Donald Trump Teaches Crypto Fans a Lesson

Analysis of crypto news

The topic is cryptocurrency

On Tuesday, July 7, 2026, at 4:44 am

Donald Trump promised to make America a crypto hub

US President Donald Trump was expected to help the crypto world

But it helped him instead

Trump supported crypto in the 2024 election after calling it a scam

He promised to make America the world's crypto capital

Donald Trump supported crypto in his 2024 campaign

To help crypto, Trump would loosen rules and accept Bitcoin

He kept his promises and made a lot of money

Trump and his family made $1.4 billion from crypto

But Trump doesn't seem to fully believe in crypto

The Trump family took money from crypto deals instead of holding crypto

This protected them from big losses when crypto prices fell

Trump made $636 million from a meme coin

Donald Trump Jr and Eric Trump started a crypto company

The company's token, $TRUMP, lost value and hurt investors

Many crypto investors are losing money

Even with acceptance, Bitcoin is not very useful

Bitcoin is no longer special and is mostly used for gambling

The price of Bitcoin has fallen by half

Sometimes 'never' means something else

Michael Saylor had good news about his company

Saylor's company owns a lot of Bitcoin

Saylor said to never sell Bitcoin, but he had to

Saylor's company is struggling after the Bitcoin price fell

Saylor sold Bitcoin to pay debts

Saylor used to work with software, but now he works with crypto

Trump's meme coins made a lot of money, but was it a good investment?

Saylor's focus on Bitcoin helped his company's stock price

Saylor bought more Bitcoin, but the price fell

The company is now selling Bitcoin to pay debts

This is a strategy to survive

Power-hungry AI is changing crypto mining

A few years ago, a big crypto exchange failed

Now, some big crypto financiers are having problems

A US company that helps with crypto trades went bankrupt

Something is hurting the crypto industry

It's electricity that's hurting crypto

AI needs a lot of power, which is affecting crypto

Bitcoin needs 'miners' to work

Miners solve math problems to process transactions

This process uses a lot of electricity and is expensive

The cost of mining Bitcoin is high, and the price is low

The global economy is doing well, but crypto is not

Miners are struggling because of high electricity costs

AI is becoming popular, and data centers are being built

Some Bitcoin mining facilities are switching to AI

Many miners are choosing AI for better profits

Eric Trump recently got into Bitcoin mining

His company, American Bitcoin, was popular at first

But the price of Bitcoin fell, and the company struggled

The stock price of American Bitcoin has fallen a lot

Even gamblers are leaving Bitcoin

Bitcoin was created during a financial crisis

The world was in chaos, and the economy was struggling

Banks were not lending, and people were losing their jobs

The crisis was very bad, and people were looking for a new system

Bitcoin was supposed to be a new kind of money

But 17 years later, Bitcoin has not succeeded

It's not used for transactions, and it's not a good store of value

Stablecoins are more useful than Bitcoin

Even crypto fans measure value in traditional currencies

Bitcoin is mostly used for gambling, and its popularity is falling

There are new ways to gamble, like prediction markets

Who is still betting on Bitcoin?

On Tuesday, July 7, 2026, at 4:44 am

On Tuesday, July 7, 2026, at 6:32 am

See more news from ABC

Promotion

Luyện nghe