TD Cowen: Crypto is not a priority for Trump

In a memo to investors, U.S. investment bank TD Cowen evaluated that the fact that U.S. President Donald Trump did not mention cryptocurrency in his speech to Congress recently suggests that it is not a priority. According to The Block, TD Cowen emphasized that if Trump thought cryptocurrency was important, he would have mentioned it. He may have considered that if he mentioned cryptocurrency in Congress, it could cause antipathy from the Democratic Party. The Republican Party currently needs support from the Democratic Party to pass the stablecoin bill. TD Cowen speculates, however, that the bigger reason is that Trump does not see cryptocurrency as a key issue within his broader political agenda.