A fake video featuring Donald Trump dramatically unveiling the Bitcoin whitepaper in the Oval Office, alongside a replacement of the Declaration of Independence with Satoshi Nakamoto’s work, has gained widespread attention on social media this week.
In the altered video, Trump theatrically pulls aside curtains to reveal a framed version of Bitcoin: A Peer-to-Peer Electronic Cash System while Fox News host Laura Ingraham observes.
“Do you think Joe Biden would do something like this? I doubt it,” Trump smiles. “…Do you think he even understands what it is?”
Both Meta and community notes on X have flagged the clip as manipulated. The footage was edited from a recent Fox News segment in which Trump presented a copy of the Declaration of Independence he had placed in the Oval Office.
Is it fake? Yes. However, the core idea that Trump is adopting cryptocurrency in a manner unprecedented by any president is increasingly becoming a reality.
Since regaining office, Trump has actively pursued his objective of transforming the U.S. into “the crypto capital of the world.”
What initially appeared to be a campaign gimmick, featuring Trump-branded NFTs and token launches backed by his family, has transitioned into a comprehensive policy shift regarding digital assets.
Shortly after his inauguration, Trump signed an executive order to establish a strategic Bitcoin reserve, signaling a new direction for U.S. crypto policy.
The U.S. Securities and Exchange Commission has since dropped enforcement actions against Kraken, ConsenSys, Immutable, and Crypto.com, reversing a number of high-profile cases. Additionally, Trump Media has entered into a partnership with Crypto.com.
On Capitol Hill, momentum is building. The Senate voted 70-28 on Wednesday to overturn a Biden-era IRS rule that would have compelled decentralized finance platforms to collect and report tax data of users.
Critics had labeled the existing rule as “fundamentally unworkable,” pointing to the code-based and pseudonymous characteristics of DeFi protocols.
Republican lawmakers are now racing to push forward comprehensive legislation to regulate stablecoins and the digital asset marketplace.
During this week’s Digital Chamber Blockchain Summit in Washington, leaders from both the House and Senate indicated upcoming progress on the FIT21 market structure bill, which aims to clarify regulations for crypto assets, and a new framework for stablecoins.
Edited by Sebastian Sinclair
Daily Debrief Newsletter
Start each day with the latest top news stories, along with original features, a podcast, videos, and more.
