Donald Trump Pledges To 'Do Something Great With Crypto'—Here's What He's Done So Far

President-elect Donald Trump on Thursday declared his intention to "do something great with crypto," signaling a significant shift in U.S. policy on digital assets.

Trump emphasized the need for the United States to stay ahead of global competitors, particularly China, in embracing cryptocurrency.

"We don't want China or anybody else, and not just China, but others, embracing it while we fall behind," Trump said in an interview with CNBC.

On artificial intelligence, Trump reiterated the need for the U.S. to lead the rapidly advancing field. "We're going to be way ahead of [sic] AI," he stated.

He highlighted the importance of producing substantial amounts of electricity to support technological advancements, noting, "We need more than twice what we already have."

But as Trump makes new promises, Benzinga examines what he has already done to engage with the cryptocurrency industry.

World Liberty Initiative's $56M Ethereum Purchase

One of the most notable moves by Trump is the purchase of $56 million worth of Ethereum ETH/USD by World Liberty Initiative, the cryptocurrency directly affiliated with the President-elect.

These purchases are rumored to be connected to World Liberty Financial, which is yet to issue a token.

The project also bagged $1 million in Chainlink LINK/USD and $1 million in Aave AAVE/USD on Dec. 12, according to data.

Also Read: Waterfall Network Raises $11.6 Million To Enhance Blockchain Scalability And Decentralization

Appointment of David Atkins as the First Crypto Czar

Earlier this month, Trump announced Paul Atkins as his nominee to lead the U.S. Securities and Exchange Commission (SEC).

Atkins, the founder and CEO of Patomak Global Partners, a risk management consultancy, has previously described Bitcoin BTC/USD as a "revolutionary technology" that should not be stifled by excessive regulation.

Trump also announced the appointment of former PayPal PYPL Chief Operating Officer David Sacks as his “White House A.I. & Crypto Czar,” signaling further efforts to reform U.S. policy.

In a Truth Social post, Trump stated that Sacks would focus on developing a legal framework to provide the clarity the crypto industry has long sought, enabling it to thrive in the United States.

Focus on Crypto-Friendly Regulation

Trump's administration has signaled plans for a regulatory framework that balances fostering innovation with investor protection.

By prioritizing clear guidelines, his approach contrasts sharply with the enforcement-heavy strategies seen in previous administrations.

Trump, who previously criticized cryptos as a scam, shifted his stance during his campaign, pledging to transform the United States into the “crypto capital of the planet” and proposing the creation of a national Bitcoin reserve.

Trump's recent comments, combined with his own track record, suggest a more proactive stance on cryptocurrency adoption and regulation during his term as the president.

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