How Trump Came Around to Crypto and What Crypto Wants in Return

US President Donald Trump was once skeptical of digital assets, saying Bitcoin “seems like a scam” and that crypto’s value was “based on thin air.”

How times have changed. Since returning to office in January, Trump has put out executive orders supporting the industry and expanding the government’s use of digital assets, and signed a law legitimizing stablecoins, a type of cryptocurrency that’s supposed to keep a stable value. The president and his family have expanded their network of business ventures into almost every corner of the crypto world.

Investors have taken notice. Prices of digital ...