Trump praises crypto ‘pioneers’, reaffirms need for supportive laws

At DAS, the US president noted he’s called upon Congress to enact “simple, common-sense rules” for stablecoins and market structure

article-image

Jimwatson/Shutterstock modified by Blockworks

share

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.


I enjoyed taking the Digital Asset Summit stage with Algorand Foundation CEO Staci Warden a few hours ago.  

Our opening act? The president of the United States

There wasn’t exactly market-moving crypto news out of Donald Trump’s mouth (i.e. another executive order) — though he did utter the word “Blockworks” upon kicking off his three-minute virtual address. 

Loading Tweet..

Warden and I watched Trump on a screen backstage. Strategy executive chairman Michael Saylor — the speaker to follow us — was close by, getting mic’d up. It was an interesting moment.

The president doubled down on some of what we heard on the campaign trail and during his first couple months in office. 

Trump vowed the US would “dominate crypto and the next generation of financial technologies.” He labeled the so-called Operation Chokepoint 2.0 as “a form of lawfare through government weaponization” that “went beyond regulation.”

To that point, Warden told me: “Frankly, we don’t even need directive support. We just need to not be hampered. 

“We have the deepest, most liquid financial markets in the world,” she added. “If we could just have a level playing field, we can definitely compete globally.”

Trump reaffirmed in his pre-recorded remarks that he’s called upon Congress to pass legislation creating “simple, common-sense rules” for stablecoins and market structure. Casey wrote yesterday that Trump has told lawmakers he wants a bill on his desk by summer’s end.

Dollar-backed stablecoins will help expand dominance of the US dollar, the president added.

Trump flattered the DAS crowd, noting, “Pioneers like you will be able to improve our banking and payment system.” Warden also spoke about these applications and broader blockchain adoption.

The Trump appearance offered a bit of a jolt to the conference for some — and it’s safe to assume legislation is coming. The questions, of course, are how quickly, what the final versions will look like, and how exactly the legislation will spur the next generation of financial markets.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

🚀 Build What’s Next — Permissionless IV Hackathon Join us June 22–23 in Brooklyn for the Permissionless IV Hackathon — a 36-hour sprint hosted by Cracked Labs and Blockworks where top builders turn ideas into real products. Come to launch, not just […]

recent research

Research Report Templates (10).png

Research

Kamino has evolved into a full-stack asset scaling suite with V2: unlocking new markets, improving capital efficiency, and catering to various risk profiles. We believe it is best positioned to become the credit backbone of Solana as the ecosystem matures. Simply put, KMNO remains our highest-conviction bet in the Solana ecosystem. This report lays out our thesis.

article-image

Bybit’s Byreal, Binance Alpha and Coinbase’s DEX integrations

article-image

This isn’t the worst hack to ever hit Mt. Gox, but it could be the most entertaining

article-image

Crossover’s CEO discusses institutional interest and how over-the-counter (OTC) trading has picked up in crypto

article-image

Sponsored

This collaboration signifies a major leap forward in expanding the reach and utility of Web3 gaming within the vibrant Asian market

article-image

Asymmetric information is threatening crypto the same way it once threatened equities. Disclosure might be the fix.

article-image

Rate cuts drift into Q4 limbo as markets pretend everything’s fine