Donald Trump’s Stance on Crypto (2025)

Is Trump a pro-crypto candidate?

President Trump ran a pro-crypto campaign in 2024. Let’s walk through some of his campaign promises prior to his re-election:

• Friendly crypto regulations: Trump’s official platform stated that ‘Republicans will end Democrats’ unlawful and un-American Crypto crackdown and oppose the creation of a Central Bank Digital Currency.” 
• BTC mined in America: On Truth Social, President Trump called for all Bitcoin to be mined in America. While it’s unclear how this could be enforced due to Bitcoin’s decentralized nature, it’s a sign that Trump is extending his ‘America First’ stance to cryptocurrency.
• Strategic reserve: President Trump promised a ‘national Bitcoin stockpile’ which could be used to stabilize the economy and maintain the dollar’s dominant position.
• Crypto for campaign funding: In the past few years, Trump has used crypto-assets as a source of campaign funding. In 2022, President Trump unveiled his own signature NFT collection. In 2024, the Trump campaign accepted crypto campaign donations.

In the weeks following Trump’s successful re-election, BTC hit new all-time highs — surpassing $100,000 for the first time. It’s likely that optimism about Trump’s crypto-friendly policies was part of the reason behind this price surge — labeled by the media as the ‘Trump Pump’. 

It’s likely that Trump returning to the White House will lead to increased investment from venture capitalists, bitcoin miners, and potentially even public pension funds. 

However, some critics within the crypto industry — such as Uniswap Labs’s Marvin Ammori — argue that Trump's pro-crypto campaign promises will not lead to real action due to the lobbying power of traditional finance.

Is the crypto industry backing Trump? 

President Trump’s re-election campaign received contributions from some of the biggest names in crypto. 

Kraken CEO Jesse Powell and Tyler and Cameron Winklevoss, the co-founders of Gemini, have each made substantial contributions to the Trump campaign. 

In a post on X, Tyler Winklevoss stated the following:

"Over the past few years, the Biden Administration has openly declared war against crypto. It has weaponized multiple government agencies to bully, harass, and sue the good actors in our industry in an effort to destroy it… President Donald J. Trump is the pro-Bitcoin, pro-crypto, and pro-business choice.” 

How is Biden regulating crypto?

The Biden Administration was perceived by many to be anti-crypto. 

Biden-appointed SEC Chairman Gary Gensler was called one of cryptocurrency’s ‘most implacable foes’ by Politico. Under Gensler’s leadership, the SEC filed lawsuits against prominent cryptocurrency exchanges like Coinbase and Kraken. 

In addition, Gemini CEO Tyler Winklevoss has claimed that under Biden, federal agencies warned banks not to accept crypto companies as clients behind closed doors. 

It’s likely that under a second Trump Administration, federal agencies will take a friendlier stance towards cryptocurrency. Trump announced that he would nominate Paul Atkins as SEC chair — which was described by many analysts as a crypto-friendly pick. 

How did the Biden Administration’s stance towards crypto change?

Before the 2024 election, the Biden Administration made friendly gestures towards cryptocurrency companies — possibly due to the threat of the crypto industry uniting behind Trump. 

For example, the SEC approved the Ethereum ETF — which some commentators saw as a politically-motivated move to win favor from the crypto industry before the election. 

According to reports, the Biden Administration also reached out to companies like Ripple and Coinbase to discuss cryptocurrency policy in the months preceding the election. 

How has Trump’s stance on crypto changed? 

Trump's current pro-crypto stance marks a significant shift from his first term. 

In 2019, then-President Trump was quoted saying, “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....” 

While it’s clear that Trump’s stance on crypto has changed, the former President has continued to voice the importance of dollar dominance. In a 2024 interview, Trump stated the following:

“I hate when countries go off the dollar. I would not allow countries to go off the dollar because when we lose that standard, that will be like losing a revolutionary war. That will be a hit to our country just like losing a war, and we can’t let that happen.” 

Was cryptocurrency a major issue in the 2024 election? 

It’s likely that cryptocurrency was a key issue in the 2024 US presidential election. A poll taken before the election found that 33% of voters would consider a candidate’s stance on crypto when casting their vote. 

It’s estimated that more than 50 million Americans own cryptocurrency, which means that cryptocurrency regulation is an important issue for many voters. In addition, crypto PACs have received more than $50 million of donations from companies like Ripple and Coinbase. 

Polling data suggests that many Republicans who were previously not planning to vote for Trump were pleased with his crypto-friendly policies. 

Conclusion

Donald Trump's pro-crypto stances have fueled market optimism and record-breaking Bitcoin prices. No matter how his Administration chooses to regulate the space, It’s clear that cryptocurrency has become a pivotal issue shaping the future of American politics and finance.