US President Donald Trump has once again made headlines with his latest statement regarding the cryptocurrency sector. In an interview with CBS correspondent Norah O'Donnell on the program "60 Minutes," Trump emphasized the need for America to maintain its leadership in the crypto industry, saying, "China is entering Bitcoin and crypto in a very big way right now. If we don't lead the way, China or another country will dominate this space."
According to Trump, the crypto industry, like artificial intelligence, is central to national competitiveness. Therefore, he argues that the US "must remain at the forefront" in this field, which is shaping the future of global finance. "I want to keep America number one," Trump said, emphasizing that the crypto economy is a strategic area not only for investors but also for the country's technological superiority.
CZ defends pardon: "Biden was a witch hunt"
During the interview, Trump was also asked about the pardon decision for Binance co-founder Changpeng Zhao (CZ). Zhao, who was convicted of violating money laundering laws in 2023, was described by the US administration at the time as "a case that harms national security." However, Trump defended the decision, saying, "CZ was the victim of the Biden administration's political witch hunt."
Trump described Zhao as a "respected and successful businessman." He said he didn't know him personally but believed he was unfairly targeted. "Just like me, he was subjected to malicious attacks from the Biden team," Trump said, adding that the pardon was a fitting decision. He also added that his sons are more interested in crypto than he is, but that he, too, believes digital assets are a "legitimate and valuable part" of the US economy.
China's crypto push and the US's race
Trump's warning that "China is entering crypto in a big way right now" also aligns with Beijing's increasing investments in blockchain technologies. While centralized crypto trading is banned in China, it is expanding its global influence through regulated exchanges operating through Hong Kong. It is also strengthening blockchain infrastructure through state-backed projects.
According to Trump, a slowdown in the US could jeopardize the country's technological superiority. He argued that crypto innovation accelerated under the previous administration, saying, "When I was president, America was number one in crypto."
Trump concluded his remarks with the words, "We are number one, and that's all I care about." He emphasized the need to maintain leadership in both crypto and artificial intelligence. "China, or any other country, should take that away from us," Trump said, reiterating his view of the digital economy as a national strategy.
China's rising influence appears to determine how Washington responds to this competition. Trump's message is clear: The crypto industry is not just an investment vehicle; it's a matter of national power. And in this race, he believes America must maintain its leadership position.
