White House Embraces Stablecoins and Bitcoin

The Trump administration is accelerating its embrace of cryptocurrency

On May 28, at the Bitcoin 2025 conference, U.S. Vice President J.D. Vance emphasized that cryptocurrency—especially Bitcoin—has become a part of the U.S. mainstream economy and “is here to stay.”

Robinhood CEO Vlad Tenev stated in an interview: “The Biden administration was very unfriendly toward crypto. Now we have a government that supports cryptographic innovation.”

During his speech, Vance particularly stressed the importance of advancing the GENIUS Act, a bill aimed at establishing a regulatory framework for U.S. dollar–backed stablecoins. He said: “Stablecoins pegged to the U.S. dollar, especially after the GENIUS Act is passed, will only help the American economy and strengthen the dollar.”

Previously, the U.S. Senate passed a procedural motion on the GENIUS Stablecoin Act with a 66–32 vote. However, the bill is expected to face greater resistance in the House of Representatives. The GENIUS Act requires stablecoin issuers to maintain at least a 1:1 reserve ratio, backed by U.S. dollar assets such as short-term Treasury bills. With the current stablecoin market size at $243 billion, full inclusion under the GENIUS framework could generate hundreds of billions of dollars in demand for U.S. Treasuries.

David Sacks, Trump’s top advisor on cryptocurrency and artificial intelligence, revealed to the media that over $200 billion in unregulated stablecoins already exist in the market. He added that a legal framework “could create trillions of dollars in demand for U.S. Treasuries almost overnight.”

According to reports, Donald Trump himself holds $2.9 billion in cryptocurrency assets. His company, Trump Media and Technology Group, recently announced a $2.5 billion investment in Bitcoin. Meanwhile, the President and his sons are reportedly connected to the crypto exchange World Liberty Financial, and Eric Trump is said to have co-founded a Bitcoin mining company.

Media outlets also noted that Vice President Vance personally owns between $250,000 and $500,000 worth of Bitcoin. These close financial ties have drawn criticism from Democrats and some ethics experts, who argue that Trump’s cryptocurrency investments pose significant conflicts of interest.