Author: Mat Di Salvo
Translated by: TechFlow
U.S. President Trump (Photo: Shutterstock)
Brief Overview
Donald Trump returns to the White House as the 47th U.S. President with a campaign platform supporting cryptocurrencies.
However, Trump has not always held this stance: he once called Bitcoin a "scam" and stated he was not a fan.
Now, Trump has launched his own Solana meme coin, multiple Non-Fungible Token series, and a DeFi project.
Donald Trump Jr. stated that this crypto platform will be egalitarian. "For a long time, ordinary Americans have been exploited by big banks and financial elites. It's time for us to unite and take action," he said on X (formerly Twitter).
The day after the second assassination attempt, Trump launched the project during a live interview with Rug Radio (a sister company of Decrypt). World Liberty Financial aims to provide cryptocurrency lending services on the Ethereum network.
Compared to other crypto token launches, the project started somewhat poorly, selling only 4% of its allocated tokens. However, sales significantly increased before Trump's inauguration, with the remaining allocations selling out on January 20th - the day he planned to return to the White House.
Decrypt subsequently reported that the World Liberty Financial project launched its own stablecoin. On-chain data shows that the token is available on both Ethereum and BNB chains.
The Republicans also added more crypto personalities to their team. Bitcoin supporter Robert F. Kennedy Jr. suspended his campaign to support Trump and then joined Trump's transition team. He is now the Secretary of Health and Human Services. Howard Lutnick, CEO of Cantor Fitzgerald, also became part of Trump's political team and now serves as the Secretary of Commerce.
Meanwhile, famous Dogecoin enthusiast Elon Musk is leading the Department of Government Efficiency (DOGE), a plan to cut budgets and reduce staff, though he says he will step down soon.
Crypto Ambitions Grow
In September, Trump became the first sitting or former US president known to buy something with BTC: at the popular crypto bar PubKey in New York City, the former president bought a burger with cryptocurrency.
"This is the beginning of a new era," he said, referring to the digital asset industry. And this wasn't just talk: on January 17th, he launched a meme coin running on Solana, which is now one of the most valuable meme coins in existence.
The launch of the TRUMP token was widely criticized by politicians and analysts, with some viewing it as a potential avenue for corruption. While the price has significantly dropped from its peak, it still sees trading demand, including during an exclusive dinner Trump planned for top TRUMP holders in April.
However, President Trump doesn't want to stop there.
Within his first three months in office, this Republican established a strategic BTC reserve and became the first president to sign a crypto-related bill - ending the IRS's proposed DeFi broker rule that could have jeopardized the development of US crypto applications.
Trump's SEC also withdrew multiple lawsuits against crypto companies from the previous government. His family continues - albeit controversially - to advance their own crypto businesses: Donald Trump Jr. and Eric Trump are launching American Bitcoin, collaborating with Bitcoin mining company Hut8, planning to become "the world's largest and most efficient Bitcoin miners".
Trump's media company, Trump Media and Technology Group, also signed an agreement with Crypto.com in March to provide ETF products, with the company planning to invest its own funds in these products.
Trump's critics argue that the president's digital asset businesses constitute a conflict of interest, while Silicon Valley leaders say he supports innovation. One thing is certain: President Trump seems to be fully committed to cryptocurrencies, setting aside his previous views on the industry.
