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President Donald Trump stated on Friday that he has “always felt” digital money was “a little bit dangerous,” a remark made in the White House Oval Office one day after hackers stole approximately $6.3 billion from the cryptocurrency exchange Binance.
The comments came as reporters pressed the president regarding the massive theft. In response, Trump contrasted digital assets with traditional banking methods.
“You know, the old-fashioned way when you used to sign a check… These are different. People never see the money anymore. So I’ve always felt it was a little bit dangerous,” Trump said.
Previous Statements on Digital Assets
This is not the first time the president has expressed skepticism toward cryptocurrency. In July 2019, Trump wrote that crypto was “not money” and “based on thin air.” Two years later, in June 2021, he told Fox Business that Bitcoin “seems like a scam.” By December of that year, he had described crypto as “a very dangerous thing.”
His current financial situation presents a complex backdrop to these remarks. Trump’s 2025 financial disclosure indicates that he made more than $1.4 billion from cryptocurrency ventures last year. The largest component of this income was a $636 million license deal for the TRUMP meme coin, a token sold using his name and image.
Family Ventures and Binance Ties
Another $515 million or more in income came from token sales at World Liberty Financial, a crypto firm co-founded by Trump with his sons. The company issues USD1, a token designed to maintain a value of $1. Most of the USD1 supply has been held on Binance.
The relationship between the Trump administration and Binance has been a subject of recent legal and political attention. In October 2025, Trump pardoned Binance founder Changpeng Zhao. The White House stated that the earlier prosecution of Zhao reflected a “desire to punish the cryptocurrency industry.”
Public opinion on the president’s financial gains appears divided. A Reuters/Ipsos poll reported in August found that 63% of Americans consider Trump’s crypto profits inappropriate. The president made his Friday remarks four days before Tuesday’s midterm elections.
Binance has stated that its customers will not lose money as a result of the hack. When asked about this assurance, Trump replied, “We’ll see.”
Frequently Asked Questions
How much did Trump earn from crypto last year?
Trump’s 2025 financial disclosure lists more than $1.4 billion in income from cryptocurrency ventures, including $636 million from a TRUMP meme coin license deal and over $515 million from World Liberty Financial token sales.
What was the size of the Binance hack?
Reporters asked Trump about a theft from Binance in which hackers stole approximately $6.3 billion. The remarks were made one day after the incident was reported.
