Updated: January 23, 2025, 11:56 AM EST
US President Donald Trump reiterated his ‘America First’ stance on cryptocurrency.
President Trump went live from the World Economic Forum in Davos, Switzerland, touting his administration’s initial plans and saying the United States would become the “world capital” of cryptocurrency.
“America has the most oil and gas on the planet, and we will use it,” Trump said Thursday morning. “This will not only lower the cost of virtually every good and service, but will also make America a manufacturing superpower and an “We will make it the world capital of cryptocurrency.”
In August, Trump teased his upcoming cryptocurrency project in a post on The project ultimately world free financeA DeFi protocol that counts Trump as its “top cryptocurrency advocate.”
Just three days before Trump was inaugurated as the 47th president of the United States, he launched Official Trump, a memecoin that now has a market capitalization of $8 billion, according to The Block’s TRUMP price data. So far, the only time he has publicly mentioned the TRUMP token was during a White House briefing with AI leaders.
“I don’t know much about it other than I launched it,” Trump said. “I heard it was a huge success, but I haven’t confirmed it yet.”
On Thursday morning, the price of Bitcoin briefly surged to $106,000 after Senator Cynthia Lummis teased the upcoming announcement. But the news was already known.The U.S. Senate Banking Committee voted for cryptocurrency-friendly Lummis to lead the newly created Digital Assets Subcommittee.
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About the author
Jason is the U.S. news editor at The Block. He previously worked as a staff writer and later as editor-in-chief at Benzinga, a financial news and data company. He led Benzinga’s daily market coverage as well as the outlet’s expansion of the cannabis, cryptocurrency and sports betting verticals. He holds a bachelor’s degree in journalism from Central Michigan University and lives in suburban Detroit, Michigan. X Follow him at @JasonShubnell.
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