Crypto Community Grapples with Trump’s $TRUMP Coin at Bitcoin 2025 Conference
The Bitcoin 2025 conference in Las Vegas became a stage for the Trump administration’s growing embrace of cryptocurrency. Vice President JD Vance delivered the keynote speech, while President Donald Trump’s sons, Eric and Donald Jr., participated in multiple panels. A delegation of White House advisers, including crypto czar David Sacks, praised cryptocurrency as the future of technology.
The crypto community, accustomed to skepticism from politicians, remains wary despite the Trump administration’s warm overtures. Trump’s loosening of government oversight and regulations on cryptocurrency has been welcomed, but his involvement in the $TRUMP coin has raised concerns.
The $TRUMP coin, classified as a meme coin, offers little technical innovation and is highly volatile. Many serious bitcoin investors view meme coins as a hazard to the long-term success of cryptocurrency. At the conference, some bitcoin holders predicted that novices would lose money on the $TRUMP coin, potentially harming the industry’s reputation.
Seth for Privacy, vice president of crypto wallet software company Cake Wallet, expressed concerns that novice investors could get “burned” by the $TRUMP coin. He suggested that meme coins like $TRUMP could serve as an “on-ramp” to more established cryptocurrencies like bitcoin.
The $TRUMP coin’s price has been volatile, surging to over $70 within two days of its announcement before plummeting after Trump’s inauguration. As of Friday, it was trading at around $11 with a total market capitalization of $2.2 billion. Two Trump-affiliated companies own 80% of the $TRUMP coin project and receive a fee for every trade, amounting to over $324 million since January.
The tension between the MAGA and crypto movements was evident at the conference. While many attendees appreciated Trump’s crypto policies, they were skeptical about his meme coin. Bitcoin investor Ryan Nichols, a Trump supporter, refused to invest in the $TRUMP coin, comparing it unfavorably to other meme coins.
The alliance between the crypto community and the Trump administration was on full display at the conference. Speakers praised Trump’s overhaul of the Securities and Exchange Commission and his pardon of Ross Ulbricht, creator of the dark web marketplace Silk Road. White House adviser David Sacks solicited ideas from the audience on how the administration could further support the crypto industry.
As the crypto community continues to navigate its relationship with the Trump administration, concerns about the $TRUMP coin highlight the challenges of their alliance. While some see Trump’s involvement as beneficial for the industry, others worry about the potential risks and implications of meme coins.
