President Donald Trump recently articulated a clear vision for the United States' role in the burgeoning cryptocurrency sector, emphasizing his commitment to ensuring American dominance in what he perceives as a high-stakes, winner-takes-all global competition. In a wide-ranging interview on 60 Minutes, Trump stated, “I only care about one thing: will we be number one in crypto,” underscoring the critical national importance of the industry, which he likened to artificial intelligence.

Trump highlighted the intensely competitive nature of the crypto space, asserting that it is an industry where only one nation can truly lead. “In crypto, it’s a kind of industry where basically you’re going to have number one and you’re not going to have a number two. And right now we’re number one by a long shot,” he remarked. He also drew attention to the significant crypto initiatives emerging from China, noting their aggressive entry into the market and stressing that U.S. leadership is vital to prevent other nations from gaining control. The former President credited his sons with a deeper engagement in the crypto industry, viewing their involvement as indicative of the sector’s growth and potential. He also suggested that his past campaigns, which openly supported cryptocurrency, were instrumental in securing the “crypto vote,” framing his advocacy as a continuation of his broader efforts to bolster American technological leadership.

The conversation around cryptocurrency also delved into President Trump’s recent pardon of Binance founder Changpeng Zhao, widely known as CZ, a move that generated considerable discussion. Zhao had previously pleaded guilty to charges, including allowing illicit transactions involving sanctioned entities and failing to implement proper anti-money-laundering controls at Binance. He subsequently stepped down as CEO and paid a personal fine of $50 million. On October 23, President Trump granted Zhao a full pardon, following months of lobbying by Zhao and his allies who contended that his prosecution was politically motivated. This decision also came amidst reports of Zhao’s efforts to explore partnerships with Trump family crypto ventures.

White House press secretary Karoline Leavitt characterized the pardon as an end to the “Biden Administration’s war on crypto,” suggesting a shift in U.S. policy towards the cryptocurrency industry. Trump defended his decision during the 60 Minutes interview, framing it as a corrective action against what he described as political bias from the Biden administration. “I know nothing about the guy, other than I hear he was a victim of weaponization by government… It’s a corrupt government,” Trump stated. He clarified that his motivation for the pardon was not personal connections or political gain, but rather a principled belief in protecting U.S. crypto leadership and rectifying perceived governmental overreach.