The realm of cryptocurrency can often seem daunting. The underlying technology is intricate, and the subculture surrounding it—complete with its own jargon and social norms—can further complicate understanding. However, a glimpse into the current crypto landscape can be gleaned from the recent 2025 Bitcoin Conference, which took place last month in Las Vegas. The event featured a diverse array of speakers, from enthusiastic meme-coin advocates to dedicated cypherpunks and crypto podcasters with quirky names like “Gwart.” Notably, a contingent of Wall Street executives appeared to have entered the crypto conversation only after Bitcoin reached the $100,000 milestone.
### Trump’s Crypto Connection
A significant presence at the conference included supporters of former President Trump. Prominent figures such as Vice President J.D. Vance, Donald Trump Jr., and White House crypto advisor David Sacks delivered speeches that revolved around a shared narrative: the synergy between Trump and cryptocurrency. During a discussion with the CEO of Rumble, a platform popular with conservative audiences, Donald Trump Jr. remarked, “What’s happening here in this very room, at this very conference, represents the financial aspect of the free-speech values we champion.” This statement underscores the idea that Trump is deeply invested in the civil-liberties principles that the Bitcoin community has long advocated.
Rather than simply a narrative of self-interest, this relationship illustrates how Trump’s previously skeptical stance towards Bitcoin has evolved. In the past year, members of the Trump family have launched two meme coins and have acquired a controlling interest in a new cryptocurrency venture, World Liberty Financial. As previously noted, cryptocurrency is swiftly becoming a focal point for the Trump family, as evidenced by a recent private dinner hosted by the former president for major investors in his $TRUMP coin at his golf club near Washington, D.C.
### Policy Changes Favoring Crypto
The ties between Trump and the cryptocurrency sector extend beyond mere business interests. His administration has actively promoted a pro-crypto agenda, which includes rolling back regulations and abandoning lawsuits aimed at punishing perceived misconduct in the crypto space. Coinciding with Donald Trump Jr.’s address at the Bitcoin Conference, the Department of Labor relaxed Biden-era guidelines that restricted American investments in cryptocurrency through 401(k) plans due to concerns over volatility and security risks. By removing these protective measures, regulators are encouraging further investment in cryptocurrencies, which could drive up the value of Bitcoin and other digital currencies—a potential windfall for Trump’s own business ventures. Ultimately, Trump’s interest in cryptocurrency is as much about shaping public policy as it is about personal profit.
### Trump Media Ventures Into Bitcoin
Cryptocurrency has emerged as a central theme uniting various initiatives of the Trump administration. A prime example is the Trump Media & Technology Group, which is primarily recognized for its social media platform, Truth Social. Initially not focused on cryptocurrency, the company has shifted its strategy to incorporate it. Recently, Trump Media announced plans to raise funds to acquire $2.5 billion in Bitcoin, effectively establishing a corporate reserve of the digital currency. Devin Nunes, CEO of Trump Media and a former Republican congressman, stated, “We perceive Bitcoin as the pinnacle instrument of financial freedom.” While this might sound idealistic, the establishment of a Bitcoin reserve primarily serves to link the value of Trump Media’s stock, $DJT, to the overall performance of Bitcoin. While such a significant investment is undoubtedly beneficial for the crypto market, it also aligns with the Trump family’s financial interests, as a considerable portion of the former president’s wealth is now connected to crypto assets.
### Strategic Bitcoin Reserve Proposal
The concept of a Bitcoin reserve may ring a bell, as it closely resembles the Biden administration’s earlier announcement of a “Strategic Bitcoin Reserve” aimed at positioning the U.S. as a frontrunner in the global cryptocurrency arena. Both initiatives serve a similar purpose: large-scale institutional investments—whether from the government or private companies—help to legitimize cryptocurrencies, ensuring their long-term status as an asset class. Trump’s approach to promoting cryptocurrency and boosting the value of these digital currencies operates on two fronts: as the White House advances its agenda, the Trump family’s business interests can support and benefit from it.
### Trump’s Campaign for Crypto Support
Long before venturing into cryptocurrency business, Trump was advocating for policies favorable to the sector. His campaign pledge to remove Gary Gensler, the Securities and Exchange Commission Chair, who had been scrutinizing the industry, garnered significant support and donations from crypto heavyweights. Following the collapse of Sam Bankman-Fried’s empire, Gensler intensified enforcement actions against individual crypto firms, a move that has been mockingly termed “Operation Choke Point 2.0,” in reference to an Obama-era initiative that pressured banks to sever ties with certain types of businesses. During his keynote at the Bitcoin Conference, Vance boldly declared that “Operation Choke Point 2.0 is finished, and it’s not returning under a Trump administration.”
The current administration has dismissed numerous lawsuits and investigations targeting crypto companies. As Trump’s second term progresses, the lines between pro-Trump and pro-crypto policies have become increasingly blurred. In the MAGA framework, cryptocurrency, Trump, and American interests are intertwined—what benefits one is perceived to benefit all. While Trump discusses revitalizing American manufacturing jobs, his sons are leading a crypto-mining firm named American Bitcoin, and Trump Media is supporting “Made in America” crypto investment initiatives. By removing many top regulators responsible for overseeing the crypto space, Trump has paved the way for substantial financial inflows into the industry, including his own enterprises. The rationale behind regulatory rollbacks and Trump’s personal crypto investments is framed as a benefit to the nation.
### The Irony of Crypto’s State Connection
Ironically, cryptocurrencies were originally conceived as a safeguard against such entanglements with government authority. Bitcoin was created to facilitate private online transactions, with the ambitious vision of establishing a new financial order independent of governmental oversight. At its core, the technology underpinning cryptocurrencies is founded on the principle of decentralization. Yet, in relaxing regulations that favor both the industry and his personal interests, Trump is realizing the original crypto vision of creating an alternative financial system. However, rather than remaining anonymous and decentralized, the very notion of cryptocurrency is increasingly reflecting the persona of a single individual.
