- Trump said China’s crypto ambitions helped change his earlier anti-crypto position.
- His 2024 campaign accepted over $4 million in digital asset donations.
- Trump faces fresh scrutiny over crypto income tied to family-linked ventures.
U.S. President Donald Trump tied his crypto shift to politics, voter interest, and competition with China during an Oval Office press conference on Monday.
The comments came as he announced “Trump Accounts,” investment accounts for children under 18. When asked whether the accounts would allow Bitcoin, he gave a wider answer about national strategy.
Trump Ties Crypto Shift To China And Voter Demand
Donald Trump said he became “a big crypto guy” because he believes the United States must not let China dominate the sector. He said the industry had grown into a major financial force after receiving little attention during his first term.
“I’m a fan, I wasn’t initially,” Trump said, adding that he did not know much about the industry at first. He also noted that politics influenced his position, considering that many voters strongly supported digital assets.
Trump previously took a much harder line on the sector. During his first term, he said he was “not a fan” of crypto and later called Bitcoin “a scam.”
However, his 2024 campaign later accepted more than $4 million in digital asset donations. Those contributions included Bitcoin, Ethereum, XRP, USDC, and other tokens.
Trump said he noticed money entering Bitcoin and other digital assets. He then linked his support to reports that China could make a heavier move into the sector.
“If we didn’t do it, China would do it,” he said.
Family Crypto Income Raises New Ethics Scrutiny
The remarks also came after fresh questions over the Trump family’s income from crypto ventures. Trump recently denied knowing about a $1.4 billion crypto windfall disclosed in his latest financial filing.
That filing connected much of the income to Trump-branded projects, including World Liberty Financial and token-related licensing arrangements. Trump and his sons are also listed as co-founders of World Liberty Financial, further linking the family to the platform.
Because of those ties, the platform has drawn scrutiny from lawmakers and ethics groups, particularly as Trump continues to shape crypto policy from the White House. Still, Trump rejected claims that his support for the industry was driven by personal or family business interests.
He said he does not discuss his children’s crypto business activity with them. “I let my kids do whatever the hell they do,” he said.
Trump also claimed investigations were dropped after he became strongly pro-crypto. However, enforcement changes occurred under his administration, including withdrawn or settled SEC actions involving crypto companies.
Related: Trump Suggests “Something Could Happen” With Bitcoin in New Trump Accounts Launch
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