Chicago Monday, May 19, 2025
Crypto Goes Mainstream Under Trump Administration
For years, cryptocurrency was seen as a niche or questionable investment, often associated with tech enthusiasts and criminal activity, from hackers to drug traffickers. While it gained notoriety for both massive gains and devastating losses (like the 2022 collapse of FTX that led to CEO Sam Bankman-Fried’s imprisonment), crypto is now experiencing a major transformation.
Under President Trump, a sweeping change is underway. From federal agencies to Congress and the Oval Office, the U.S. is not only accepting crypto, it’s actively supporting it. This is a major departure from the previous Biden administration’s stance. A clear example of this shift is Coinbase, one of the leading crypto platforms, joining the S&P 500, the benchmark index of top U.S. companies. Faryar Shirzad, Coinbase’s Chief Policy Officer, called the move “historic” and a sign that public interest and oversight of the industry are rapidly increasing.
Winners, Losers, and the Risks Ahead
President Trump may also profit from this shift. He launched his own meme coin just before taking office and his family has stakes in several crypto ventures. Supporters of digital currencies believe the U.S. is finally stepping up as a global leader in a sector they say could shape the future of finance.
However, not everyone shares this optimism. Critics argue that embracing such a volatile market could backfire, warning of risks to everyday investors and the potential for another financial meltdown similar to 2008. Dennis Kelleher, a leading crypto skeptic from Better Markets, cautions that this path may ultimately lead to disaster, particularly for average Americans who could bear the brunt of any future crash.
