President Donald Trump has sidestepped a direct response to a reporter's question regarding the potential divestment of his family's cryptocurrency ventures. The question was posed during a recent White House press briefing, where the reporter inquired whether Trump would consider divesting from these ventures to facilitate the passage of key cryptocurrency legislation in Congress.
Trump's response did not directly address the divestment issue. Instead, he emphasized his support for the crypto industry, stating, "I became a fan of crypto, and to me, it's an industry. I view it as an industry and I am president. And if we did not have it, China would, or somebody else would, but most likely China would love to, and we have dominated that industry. We have created a very powerful industry, and that is much more important than anything that we invest in". He framed the presence of a strong cryptocurrency industry in the United States as a matter of national interest, suggesting that its importance outweighs any potential conflicts of interest arising from his family's investments.
The question of divestment arose amid growing concerns among lawmakers regarding Trump's ties to the crypto industry and the potential for conflicts of interest. These concerns have the potential to impede the progress of comprehensive cryptocurrency regulations, a policy objective that has garnered increasing bipartisan support since 2024. Some Democrats have expressed reluctance to support crypto bills in Congress due to Trump's and his family's involvement in the crypto space.
In light of these concerns, some Democratic lawmakers are taking steps to address the potential conflicts of interest. California Senator Adam Schiff introduced the Curbing Officials' Income and Nondisclosure (COIN) Act on Monday. This bill aims to prevent the president, their family, and executive branch officials from endorsing or issuing any digital asset. Schiff stated that the bill seeks to stop individuals like Donald Trump and other senior administration officials from profiting from crypto schemes.
This isn't the first time Trump's relationship with cryptocurrency has come under scrutiny. Back in March 2025, Trump's Crypto and AI advisor, David Sacks, addressed media reports that he "dumped" his crypto holdings. Sacks clarified that he divested his holdings to comply with government ethics rules following his appointment by President Trump. According to a White House memo, Sacks liquidated over $200 million in digital assets before Trump took office. His firm, Craft Ventures, also exited positions in crypto-related stocks, including Coinbase, Robinhood, and the Bitwise 10 Crypto Index Fund.
Prior to his current stance, Trump's views on cryptocurrency have evolved. In September 2024, he announced a new crypto platform called World Liberty Financial, controlled by his sons. During the announcement, he expressed his desire for the United States to become the crypto capital of the world, warning that China would fill the void if the U.S. didn't embrace digital currency. It was also mentioned that his son Barron, is knowledgeable about crypto. This marked a shift from his earlier stance when he once called cryptocurrency "a scam".
