much stronger than other aspects of the market,” he explained. “But I want crypto because a lot of people, millions of people, want it.”

The president also took aim at his political rival, President Joe Biden, saying the current administration took a hard stance against crypto before softening its position in response to voter pressure. “I don’t know if you know that Biden went after it violently, and then before the election, he changed his tune entirely—his head of the SEC, everybody—changed their tune. You know why? Because there were hundreds of millions of people that are participating in crypto, and they wanted to get their votes. But it didn’t work,” Trump claimed.

Pressed again on whether he was personally benefiting from crypto, Trump insisted, “I haven’t even looked.”

Trump’s stance contrasts sharply with the regulatory approach under Biden. The SEC, led by Chair Gary Gensler, has ramped up enforcement actions against crypto platforms. Meanwhile, Trump’s administration leaned into crypto, backing policies aimed at growing the sector.