Some of Donald Trump’s most vocal supporters in the cryptocurrency community are now expressing regret over backing him, as falling digital asset prices and stalled crypto legislation fuel frustration within the industry.

According to reporting by Axios, members of the online crypto investor community that strongly supported Trump’s 2024 campaign are increasingly blaming the president for recent losses. Once seen as a pro-crypto ally, Trump has become a convenient scapegoat as bitcoin and other digital currencies decline amid broader market pressures.

The backlash has been intensified by controversy surrounding Trump-branded meme coins and crypto ventures linked to the Trump family. Critics say these projects generated major profits for insiders while leaving many retail investors with near-worthless tokens.

Axios also reported that Trump family crypto initiatives brought in hundreds of millions of dollars, including funding tied to a foreign royal investor, further angering grassroots crypto traders.

At the same time, progress on crypto-friendly legislation has slowed. Industry advocates blame political gridlock and Trump’s personal business conflicts with Democrats for stalling key bills that were expected to provide regulatory clarity for digital assets in the United States.

High-profile crypto promoters have publicly admitted misjudging Trump’s impact. Influencer Carl Runefelt apologized to followers after previously predicting massive bitcoin gains, later writing that supporting Trump was a “big mistake” for crypto markets. Other investors mocked earlier campaign promises, including claims that crypto gains would face lower taxes.

Axios noted that while multiple factors have driven the downturn, Trump has become one of the most visible figures associated with the market’s slide. The growing disillusionment reflects a broader pattern of frustration among niche voter groups Trump courted in 2024.

Although it remains unclear whether crypto voter backlash will affect upcoming midterm elections, the shift highlights cracks in Trump’s coalition — particularly among tech-focused and digital asset investors who once viewed his presidency as a catalyst for a new “crypto boom.”

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Key Takeaways

• Crypto supporters who backed Trump are now expressing regret.

• Trump-linked crypto ventures and meme coins fueled investor anger.

• Market losses and stalled legislation have made Trump a scapegoat.

Major Trump backers admit 'big mistake to have him as president' as he becomes 'scapegoat'

Nothing has changed in 1000 years. If you hang around with dogs long enough, you will get fleas.

Crypto has followed a very similar pattern for the last 3 or 4 cycles.

8 hours ago, bannork said:

At the same time, progress on crypto-friendly legislation has slowed. Industry advocates blame political gridlock and Trump’s personal business conflicts with Democrats for stalling key bills that were expected to provide regulatory clarity for digital assets in the United States.

The Clarity Act has been blocked because Trump objects to the legislation's ethics requirements. Both sides, Republicans and Democrats want it, but Trump operatives are stalling it because of the ethics provisions.

9 hours ago, bannork said:

The backlash has been intensified by controversy surrounding Trump-branded meme coins and crypto ventures linked to the Trump family. Critics say these projects generated major profits for insiders while leaving many retail investors with near-worthless tokens.

Axios also reported that Trump family crypto initiatives brought in hundreds of millions of dollars, including funding tied to a foreign royal investor, further angering grassroots crypto traders.

He made his money, the rest is irrelevant to him.