President Trump praised cryptocurrency during virtual remarks at the Digital Asset Summit in New York on Thursday, claiming the industry would “unleash an explosion of economic growth” and strengthen the U.S. dollar through dollar-backed stablecoins.
Trump highlighted his administration’s crypto initiatives, including a White House summit and an executive order establishing a bitcoin strategic reserve and digital asset stockpile. He criticized former President Biden for selling off digital assets seized during financial crime investigations, arguing his administration would retain and maximize their long-term value.
Trump also condemned what he called the prior administration’s “Operation Choke Point 2.0,” referring to accusations that Biden-era regulators pressured banks to sever ties with crypto-related entities. He called it “a form of lawful government weaponization,” declaring it ended with his return to office in January.
The remarks come as Trump’s tariffs have sparked stock market volatility and raised concerns about a potential recession.
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