Photo: Alamy
President Donald Trump predicted during a Thursday speech that the U.S. will become the “crypto capital” of the world.
The president shared the remarks in a video speech to the Blockworks’ Digital Asset Summit in New York City.
“It’s an honor to speak with you about how the United States is going to dominate crypto and the next generation of financial technologies,” Trump said. “It’s not going to be easy, but we’re way ahead.”
Trump’s comments also highlighted his executive order to create a bitcoin reserve.
“We’re ending the last administration’s regulatory war on crypto and bitcoin and that includes stopping the lawless Operation Choke Point 2.0,” Trump said of the Barack Obama and Joe Biden administrations’ alleged broad effort to debank cryptocurrency companies, Newsmax reported.
“Operation Choke Point went beyond regulation, and I mean far beyond. It was a form of lawfare through government weaponization. Frankly, it was a disgrace. But as of Jan. 20, 2025, all of that is over.”
In December, Trump became the first president to announce a White House leader for artificial intelligence (AI) and cryptocurrency, naming David Sacks to the role.
Trump shared the announcement in two posts to his Truth Social account that outlined the background of the new tech leader.
“I am pleased to announce that David O. Sacks will be the “White House A.I. & Crypto Czar.” In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” Trump began.
“David will focus on making America the clear global leader in both areas. He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship,” he continued.
Trump’s statement also emphasized plans to develop legal policies related to cryptocurrencies.
“He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S. David will also lead the Presidential Council of Advisors for Science and Technology,” Trump wrote.
Trump also highlighted Sacks’ background, including his role in the early leadership of PayPal.
“David Sacks has been an extremely successful entrepreneur and investor for 25 years, building and investing in some of the most iconic companies in Silicon Valley. He was PayPal’s founding-era COO, part of the legendary ‘PayPal Mafia.’ David then founded enterprise software company, Yammer, which was acquired by Microsoft for $1.2 Billion Dollars. Subsequently he founded Craft Ventures, a venture capital firm based in San Francisco. David is co-host of the All-In Podcast, the top podcast in Tech, where he and his friends discuss economic, political and social issues,” he noted.
