Trump Admits Politics, China Fear Drove Crypto Pivot

"I let my kids do whatever the hell they do. I don't talk to them, ever, about it," he said.

His pivot coincides with the industry's emergence as a major political donor. Crypto advocacy groups spent roughly $170 million during the 2024 election cycle, mostly backing Republican candidates. Spending is expected to rise for the coming midterm contests.

The president also claimed the Biden administration dropped crypto company investigations after his pro-crypto declaration. Under his administration, the Securities and Exchange Commission has suspended multiple probes and withdrawn enforcement actions against crypto firms, several of which contributed to his campaign.

"Every time I see a crypto guy where they dropped an investigation, I said: You're lucky I'm president," Trump remarked.

The financial disclosure revealed hundreds of millions in Bitcoin and Ethereum holdings tied to World Liberty Financial. Bipartisan congressional groups are working on legislation to create a federal crypto regulatory framework, including ethics provisions that would limit how officials and their families profit from digital currencies while in office.