Trump Debuts at WEF Davos, Vows to Make the U.S. the Global Hub for AI and Cryptocurrency
JAKARTA, investortrust.id – U.S. President Donald Trump, in one of his first public appearances since assuming office, pledged to transform the United States into the "world capital of artificial intelligence and cryptocurrency" during the World Economic Forum (WEF) annual meeting.
Speaking virtually from Washington, D.C., to attendees in Davos, Switzerland, on Thursday, Jan. 23, 2025, Trump emphasized the role of American energy production in fostering economic dominance. He argued that leveraging the country's oil and gas resources could "reduce the cost of nearly all goods and services" while positioning the U.S. as a "manufacturing superpower."
The President's remarks aligned with his campaign promises to the crypto industry. At the Bitcoin 2024 conference in July last year, Trump outlined his vision of making the U.S. "the cryptocurrency capital of the planet and the global Bitcoin superpower."
AI-Rendered Cryptocurrency Illustration. Photo: AI Generated
Executive Action on Crypto and AI
According to Cointelegraph, Trump signed his first executive order (EO) affecting the cryptocurrency industry on Friday, Jan. 24, 2025. Addressing the nation from the Oval Office, he introduced David Sacks, dubbed the "chief of AI and crypto," to outline the EO's implications.
The order proposes establishing an "internal task force to position America as the global capital of cryptocurrency," with Sacks at the helm. Additionally, the EO bans the issuance and use of a U.S. central bank digital currency (CBDC) while calling for a detailed study into the creation of a national crypto reserve and a regulatory framework for stablecoins.
The task force, if formed, will include members such as the U.S. Treasury Secretary, Attorney General, Securities and Exchange Commission (SEC) Chair, and Commodity Futures Trading Commission (CFTC) Chair, among others.
Fulfilling Promises and Controversy
Critics have scrutinized Trump's commitment to his crypto-related promises. While his inaugural speech failed to mention blockchain or digital assets, he took notable steps, such as pardoning Ross Ulbricht, the founder of Silk Road, who was released after 11 years in prison.
Additionally, Trump launched the controversial "Trump Official Token" (TRUMP) on Jan. 17. The memecoin has sparked backlash, with accusations of leveraging the presidency for personal gain and concerns over potential foreign interference.
Despite these controversies, Trump's Davos debut highlights his administration's ambition to make America the global leader in emerging technologies like AI and cryptocurrency.