President Donald Trump vowed on Truth Social he would "never let crypto down," the clearest sign yet the White House will keep digital assets at the center of its agenda.
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Trump vows to never let crypto down as stablecoin venture nears $150M
President Donald Trump said he would "never let crypto down" in a Truth Social post on Friday, the latest sign the White House intends to maintain its pro-digital-asset stance as landmark legislation nears a Senate vote.
"I will never let crypto down," Trump wrote on Truth Social, according to a post reviewed by Edgen. The president specifically mentioned financial derivatives tied to the crypto sector, though he did not elaborate on policy details.
The statement comes as the Clarity Act, the crypto industry's top legislative priority, approaches a floor vote in the Senate. The bill would establish the Commodity Futures Trading Commission as the primary regulator for digital assets, a shift the industry has sought for years. Trump's family crypto venture, World Liberty Financial Inc., is on track to generate nearly $150 million this year from issuing USD1, a dollar-pegged stablecoin it launched in March 2025, according to a Bloomberg News analysis of public disclosures and financial filings.
Trump's explicit endorsement removes a layer of political uncertainty for crypto markets, which have rallied this year on expectations of favorable regulation. The Clarity Act's passage would represent the most significant federal crypto legislation to date, potentially reshaping how digital assets are traded, custodied and regulated in the US.
The president's comments also touched on financial derivatives, a market that has drawn scrutiny from regulators. The US has recently paved the way for onshore crypto-linked perpetual futures, a product that combines features of futures contracts with perpetual settlement.
Trump's personal financial stake in the sector has grown alongside his policy support. World Liberty Financial, co-founded by Trump and his sons, has benefited from a promotional arrangement with Binance Holdings Ltd., Bloomberg reported. The venture's USD1 stablecoin has become a significant revenue driver, with the company on track for roughly $150 million in annual income from the token.
Jamie Dimon pushes back
The Clarity Act has drawn opposition from an unexpected corner: traditional banking. JPMorgan Chase Chief Executive Officer Jamie Dimon recently called Coinbase CEO Brian Armstrong "full of sh*t" in a Fox Business interview, arguing that provisions in the bill would let crypto companies offer interest-like rewards on stablecoins without the consumer protections banks must follow.
"At the end of the day, we all share the same goal: improving the financial lives of Americans," Coinbase Chief Policy Officer Faryar Shirzad said in a statement.
What's at stake
The Clarity Act cleared the House last year and is expected to receive a Senate floor vote in the coming weeks. If passed, it would mark a decisive shift in US crypto policy, moving oversight from the Securities and Exchange Commission to the CFTC — a framework the industry has long argued is better suited to digital assets.
Critics, including Senator Elizabeth Warren and consumer advocacy groups, have warned the bill weakens investor protections and increases systemic risk by weaving crypto more deeply into traditional finance.
This article is for informational purposes only and does not constitute investment advice.
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