Trump has not shied away from expressing a pro-crypto sentiment during his most recent campaign trail. Trump’s stance on crypto is in stark contrast to his earlier criticism, in which he famously labeled cryptocurrencies a “scam” in a 2021 interview.

However, during this election cycle, Trump said he would embrace crypto in his next presidential term. “Crypto is moving out of the U.S. because of hostility toward it. I don’t want that. If we are going to embrace it, we will have to let them be here,” he said in a recent rally.

Trump’s strategy to court the cryptocurrency community has been evident in recent months. In July, he delivered a keynote address at Bitcoin2024 in Nashville, where he expressed strong support for the Bitcoin Bitcoin
BTC -0.38% Bitcoin mining industry despite concerns about its environmental impact.