Former United States President Donald Trump Criticizes Crypto Market and Calls it “very Dangerous”

The infamous former president of the United States, Donald Trump, has finally spoken up about his new stance on cryptocurrencies. He was invited for a dialogue at the Fox News morning show last week. Speaking to the interviewer, Maria Bartiromo, he shared his thoughts on the booming digital asset market.

Trump claimed that blockchain-based financial systems are very dangerous. He has also shared similar remarks about the industry earlier in June on the same channel. It is worth noting that Trump has spoken enthusiastically about the recent NFT collection launched by his wife and former first lady Melania Trump.

Speaking to a Fox News journalist, Trump recently claimed that he is shocked that the cryptocurrency markets are spreading and developing at such a fast pace. He further claimed that he is a fan of only one type of currency, and it is the USD. He also aired reservations about the government not taking any steps to control and contain the rapidly growing crypto markets.

He claimed that the digital assets market seems like a small fraction of the financial market schism. However, someday this small bomb is going to turn into a massive explosion, and no one is going to be expecting its big impact. Meanwhile, the Republican Party at large has been showing support for cryptocurrency regulations thus far.

Trump served as a presidential candidate representing the Republican Party, yet his stance on cryptocurrencies seems to betray the overall party motto. However, the GOP has been showing signs of a crypto-friendly stance against all expectations. Names like Senator Ted Cruz and Senator Cynthia Lummis also aired for-crypto stance during the latest House Financial Services Committee meeting.

Patrick McHenry called for a law that enables cryptocurrency start-ups in the country. For this purpose, the HFSC lead also took quotations and input from SEC commissioner Hester Pierce. On the other hand, Republicans also showed enthusiasm toward the bipartisan infrastructure bill signed under the Biden administration.

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