President Donald Trump expressed strong support for the cryptocurrency industry in an interview aired Sunday, stating that under his administration, the U.S. has emerged as the global leader in the sector.
Trump Wants To Make Crypto ‘Great’ For America
Speaking to CBS News, Trump said that cryptocurrency is a “massive” industry and will receive 100% support from his administration.
“And I’m very proud to say that we are far and away ahead of China and everybody else. Now, China is getting into it very big, right now,” he stated.
Trump said he’s “glad” his sons are involved in the industry, though he admitted he doesn’t know anything about the sector himself.
“I know very little about it, other than one thing. It’s a huge industry,” he stated.
Trump added that he campaigned “positively” for the industry, and he now wants to make crypto great for the country.
Trump Says CZ Was A ‘Victim’
Trump criticized the Biden administration’s treatment of Changpeng “CZ” Zhao, stating that the Binance (CRYPTO: BNB) co-founder was treated “badly” and was wrongfully incarcerated.
“I was told that he was a victim,” the president said.
The ‘Crypto President’
CZ was pardoned by Trump after pleading guilty in 2023 to violating the Bank Secrecy Act, a law that requires financial institutions to help U.S. government agencies detect and prevent money laundering.
However, the pardon has met with criticism, with Sen. Elizabeth Warren (D-Mass.) and Sen. Adam Schiff (D-CA) introducing a Senate resolution condemning the decision. The lawmakers alleged that Binance’s involvement in a $2 billion investment through World Liberty Financial and Trump’s personal stake in the platform represent “clear corruption and influence-peddling.”
Trump and his family have reportedly earned over $1 billion in pre-tax profits through ventures spanning memecoins, stablecoins, trading cards and decentralized finance projects.
Meanwhile, a key cryptocurrency legislation, the GENIUS Act, was passed during his tenure, while the market structure legislation sailed through the House and will be debated in the Senate.
Price Action: At the time of writing, WLFI was exchanging hands at $0.1312, down 4.84% in the last 24 hours, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
