Trump Says He Has ‘Obligation’ to Support Crypto Industry

President Donald Trump said he has an “obligation” to support the crypto industry and called digital assets mainstream, pressing for stronger U.S. leadership and backing the Digital Asset Market Clarity Act. The political endorsement was showcased at a Mar-a-Lago event for top meme-token holders, but market reaction was mixed: the Official TRUMP token plunged 21.5% — from roughly $3.00 to $2.52 — wiping about $161 million of market value and reducing entry thresholds for the event from ~$55,000 to ~$8,460. While Trump’s comments could bolster long-term regulatory clarity and adoption prospects for crypto, the sharp sell-off in his own token indicates investor caution and that political support alone may not immediately lift market sentiment.