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In a recent X space hosted by Farokh, co-founder of RugRadio, on September 17, Donald Trump shared his candid thoughts on the state of cryptocurrency in America. He stressed the importance of the U.S. leading crypto innovation to avoid falling behind other nations. He once again said if America does not lead the crypto ecosystem, China will take over. Here’s a look at his key points and why he believes America must become a leader in the crypto space. Hostile Regulatory Environment Trump didn’t mince words about the current administration’s approach to crypto. He slammed the SEC for its hostile stance towards crypto. Trump believes other countries are eager to lead in crypto, but the U.S. still has a shot if it acts quickly enough. He claimed his administration would have been more supportive of the industry. Personal Insights from His Kids What’s surprising is how Trump’s views on crypto have been influenced by his own children. He mentioned that his youngest son, Barron, and his other kids are quite knowledgeable about cryptocurrencies. Barron, for instance, owns several crypto wallets, and Trump humorously recounted trying to understand the concept: “He’s got 4 wallets or something, and I’m saying, what is a wallet?” This family connection, coupled with his experiences seeing crypto used in transactions, has made Trump realize the growing significance of digital currencies. NFTs Revelation by Trump Trump also talked about his experience with NFTs, an area he initially approached with skepticism. His first NFT collection, which included 45,000 pieces, sold out faster than expected. “If they had been paying in dollars, I would have said, you know, that’s standard. I was blown away,” he said. This success, along with the fact that many payments were made with crypto, changed his view on the potential of digital assets. The…

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Filed under: News - @ September 17, 2024 5:26 am