Trump’s Crypto Gamble: What is a Stable Coin, Anyway?

Trump wants you paying with TrumpCoin—here’s why you should be worried.

Robert Dempsey

Mar 31, 2025

Imagine walking into your favorite coffee shop, pulling out your phone, and paying for your latte with… TrumpCoin.

Sounds surreal, right?

Well, it might soon be your reality if Donald Trump’s latest cryptocurrency vision becomes mainstream.

But before you panic—or celebrate—let’s break down exactly what he's up to.

🧭 This article is part of my new series “Trump and Crypto: The Stable Coin Saga”. This one’s free for everyone—but the five deep dives that follow are for paid subscribers only. If you want the full story on what Trump’s stablecoin plan means for your money and our democracy, consider upgrading today.

The Trump and Crypto Series:

Crypto in Plain English (Minus the Jargon)

First things first: cryptocurrency is just digital money.

Instead of dollar bills or coins you can hold, crypto exists solely online. Bitcoin, Ethereum, Dogecoin—you’ve probably heard of these digital currencies, which operate outside the control of banks and governments.

But not all cryptocurrencies are created equal.

So, What's a Stablecoin?

Simply put, a stablecoin is a cryptocurrency designed to hold a steady value, usually by being tied (or "pegged") to something stable like the U.S. dollar.

Unlike Bitcoin, whose price can swing wildly from day to day, stablecoins aim to provide the reliability you'd expect from traditional currency.

Think of stablecoins as digital dollars, maintaining their worth and intended to be used for everyday transactions without the risk of dramatic price fluctuations.

Trump's Crypto Vision—Why Now?

Donald Trump isn’t new to crypto.

He’s previously dabbled with NFTs and even launched a controversial meme coin called $TRUMP1, which rapidly gained—and lost—billions in value.

$TRUMP meme coin value as of March 26, 2025

But now, Trump is pushing something bigger: his own stablecoin pegged directly to the U.S. dollar.

Progressive voices like Senator Elizabeth Warren are sounding the alarm, concerned that Trump’s crypto ambitions could further empower billionaires like himself, Elon Musk, and Mark Zuckerberg—allowing private corporations and politically connected individuals unprecedented control over American currency and economic policy.

Trump’s administration has already laid the groundwork with executive orders establishing a Strategic Bitcoin Reserve and digitizing federal payments.

This isn’t just playful experimentation; it’s part of a strategic effort to reshape how America uses money.

What's Really at Stake?

This isn't just about cool tech or digital convenience. Trump’s stablecoin proposal raises serious issues:

Democratic Control: Currency has historically been a public good managed by accountable institutions, not private individuals or corporations.
Financial Security: Without strict regulations, cryptocurrencies become fertile ground for fraud, manipulation, and insider exploitation—something Trump's previous crypto projects faced criticism for.
Everyday Impact: If stablecoins go mainstream, how might your finances, privacy, and consumer protections be affected?

The stakes are high, and the decisions being made today could shape the American economy and democracy for generations to come.

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https://www.forbes.com/sites/digital-assets/2025/01/20/trump-what-you-need-to-know-about-meme-coins-and-the-trump-token/