Trump at Davos: US will be the 'world capital of AI and crypto'

US President Donald Trump addressed the World Economic Forum in Davos, Switzerland, on Thursday, marking his first appearance at the event since his inauguration.

During his live-streamed remarks, Trump emphasized his administration’s "America-first" stance on emerging technologies, including cryptocurrency.

He stated that the United States aims to become "the world capital" of both artificial intelligence and digital assets.

“The United States possesses the largest reserves of oil and gas in the world, and we will harness it,” Trump declared.

Trump has been vocal about his interest in cryptocurrency, previously pledging via social media to ensure the US becomes the leader in digital assets.

His efforts culminated in the launch of World Liberty Financial, a decentralized finance (DeFi) platform where he serves as the "chief crypto advocate."

Additionally, just days before his inauguration, Trump introduced Official Trump, a meme coin that has since reached an $8 billion market cap.

Despite its success, Trump’s public comments about the token have been minimal.

“I don’t know much about it except that I launched it,” he said during a White House briefing.

“I heard it’s been very successful, but I haven’t looked into it.”

Earlier on the same day, bitcoin briefly surged to $106,000 following a tease by Senator Cynthia Lummis about a major crypto-related announcement.

However, it was later revealed to be the Senate Banking Committee’s decision to appoint Lummis as the head of a new subcommittee on digital assets, a move already anticipated by the market.