Key Takeaways Trump called himself “crypto guy” and said the US must lead the industry over China. He accused the Biden administration of a “weaponization of government” against crypto. He pr
Speaking after ringing the opening bell at the New York Stock Exchange and Nasdaq, Trump described himself as “pro-crypto” and argued the country must lead the industry rather than let rivals take it. His comments doubled down on a pro-crypto stance that has defined his second term, even as blockchain data shows his own branded tokens have left most of their buyers deep in the red.
🔥TRUMP: “I’M VERY MUCH PRO-CRYPTO”
President Trump says crypto is a “massive industry” with a “tremendous audience.”
He said the industry survived an “onslaught” and claimed the U.S. is now leading China and the rest of the world in crypto. pic.twitter.com/f3RGBqZG5a
— Coin Bureau (@coinbureau) July 6, 2026
Trump’s central argument was competitive: that crypto is too big and too strategic for the US to ignore. “If we didn’t do it, China would do it. It’s a massive industry,” he said, casting American leadership in digital assets as a way to stay ahead of a geopolitical rival rather than a matter of ideology. He added that crypto has “a tremendous audience” and should be embraced as a strategic sector, tying his support to economic scale and reach rather than to the technology itself.
It’s a framing he has leaned on before, positioning crypto alongside other industries where he argues the US cannot afford to fall behind. Whatever one makes of the claim, it reflects a view of digital assets as a national-competitiveness issue, not a niche financial product.
Trump reserved his sharpest language for the previous administration’s approach. He claimed the Biden administration tried to dismantle the industry through aggressive enforcement, describing the effort in stark terms. “What they were doing to crypto was horrible. It’s amazing it survived that onslaught,” he said, calling it “a weaponization of government.”
He alleged that crypto entrepreneurs were targeted with investigations and legal action, and that regulators were “trying to destroy the industry.” According to Trump, the previous administration later reversed course after recognizing crypto’s growing political influence, dropping investigations and adopting a friendlier posture because, in his words, “crypto has a tremendous audience.” These are Trump’s characterizations of his predecessor’s record; the prior administration and its regulators defended their enforcement actions at the time as investor-protection measures rather than an attempt to destroy the sector.
Trump contrasted that account with his own administration’s approach, singling out the current head of the Securities and Exchange Commission for praise. He called SEC Chairman Paul Atkins “the best man for the job,” while criticizing the previous SEC leadership for how it handled the industry, a clear reference to the more enforcement-heavy stance under former chair Gary Gensler.
He closed by insisting his support for crypto is driven by what he sees as its importance to the US economy and global competitiveness rather than personal interests, an assertion that sits against a backdrop of his family’s extensive and lucrative crypto ventures.
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Russia’s Sberbank Plans a Crypto Wallet Launch by DecemberThat backdrop is where the speech meets a more complicated reality. While Trump frames his crypto advocacy as being about the national interest, blockchain data shows his own branded tokens have been costly for the people who bought them. According to analytics firm Nansen, in data shared with CoinDesk, holders of the TRUMP memecoin are down a combined $3.81 billion.
The losses fall on 988,905 of the roughly 1.48 million wallets that have bought the token since its January 2025 launch, about two-thirds of all buyers. The gains that do exist are heavily concentrated: 492,285 wallets are in profit to the tune of $4.04 billion, overwhelmingly early buyers who got in during the first hours of trading, when the token changed hands under $1 before spiking toward a near-$75 peak. Across all wallets, gains and losses net out to roughly $236 million, while the token now trades around 96-97% below that high. The related WLFI token, tied to the Trump-family-backed World Liberty Financial, tells a similar story, with the large majority of tracked secondary-market wallets underwater.
The chart underlines how one-directional the decline has been. TRUMP trades near $1.68 as of July 6, 2026, down roughly 80% from $8.63 exactly a year ago.
Daily chart of TRUMP/USD showing a year-long bearish trend and percentage decline / Source: TradingViewPrice has sat below its 50-, 100-, and 200-day moving averages for the entire twelve-month window, with each rally rejected at progressively lower levels. It’s a pattern characteristic of memecoins that generate concentrated early revenue for the issuer while later holders absorb the drawdown, which is exactly why the ethics debate around presidential token issuance has centered on the mechanism, royalties extracted at issuance, rather than on the token’s price.
Trump’s speech makes a coherent national-competitiveness case for US crypto leadership, that the industry is massive, strategically important, and better led by America than ceded to China, and that argument stands on its own terms regardless of who makes it. At the same time, the president is not a neutral advocate: his family’s ventures have generated substantial income from the same sector he champions, and the retail buyers who followed his branding into his tokens have, on the whole, lost heavily while early insiders profited.
Both things are true at once. The policy argument for embracing crypto as a strategic industry is one many in the sector share, and the shift away from enforcement-first regulation has been broadly welcomed across the market. But the specific tokens carrying Trump’s name have been a poor deal for most who bought them, which is the necessary context for a speech in which the president insists his advocacy has nothing to do with personal interest.
This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.The post Trump Calls Himself “Pro-Crypto” as Buyers of His Token Lose Big appeared first on Coindoo.
