Former US President Donald Trump has made a dramatic change in his attitude towards cryptocurrencies. In his speech at the Libertarian National Convention in Washington, Trump stated that under his leadership, crypto and Bitcoin will develop in the United States and not be pushed abroad.

Trump has vowed to defend the right of the nation's 50 million crypto holders to protect their assets and keep prominent critics like Elizabeth Warren away from their holdings. He also stated that he would oppose establishing a central bank digital currency (CBDC), a significant shift from his previous skepticism towards the asset class.

This open move by Trump towards cryptocurrency investors is seen as a significant departure from his critical stance during his presidency. While the Republican Party has shown greater support for Bitcoin and other digital assets in recent years, leading Democrats have a divided stance on legitimizing the industry following several high-profile scandals.

Additionally, Trump's open support represents a turning point for crypto companies that have lobbied heavily in Washington and invested tens of millions of dollars to shape the 2024 elections.