UPDATED: January 23, 2025, 11:56AM EST
U.S. President Donald Trump has reiterated his “America-first” stance relating to cryptocurrency.
Talking through livestream on the World Financial Discussion board in Davos, Switzerland, Trump touted his administration’s early initiatives and mentioned the U.S. will turn out to be “the world capital” of crypto.
“America has the biggest quantity of oil and fuel of any nation on Earth, and we’ll use it,” Trump mentioned Thursday morning. “Not solely will this cut back the price of just about all items and companies, it’ll make the USA a producing superpower and the world capital of synthetic intelligence and crypto.”
Final August, Trump mentioned in a submit on X he would assist “be sure that the USA would be the crypto capital of the planet” whereas teasing his soon-to-come crypto mission. That mission would finally turn out to be World Liberty Monetary, a DeFi protocol that counts Trump as its “chief crypto advocate.”
Simply three days earlier than Trump was inaugurated because the forty seventh president of the U.S., he launched Official Trump, a memecoin that at present has an $8 billion market cap in response to The Block’s TRUMP value information. Thus far, his solely public point out of the TRUMP token got here throughout a White Home briefing with AI leaders.
“I do not know a lot about it apart from I launched it,” Trump mentioned. “I heard it was very profitable. I have never checked.”
Earlier Thursday, the worth of bitcoin briefly popped to $106,000 after Sen. Cynthia Lummis teased an upcoming announcement, though that information ended up being one thing already identified — the U.S. Senate Banking Committee voted to have crypto-friendly Lummis lead its newly created digital asset subcommittee.
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About Creator
Jason is a U.S. information editor at The Block. He beforehand labored as a employees author and later served as managing editor at Benzinga, a monetary information and information firm. He led Benzinga’s each day markets protection in addition to the growth of the outlet’s hashish, cryptocurrency and sports activities betting verticals. He earned a bachelor’s diploma in journalism from Central Michigan College and resides within the suburbs of Detroit, Michigan. Comply with him on X @JasonShubnell.
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