President Donald Trump reaffirmed his strong support for the cryptocurrency industry on Monday, February 2, 2026, during remarks in the Oval Office. Declaring himself "a big crypto person" and claiming he has "probably helped crypto more than anybody because I believe in it," Trump highlighted his administration's efforts to position the United States as a global leader in digital assets. This came amid ongoing discussions with reporters, where he emphasized belief in the sector's potential and warned that failing to embrace it could allow competitors like China to dominate.
The comments align with broader policy pushes under the Trump administration. Since March 2025, work has advanced on a Strategic Bitcoin Reserve, with recent indications it could expand to include major cryptocurrencies such as Bitcoin, Ethereum, Solana, and XRP. This initiative aims to treat select digital assets as strategic national holdings, similar to traditional reserves.
On the regulatory front, the White House is actively mediating compromises on key crypto legislation. Advisers met with banking and industry representatives on February 2 to address sticking points in a major market structure bill (often referred to in discussions around the CLARITY Act or similar frameworks). A primary focus remains the treatment of stablecoin yields and rewards, with efforts to find common ground before month's end to advance Senate negotiations.
Despite this pro-crypto rhetoric and policy momentum, the broader cryptocurrency market has faced significant pressure in early 2026. Bitcoin has declined notably, dipping toward levels around $74,000–$78,000 in recent sessions amid broader risk-off sentiment. Factors include expectations of tighter monetary policy following related economic developments, leading to liquidations and a pullback from earlier highs. Altcoins like Ethereum, Solana, and XRP have also seen correlated weakness.
Trump's vocal endorsement and the administration's regulatory initiatives signal continued U.S. commitment to fostering crypto innovation. However, market participants are closely watching how these efforts translate into concrete legislation and whether they can counter prevailing macroeconomic headwinds to restore bullish momentum in digital assets.
