Trump Backtracks On Crypto, Says It’s ‘Probably’ a Great Industry
Key Takeaways
- Trump appears to be softening his rhetoric on crypto amid scrutiny.
- Despite recent comments, his company’s launch of Truth Predict shows a deepening embrace of blockchain.
- The president’s recent tariffs are facing a landmark legal challenge.
U.S. President Donald Trump has backtracked on his unwavering confidence in crypto, claiming it is “probably a great industry” during a wide-ranging interview with CBS’s 60 Minutes, as his signature tariff policy faces scrutiny from the Supreme Court this week.
The comments, made in response to questions about his pardon of Binance founder Changpeng “CZ” Zhao, have highlighted Trump’s new push to make crypto something more tied to his family’s interests than his own.
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“Probably” Great
The comments marked a shift from Trump’s earlier stance, which he pushed heavily on his campaign trail and beyond, pledging to make the U.S. “the crypto capital of the world” in July.
“My sons are into it,” Trump told anchor Norah O’Donnell.
“I’m glad they are, because it’s probably a great industry, crypto. I think it’s good. You know, they’re running a business, they’re not in government,” he added.
The remarks came as O’Donnell questioned him about his decision to pardon CZ.
Federal prosecutors at the time accused Zhao of enabling “significant harm to U.S. national security”.
“OK, are you ready? I don’t know who he is,” Trump said.
Adding: “I know he got a four-month sentence or something like that. And I heard it was a Biden witch hunt.”
The newly aloof tone contrasted with Trump’s previous portrayal as a champion of crypto-friendly deregulation.
His campaign accepted millions in digital-asset donations, and his surrogates have promoted “Trump Coins” and NFTs tied to his brand.
O’Donnell cited Binance’s 2025 role in facilitating a $2 billion purchase of World Liberty Financial’s stablecoin before Zhao’s pardon, but Trump dismissed any suggestion of pay-for-play.
“I know nothing about it because I’m too busy doing the other—” he said, cutting off the line of questioning.
World Liberty Financial has denied any involvement in the pardon.
Supreme Court’s Tariff Challenge
Trump also defended his sweeping tariff program as the Supreme Court prepares to hear arguments on whether he exceeded his authority by imposing them without congressional approval.
“I think our country will be immeasurably hurt,” Trump said of the possibility that the justices might strike down the tariffs.
“I think our economy will go to hell. Look, because of tariffs, we have the highest stock market we’ve ever had.”
He added: “I think it’s the most important subject discussed by the Supreme Court in 100 years.”
Lower courts have ruled against the president’s unilateral use of tariff powers, setting the stage for a high-stakes hearing that could reshape the bullish nature of Trump’s presidency so far.
Trump Enters Crypto Betting Market
Donald Trump’s cautious remarks around crypto come as his own media empire takes another bold leap into the sector, reportedly launching a blockchain-powered prediction market.
Trump Media & Technology Group is in reported plans to debut Truth Predict, an in-app betting and forecasting service on its Truth Social platform, which will allow users to wager on real-world events.
The company said testing would begin “in the near future,” with a U.S. rollout planned before expanding abroad.
The project marks Trump Media’s most significant foray into financial technology to date, positioning it to compete with platforms such as Polymarket and Kalshi.
Prediction markets, where users buy and sell contracts tied to future…
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