Trump's Crypto Assets Controversy and Legislative Game: Polls Reveal Awareness Differences, Uncertain Prospects for the Bill

Core Controversy: Presidential Encryption Assets and Legislative Process

According to Decrypt, as the digital asset bill accelerates in the U.S. Congress and is about to be submitted for President Trump's signature, the enormous profits of Trump and his family in the encryption field have sparked increasingly intense controversy.

Democrats launched a protest against "Trump's encryption corruption" in both the House and Senate, and the scale of the protest has led industry policy leaders to believe that the cryptocurrency market structure bill they have been eagerly awaiting may be doomed as a result.

Poll Struggles: Public Awareness and Party Positions

However, a non-profit organization supporting cryptocurrency released a new poll on Monday attempting to refute the claim that "the president's encryption behavior severely hinders the industry's legislative agenda."

• Support for encryption party polls (Commissioned by Cedar Innovation Foundation):
  • Low Awareness: About 60% of voters surveyed nationwide recently have not heard about Trump making significant profits through his family's encryption company World Liberty Financial. Only 40% are aware of this.
  • Meme Coins (Meme币) Attention is Limited: 57% of respondents rarely or have not followed Trump's Solana meme coin ( TRUMP coin ), while 43% have some attention.
  • Conclusion: The Cedar Foundation claims that this result proves that "recent attempts to hype Trump's interest in encryption have not garnered widespread attention from the American public," and the Democratic attack "has not been effective."
• Opposing Party Poll (Data for Progress):
  • Strongly Support Limiting Clauses: 62% of voters believe that Congress should include provisions to prevent Trump and his family from personally profiting from encryption in the cryptocurrency bill.
  • Bipartisan Consensus (varied degrees): 80% support from Democrats, 66% from independent voters, and 42% from Republican voters.

Voices of Doubt: Credibility of Polls and Background of Institutions

A House Democratic aide expressed strong skepticism about Cedar's polling, saying that a "cautious attitude" should be taken, and pointed out that Cedar is a "secret funding organization closely tied to the encryption industry."

It is worth noting that Cedar's poll did not directly ask voters whether they support including provisions to limit the Trump family's interests in the bill, but instead asked, "If Trump is going to be involved in encryption anyway, should the industry have clearer rules?" In response, 79% of Democrats support strengthening on-chain regulation, while only 36% of Republicans support it.

Trump family's encryption territory accelerates expansion

Although Trump has been involved in encryption since 2022, his family's activities in this field have sharply accelerated after the start of his second term:

World Liberty Financial (DeFi Platform ):

• Sold native token WLFI worth $550 million earlier this year.
• Trump and his associates are estimated to have profited around $390 million from it.

Official Solana meme coin ( TRUMP coin ):

• After its launch in January, the market capitalization once soared to over $70 billion (FDV), and the current market capitalization is approximately $8.6 billion.
• Trump and his partners hold 80% of the TRUMP tokens, which will be gradually unlocked over the next three years.

Stablecoin USD1:

• The Trump family partnered with World Liberty and launched in March.
• USD1 is currently the eighth largest stablecoin in the world, with a market value of 2.2 billion dollars.

Legislative Process: GENIUS Act and Presidential Position

The major encryption legislation expected to pass through Congress is the GENIUS Act, which aims to establish a regulatory framework for the issuance and trading of stablecoins in the United States. The bill was passed in the Senate last month and is expected to be voted on in the House next week.

• Key Omission: The bill does not include any provisions that restrict the president and their family from issuing or profiting from their own stablecoins.
• President's Response: When asked at the end of last month whether he would consider exiting the encryption business if it would help the bill pass, Trump avoided the commitment to divest assets. He argued that without his support, the cryptocurrency industry would have already moved overseas.