On July 2 local time, U.S. President Trump gave an exclusive interview to CNBC:
CNBC's renowned host Joe Kernen: "You've made a huge fortune from cryptocurrency. What's your connection to this?"
Trump: "My view on cryptocurrency is a bit different. We must stay ahead; otherwise, China will take over it. Take artificial intelligence, for example..."
Facing the sharp question about having made a substantial profit from cryptocurrency, Trump did not directly deny his gains. Instead, he distanced himself from direct involvement in business decisions by emphasizing that "the assets were managed by institutions" and that "he was unaware of the details." He explained his massive wealth as simply a result of "the overall market rise, where everyone is profiting." This rhetoric aims to downplay external skepticism regarding accusations that he "profited using presidential authority," reframing his personal wealth surge as a natural outcome of America’s economic prosperity.
In his response, Trump deliberately linked the development of cryptocurrency to Sino-U.S. strategic competition—“We must lead, or China will take over”—and positioned it alongside cutting-edge technologies like artificial intelligence. This is a narrative strategy: he successfully transformed what was originally a controversial issue—personal and family financial interests in crypto—into a grand national imperative about safeguarding U.S. national security and global technological supremacy. By advocating for "making America the capital of cryptocurrency," he has given his pro-crypto policies an undeniable political legitimacy.
Although Trump skillfully deflected the journalist’s pointed questioning, financial disclosures reveal that during his first year back in the White House, he earned an astonishing $1.2 billion or more—solely through his family's crypto company, World Liberty Financial, and the meme coin $TRUMP. The objective reality—that "the president promotes policies favorable to crypto, and his family profits from it"—renders the White House’s claim of "no conflict of interest" hollow and further intensifies market concerns about his business ethics. This has drawn sharp criticism and intense scrutiny from senior Democrats and even some Republican lawmakers. As the midterm elections approach, this issue is gaining momentum, forcing Trump to clear his name.
In summary, Trump’s interview response is a textbook case of political public relations. By raising the banner of "great power competition," he attempts to obscure and justify his personal and family’s enormous commercial interests in the crypto sector. Yet, against the backdrop of verifiable, massive financial data, such deep entanglement between state power and private capital is triggering an unprecedented crisis of trust and moral controversy within the United States.
Original source: toutiao.com/article/1869662966276096/
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