KEY POINTS
- Trump said the US is actually ‘way ahead’ in the crypto space, but in terms of regulations, it is falling behind
- He said his government ended the previous admin’s ‘war on crypto’ and stopped the ‘lawless’ OCP 2.0
- He said stablecoins will help drive the dominance of the US dollar for many years
- Trump expects to turn the US into the ‘undisputed Bitcoin superpower’ of the world
U.S. President Donald Trump delivered a recorded speech at the Blockworks-hosted Digital Asset Summit 2025 in New York, promising continued support for blockchain and the broader cryptocurrency industry.
The president made special mentions for Bitcoin, but he especially highlighted U.S. dollar-backed stablecoins and how they can revolutionize modern finance.
US is ‘Way Ahead’ in Crypto Space
In his nearly three-minute video address, Trump hailed the work his administration has done for the crypto industry since he came into power.
He acknowledged that it won’t be easy to make the United States “dominate crypto,” but he noted that work has already been done in some ways, including his executive order that established a strategic Bitcoin reserve and a digital assets stockpile. “It’s not gonna be easy but we’re way ahead,” he said.
While the U.S. may be “way ahead” in some facets of crypto development, the country is falling behind in regulation, with the European Union leading the race.
On Ending Biden’s ‘War on Crypto’
Aside from highlighting his government’s work toward resetting the White House’s relationship with the crypto industry, Trump also reiterated that he has done well in “ending the last administration’s war on crypto and Bitcoin.”
He said such efforts include “stopping the lawless Operation Choke Point 2.0,” which, according to multiple tech and crypto leaders, was a coordinated effort between the Biden government and financial institutions to “debank” them.
He criticized the operation’s “government weaponization,” saying it was a project that “went beyond” what regulation is supposed to be. “Frankly, it was a disgrace,” he said.
Supporting Stablecoin Regulation to Modernize Finance
Trump then turned his attention to the booming stablecoin segment, reaffirming his support for a “landmark legislation” that provides stablecoin issuers with “simple, common sense” rules of the road.
He projected that stablecoins will improve banking and payment systems and enhance user experience due to the innovations around stablecoins.
“With the dollar-backed stablecoins, you’ll help expand the dominance of the U.S. dollar, and many, many years to come, it will be at the top, and that’s where we wanna keep it,” he said.
Trump’s specific mention of American stablecoins is crucial for the industry, since it indicates the Trump government will support development around U.S.-based stablecoins.
Some of the most popular U.S.-dollar backed stablecoins are Tether’s USDt, Circle’s USDC, DAI, USDS, Ethena USDE, PayPal’s PYUSD, and Ripple’s RLUSD.
Making the US the World’s ‘Bitcoin Superpower’
Just as he promised Bitcoiners at the Bitcoin 2024 conference in Nashville last year, Trump once again pledged to support growth around the world’s most valuable crypto asset.
“Together, we will make America the undisputed Bitcoin superpower and the crypto capital of the world,” he said.
Trump’s rise to power saw Bitcoin surging to new all-time highs above $108,000, but since the January multi-rally, the digital currency has fallen significantly, as affected by Trump’s trade war and a downtrend in global markets.
The president’s speech failed to lift BTC, as the digital coin instead bled some $2,000 hours after the speech aired at the conference, from the $86,000 highs to around $84,000 as of early Friday.
It remains to be seen whether BTC will be able to recover from the past week’s price downturn, but for now, it appears unmoved by Trump’s positive statements.
