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US President Donald Trump says crypto is important and wants the US to build dominance over China in the digital asset space.
“I want crypto. I think crypto’s important because if we don’t do it, China’s going to,” Trump said in an interview with Kristen Welker on NBC News’ Meet the Press that was released on May 4. “And it’s new, it’s very popular, it’s very hot,” he added.
Trump Criticizes Biden For “Violently” Attacking The Industry
CBS News’ Jennifer Jacobs reported on X that Trump wants to keep crypto “away from China.” According to her, the President warned that if the US does not build and maintain dominance in the digital asset space, “China will take it over,” similar to what they did with artificial intelligence (AI) and “so many other industries.”
Trump said he’s a big fan of cryptocurrency — “I want to keep it away from China.”
He said he favors it because “otherwise China will take it over, just like AI, just like so many other industries, or whatever you want to call them. Crypto is very important.” https://t.co/vuYreia9G4— Jennifer Jacobs (@JenniferJJacobs) May 5, 2025
Trump also went on to criticize the previous administration under former President Joe Biden for “violently” attacking crypto. Prior to Trump retaking the White House in January, several crypto firms were embroiled in legal cases with the US Securities and Exchange Commission (SEC) under former anti-crypto Chair Gary Gensler.
Since Trump’s entrance into the White House, the SEC has dropped multiple high profile cases against crypto firms.
Trump Says He Isn’t Aware Of Any Profits From His Meme Coin
During the CBS interview, Trump was also asked to respond to critics who accused him of profiting from his presidency through the launch of his Official Trump (TRUMP) meme coin. Initially, he replied by saying that he “was not profiting from anything.”
Thereafter, Welker asked, “So you’re not profiting off of the cryptocurrency at all?” The President responded by saying that he hasn’t “even looked.”
That follows a March analysis by the Financial Times, which found that the parties behind the token made $314 million from selling their holdings. It also showed the creators generated $36 million from fees.
Two companies, CIC Digital LLC, which is an affiliate of the Trump Organization, and Fight Fight Fight LLC, which is co-owned by CIC Digital, collectively own 80% of the meme coin’s 1 billion supply.
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