Trump’s Crypto Pep Talk Can’t Stop His Memecoin’s Deep Slide

Donald Trump’s renewed pledge to support the US crypto industry’s growth fell short of rekindling appetite for his own memecoin, with $TRUMP falling 14% on Saturday even as the president addressed some of the token’s biggest holders.

During his closed-door remarks Saturday in Florida, Trump reiterated his support for a bill that aims to govern the industry, according to two attendees and recordings provided to Bloomberg. The 45-minute keynote speech, which took place minutes after he canceled US envoys’ trip to Pakistan for Iran peace talks, also touched on topics such as artificial intelligence, the Iran war and Trump-branded sneakers.