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From “War on Crypto” to White House Summit: Trump’s Digital Currency Pivot
In a stunning turn of events, President Trump has gone from being a vocal critic of cryptocurrency to embracing the technology and hosting a high-profile White House summit. Just four years ago, Trump referred to cryptocurrency as “a scam” and a “flawed system.” However, his administration has taken a significant U-turn, with Trump himself launching his own digital token and signing an executive order establishing a Strategic Bitcoin Reserve and Digital Asset Stockpile.
The shift in approach comes at a time when the industry is facing immense regulatory scrutiny. Despite the controversy surrounding cryptocurrency, nearly half of all corporate dollars in the election cycle came from cryptocurrency interests, highlighting the growing influence of the sector on U.S. politics.
Despite the growing visibility of cryptocurrency at the White House, most Americans still don’t own any digital assets. A 2024 survey by Pew Research Center found that only 17% of American adults have invested in, traded or used cryptocurrency.
The Trump administration’s sudden pivot towards embracing cryptocurrency has raised concerns about potential conflicts between his business interests and official duties.
Source: https://coincentral.com/from-war-on-crypto-to-white-house-summit-trumps-digital-currency-pivot/
