White House hosts crypto advocate: JD Vance declares crypto now has a prominent supporter in the presidency during his Bitcoin conference address.
Vice President J.D. Vance put forth the Trump administration's support for the cryptocurrency industry on Wednesday at the Bitcoin 2025 Conference in Las Vegas. This sector, once considered a niche business, has recently found strong backing from President Trump and his allies.
Vance emphasized the administration's commitment to crypto, stating, "With President Trump, crypto finally has a champion and an ally in the White House." He addressed the conference, asserting that digital assets, particularly Bitcoin, have become integral components of the mainstream economy.
The Trump administration has devoted efforts towards easing regulations, fostering industry growth, and mainstream acceptance for cryptocurrency. Vance, a previous backer of cryptocurrencies, reportedly owned between $250,000 and $500,000 worth of Bitcoin, as per an August 2024 financial disclosure.
Highlighting the industry's transformative potential, Vance underscored that cryptocurrencies offer a hedge against poor policymaking, skyrocketing inflation, and discriminatory practices. Such sentiments resonated with the conference audience, many of whom expressed concerns about these issues.
To facilitate the regulation of stablecoins, Vance advocated for the passage of the GENIUS Act. This legislation would establish a regulatory framework for stablecoins, which are types of cryptocurrencies tied to assets such as the U.S. dollar.
Joining Vance at the conference were other Trump loyalists, including Donald Trump Jr. and Eric Trump, who have invested in crypto ventures, and David Sacks, the White House's crypto advisor. Mr. Trump, a once crypto-skeptic, has since expressed enthusiasm for the industry and pledged to reverse strict regulations enacted during the Biden era.
The Trump family's financial interests in crypto amount to $2.9 billion, as per a recent report. Matters concerning potential conflicts of interest have arisen, with some critics contending that Trump's crypto ventures could provide quick avenues for access to the president. Conversely, advocates argue that any motivation for personal gain may not be substantial.
The Bitcoin Conference, known as the world's largest gathering of bitcoiners, has attracted crypto-friendly lawmakers, with Vance becoming the highest-ranking sitting politician to address the event. The Las Vegas event is also hosting Donald Trump Jr. and Eric Trump, who will speak on a panel about new Bitcoin business models, as well as David Sacks, who spoke on Tuesday.
Eric and Donald Trump Jr.'s increasing focus on the crypto industry reflects their growing commitment to promoting Bitcoin and decentralized finance. Eric's involvement extends to his role as a board member of Metaplanet, Japan's largest corporate holder of Bitcoin. Trump Jr., too, has emphasized the role of Bitcoin in upholding civil liberties and economic freedom.
In total, the presence of these Trump supporters at the conference underscores the burgeoning connections between the Trump political network and the cryptocurrency industry, a relationship that simultaneously offers opportunities and raises ethical questions due to potential conflicts of interest.
- The Trump administration's support for the cryptocurrency industry was highlighted by Vice President J.D. Vance at the Bitcoin 2025 Conference in Las Vegas.
- Vance emphasized the administration's commitment to crypto, stating that President Trump and his allies have recently found strong backing for the sector.
- In addressing the conference, Vance pointed out that digital assets, particularly Bitcoin, have become integral components of the mainstream economy.
- To facilitate the regulation of stablecoins, Vance advocated for the passage of the GENIUS Act, which would establish a regulatory framework for stablecoins.
- The Trump family's financial interests in crypto amount to $2.9 billion, and concerns about potential conflicts of interest have arisen due to their involvement in the crypto industry.
