The world of cryptocurrency can be intimidating, not just because of its complex technology, but also due to its unique subculture. However, a glimpse into the industry’s current state can be gained from the 2025 Bitcoin Conference held in Las Vegas. The event featured a diverse lineup of speakers, including meme-coin enthusiasts, cypherpunks, crypto podcasters, and Wall Street executives who jumped on the crypto bandwagon when Bitcoin hit $100,000.
Notably, several MAGA supporters, including Vice President J.D. Vance, Trump’s eldest sons, and White House crypto czar David Sacks, delivered speeches that centered around the theme that Trump and crypto are meant to be together. Don Jr. emphasized the connection between crypto and free speech, stating that they are “inextricably linked.” This narrative conveniently explains Trump’s sudden embrace of crypto, despite being previously skeptical.
The Trump family’s involvement in crypto extends beyond mere rhetoric. They have launched two meme coins and acquired a majority stake in a new crypto firm, World Liberty Financial. Trump’s White House has also implemented a pro-crypto agenda, rolling back regulations and dropping lawsuits against alleged crypto wrongdoing. The Department of Labor recently eased restrictions on investing 401(k) plans in crypto, potentially boosting Bitcoin’s price and benefiting Trump’s own enterprises.
Trump Media & Technology Group, the parent company of Truth Social, is also pivoting to crypto. The company announced plans to purchase $2.5 billion in Bitcoin, creating a corporate Bitcoin reserve. This move effectively ties the company’s stock price to Bitcoin’s performance, benefiting both the crypto industry and Trump’s own net worth.
The Trump administration’s pro-crypto stance predates his family’s business ventures. Trump’s campaign promise to fire SEC Chair Gary Gensler, a vocal crypto critic, attracted donations from industry heavyweights. The administration has dropped numerous lawsuits against crypto firms and investigations, with Vance declaring “Operation Choke Point 2.0 is dead” during the Bitcoin Conference.
The lines between pro-Trump and pro-crypto agendas have blurred, creating a narrative where what’s good for one is good for the other. While Trump talks about revitalizing American manufacturing, his sons are running a crypto-mining company, and Trump Media is promoting “Made in America” crypto investment funds. By clearing the way for major crypto investments, Trump has benefited both the industry and his own businesses.
Ironically, cryptocurrencies were meant to be a safeguard against state control. Bitcoin was created to facilitate private online transactions, aiming to establish a new financial order outside government purview. However, Trump’s pro-crypto policies, while manifesting the crypto dream of a new financial order, are doing so in a way that reflects the image of one man – Trump himself.
