His campaign website invited supporters to send donations in crypto, claiming that Trump ‘stands ready to embrace new technologies that will Make America Great Again’.
Industry players backed him heavily, and, according to a tally by Fortune, crypto firms donated $18 million to his inauguration fund.
A little over a month into Trump’s administration, a White House fact sheet quoted Trump as saying: “I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry.”
Many worry Trump’s crypto holdings could nudge his administration towards softer regulations of the industry that just happen to boost the value of his own investments, yet White House Press Secretary Karoline Leavitt said in May that the president was abiding by all applicable conflict-of-interest laws.
“I think everybody, the American public, believes it’s absurd for anyone to insinuate that this president is profiting off of the presidency,” she said.
