Trump's Crypto Engagement is Making it Hard for Pro-Crypto Republicans

The Breakdown

Nathaniel Whittemore

Investing, Business

4.8 • 786 Ratings

🗓️ 2 April 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

It was supposed to be an effortless gloryland, where all our hopes and dreams for crypto would come true. But many in Washington D.C. are finding the Trump's support for crypto -- and very, very direct engagement in it -- creating a new set of problems even as it solves the old ones. Sponsored by: Ledger Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.5	What's going on, guys? It is Tuesday, April 1st, and today we are talking about the trouble
0:23.7	with Trump's pro-cryptostance. Before we get into that, however, if you are enjoying the breakdown,
0:28.4	please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into
0:32.3	the conversation, come join us on the Breakers Discord. You can find a link in the show notes
0:36.2	or go to bit.ly slash breakdown pod. Well, here's an interesting little bit of scuttlebut.
0:41.4	House Financial Services Committee Chairman French Hill believes that the president's pro-crypto
0:45.8	stance is actually getting in the way of passing crypto legislation, specifically the
0:51.1	wide range of crypto projects that Trump has gotten involved in. During a press call on Monday, Hill said that Trump's engagement, quote,
0:57.3	in the meme coin arena and in considering the formation of a stable coin, have made our work more complicated.
1:02.9	Certainly, we've seen this in recent congressional hearings,
1:05.2	with anti-cryptodemocrats using criticism of the Trump meme coin as reason to generally resist legislation moving forward.
1:11.4	The recent announcement of a stable coin to be launched by World Liberty Financial simply adds
1:15.7	to the impression that crypto regulation is a way to advance the Trump family's interests.
1:19.8	Republican lawmakers haven't been quick to criticize the president, so these comments suggest
1:24.5	that there are Trump-related roadblocks to forming a consensus in Washington.
1:28.5	Speaking with Politico about the World Liberty Stablecoin, Connecticut Democrat Jim Himes said,
1:33.5	I can't think of anything quite so damaging to bipartisanship than that happening.
1:37.4	Himes is far from an anti-Crypto Democrat, having backed sensible crypto policy in the past.
1:42.0	He said that he hopes to support Stablecoin legislation during the House markup later this week, but the growing Trump Association makes that more
1:47.9	difficult. He added, Chairman Hill is making a real genuine effort to make this bipartisan.
	...

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