During a virtual address at the World Economic Forum, President Donald Trump made a bold promise. He said he wants to turn the United States into the “world capital of artificial intelligence and crypto.” This speech was one of his first public appearances since taking office.
Speaking from Washington, DC, on January 23, Trump highlighted how US energy production from oil and gas could help lower the cost of nearly all goods and services. He believes this could make the US a “manufacturing superpower.” However, he didn’t go into detail about how he plans to achieve this.
His comments echoed what he said to the crypto industry during his presidential campaign. At the Bitcoin 2024 conference in July 2024, he declared his intention to make the US “the crypto capital of the planet and the Bitcoin superpower of the world.”
Since his inauguration on January 20, there has been some skepticism within the crypto community. Many are questioning whether he will keep his promises. Notably, his inauguration speech didn’t mention digital assets or blockchain technology. Plus, his administration’s list of priorities didn’t include crypto, and as of now, no executive orders impacting the industry have been issued.
On a positive note, Trump did follow through on his promise to pardon Ross Ulbricht, the founder of Silk Road. Ulbricht was released after spending over 11 years in prison. However, a report from the New York Times suggested that Trump’s decision might have been aimed at winning over libertarian voters after meeting with the Libertarian Party chair in 2023.
Additionally, Trump has a personal stake in the crypto world. He launched the Official Trump (TRUMP) token on January 17. This memecoin has stirred controversy. Many US lawmakers and crypto enthusiasts claim it’s a cash grab, allowing Trump to profit from his presidency and potentially inviting influence from foreign entities.