Trump: The crypto industry is in its infancy, and I don't want other countries such as China to take over the field.

TechFlow reported that former President Donald Trump revealed in an interview with Bloomberg Businessweek that cryptocurrencies "are not going away. This is amazing." He added that he "met a lot" of top figures from the crypto industry at fundraisers. Trump, who was once skeptical of cryptocurrencies, told Bloomberg Businessweek that he turned to the industry because "if we don't do it, China will take over, or other countries, but it is likely to be China. China takes this very seriously."

Trump said that the U.S. crypto industry "has a good foundation. It's still a baby now. But I don't want other countries to take over this field."

According to a report by the Wall Street Journal on Tuesday, new data from the Federal Election Commission (FEC) showed that about $3 million of the approximately $331 million raised by the Trump campaign last quarter came from cryptocurrencies.

Previously, Trump announced plans to launch a fourth NFT series.