Disappointment is growing among some young male investors who responded positively to U.S. President Donald Trump’s pro-crypto policies during the 2024 presidential election, The Washington Post (WP) reported.
Crypto influencer Carl Runefelt said Trump was once viewed as a hero in the cryptocurrency industry, but that the mood has changed significantly. He said Trump’s launch of his own memecoin reinforced the cryptocurrency industry’s existing image as a scam.
WP reported that the decline in the price of the TRUMP token and the government’s crypto reserve, composed primarily of assets seized or forfeited without new purchases, fell short of some investors’ expectations. It added that the Trump family’s crypto businesses are also facing criticism.
Meanwhile, Trump continues to receive support from major cryptocurrency companies and industry figures. WP reported that some investors view positively his appointment of pro-crypto figures to the SEC and CFTC and the enactment of the GENIUS Act, a stablecoin regulation law.
Sources
- The Washington Post — Trump loses favor with crypto fans who call him out for cashing in — 2026-10-01