Key takeout
President Trump said crypto assets can withstand market crashes more than other assets. Trump tokens surged over 70% after announcing exclusive dietary incentives for top holders.
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Trump strengthened his procrypted attitude by stating that crypto assets are resilient during the market slump and are now widely accepted. The president says the US must either lead digital asset innovation or risk falling behind a country like China.
“I want Crypto,” Trump said in an interview with NBC News this week’s Meet the Press. The president was asked how he would respond to people expressing concerns about the possibility of profiting from the presidency.
“I think Crypto is important because if we don’t do that, China is going to go,” he said. “It’s new. It’s very popular. It’s very hot.” He added that during the market slump, the crypto “stayed much stronger than the rest of the market.”
Trump noted that codes are too important to ignore and refers to the size of adoption as the driving force behind his pro-cryptic stance. He also accused the Biden administration of cracking down on codes first, but later eased its stance for political interest.
Pushing whether he would stand to benefit from the official Trump token (Trump), the president said he “doesn’t benefit from anything,” emphasizing that code support began well before the presidential campaign.
“I haven’t even seen it,” Trump said, “If you own inventory on something and do a good job, I think when the stock market goes up, I’m profiting.”
Trump said he has donated the entire president’s salary to the government. When asked if he would like to donate crypto-related proceeds, he replied that he had never considered it.
“I’m doing a good job as president, so if that’s gone up a little, should I contribute all of my real estate I’ve owned for years? I don’t think so,” he said.
The president added that he plans to continue to contribute his salary during his current term.
Trump Token, which once reached a market capitalization of nearly $15 billion, has experienced a sharp decline since President Trump took office. At the time of pressing, the market capitalization was about $2 billion per CoinMarketCap.
Tokens have skyrocketed over 70% last week after news broke that President Trump was holding an exclusive dinner for Top Trump token owners. The event, scheduled for May 22nd at Trump National Golf Club, will be limited to the top 220 wallet holders.
The announcement sparked bipartisan concerns.
Senators Elizabeth Warren and Adam Schiff are calling for ethical investigations, citing the risks of personal enrichment from the sale of Presidential Access.
Even some of Trump’s allies have expressed concern. Senator Cynthia Ramis, a Trump voice supporter and a well-known Bitcoin advocate, expressed her discomfort.
“This is my president we’re talking about, and I’m happy to say this gives me a pause,” Ramis said.
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