#Gate广场四月发帖挑战

The relationship between Trump and cryptocurrency (as a general term) is essentially a complete reversal from “skeptics” to the “biggest vested interest beneficiaries.” He is not only a policymaker, but also a top-tier player who uses crypto assets to raise funds, cash out, and consolidate power.

A 180-Degree Turn in Position

Early stance (2019-2021): He publicly criticized Bitcoin and cryptocurrency (as a general term) as an “air scam,” believing its value swings were severe and that it threatened the dollar’s status.

Campaign and presidency (2024 to present): His stance has undergone a dramatic reversal. He claims he wants to “end the war on cryptocurrency (as a general term),” make the US the “world’s crypto capital,” and accept cryptocurrency (as a general term) as campaign donations.

Policy side: Deregulation and strategic reserves

Starting in his second term (from 2025), the Trump administration rolled out a series of aggressive policies that reshaped the US crypto regulatory landscape:

Major deregulation: It revoked the accounting standard that restricted financial institutions from custodying crypto assets (SAB 121) and halted the Biden-era central bank digital currency (CBDC) plans, making room for private crypto assets.

Establishing a national reserve: Signed an executive order to create a “Strategic Bitcoin Reserve,” announced that the federal government would no longer sell about 200,000 Bitcoins it holds, and studied incorporating assets such as BTC and ETH into the national reserve.

Stablecoin legalization: Clarified that stablecoins fully backed by USD are not securities, paving the way for Wall Street to issue stablecoins.

Business side: Personal and family “money-printing machines”

Trump is the first US president to deeply tie his personal political brand with crypto finance. The scale of profits is astonishing:

NFTs and royalties: His issued “digital trading card” NFT series sold out quickly; the trading volume for a single series exceeded $26 million, bringing him nearly $10 million in licensing income.

Meme coin (TRUMP): The TRUMP token associated with him—large amounts of supply are controlled by related parties. Estimates suggest that, through trading-fee cut alone, his family could profit hundreds of millions of dollars, while many retail investors who follow the trend face risks of losses.

Wealth surge: According to estimates by Forbes, about $850 million of the increase in his net worth came directly from crypto-related gains, making him one of the wealthiest US presidents during his time in office.

Controversy: The gray zone between policy and interests

This deep linkage has triggered significant ethical controversy. Critics note that the pro-crypto policies his government has pushed (such as easing regulation and supporting specific projects), objectively caused the value of tokens controlled by his family and affiliated companies (such as World Liberty Financial) to skyrocket, raising suspicion that public power is being used to profit private assets.

Summary: Trump has transformed cryptocurrency (as a general term) from a mere financial tool into a multi-purpose weapon for political fundraising, personal wealth growth, and geopolitical financial competition. For him, supporting the crypto industry is not only a “political symbol” against the Democratic Party’s financial policies, but also a family business with extremely high returns.