Trump Warns China Is Growing Fast in Bitcoin, Promises U.S. Lead

U.S. President Donald Trump has once again voiced strong support for the cryptocurrency industry. He warned that China is “getting very big into Bitcoin and crypto right now.” His comments, shared during a recent interview with CBS correspondent Norah O’Donnell at Mar-a-Lago. Which have quickly reignited debate over America’s role in the global digital asset race.

Trump Says U.S. Must Stay Number One in Crypto

Trump made it clear that his goal is to keep the United States at the top of the crypto industry. “I want to keep America number one,” he said. He stressed that crypto has become a massive industry capable of shaping global financial leadership. The president compared the crypto race to artificial intelligence, calling it critical to national competitiveness. 

He also said that if the U.S. fails to lead, other nations, particularly China and Japan, will dominate. “If we’re not going to be the head of it, China or someplace else is,” he added. Trump’s renewed enthusiasm for crypto aligns with his recent campaign messaging. Which has leaned heavily on innovation and technology as key areas for U.S. growth.

Defending His Pardon of Binance’s CZ

During the interview, Trump was also asked about his controversial decision to pardon Changpeng Zhao, the Co-founder of Binance. Zhao had pleaded guilty in 2023 to violating anti-money laundering laws. A case the U.S. government said caused “significant harm to national security.” Trump dismissed the allegations, calling the prosecution a “Biden witch hunt.” He claimed that Zhao was unfairly targeted and described him as “a highly respected, successful guy.” 

Trump said he knew little about Zhao personally but believed the pardon was justified. “He was a victim, just like I was, of a vicious, horrible group of people in the Biden administration,” Trump said. He also pointed out that his sons are more involved in the crypto space than he is. Emphasizing that he views digital assets as a legitimate and valuable part of the U.S. economy. Therefore, this stance marks a clear shift in perspective.

China’s Rapid Growth in Bitcoin

Trump’s remarks about China came amid concerns. That the country has been quietly reasserting its influence in the crypto sector despite previous bans. “China is getting into it very big, right now,” he said.  With a warning that losing ground could harm America’s economic and technological edge.

He argued that U.S. policy under Former President Biden had slowed progress. Also, his own administration’s approach helped push the country ahead in crypto innovation. “We’re number one in crypto in the whole world because I’m the president,” Trump declared confidently.

America’s Position in the Crypto Race

Trump concluded by reiterating that he wants the United States to maintain its dominance in crypto and AI. Specifically, “We are number one, and that’s the only thing I care about,” he said. Therefore, “I don’t want China or anybody else to take it away.”

His comments reflect a broader trend among U.S. political leaders who now view cryptocurrency not just as a financial innovation. But as a matter of national strategy. As China ramps up its involvement, meanwhile, Trump’s warning underscores growing pressure. For the U.S. to strengthen its position in the global digital economy.