- Binance co-founder described Donald Trump as the Crypto President.
- Trump is a renowned advocate for cryptocurrency solutions.
- Bitcoin reached a new all-time high of $125,725.
Binance co-founder Changpeng Zhao (CZ) has described US President Donald Trump as the Crypto President. In his latest post on X, Zhao cited Trump’s speech from around two months ago, during which Trump noted that cryptocurrency will fix the traditional financial system, which is undergoing significant challenges.
Donald Trump’s crypto advocacy
Addressing the press before signing the Crypto Bill last July, Trump said that many Americans are unaware of the technical deficiencies of the current financial system. According to the US President, the backbone of the current monetary system is decades out of date, citing the constant delays in transactions that take days and sometimes weeks to complete.
Before signing the Crypto Bill into law, Trump noted that the new rule would trigger a 21st-century upgrade in America’s ancient financial system. According to the President, the US financial sector will use state-of-the-art crypto technology to achieve its goal of revolutionizing its monetary system.
Trump’s crypto advocacy is well-documented and increased in momentum during the campaigns leading up to the last US Presidential election. The then-Republican candidate promised to take steps that would establish the US as the crypto capital of the world and a leading hub for crypto development.
Bitcoin brings up memories
Notably, Trump has evidently taken steps to pursue his promises, including the establishment of a strategic crypto reserve for the US government, while making efforts to create substantive laws that would provide clear rules for the cryptocurrency industry. Such efforts came to the fore after the latest resurgence in Bitcoin price, probably rekindling users’ awareness of the effect of such moves as initiated by Trump.
In the meantime, Bitcoin surged to a new all-time high on Sunday morning, reaching a record $125,725, according to data from TradingView. The pioneer cryptocurrency maintains its leadership position as the leading digital asset despite the emergence of several other cryptos focused on addressing specific technical issues in the blockchain ecosystem.
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