Donald Trump Labels Central Bank Digital Currencies (CBDCs) and Artificial Intelligence as ‘Dangerous’

In a recent interview with Maria Bartiromo on Fox Business, ex-President and prominent figure in the Republican presidential race, Donald Trump, voiced serious concerns about the idea of a central bank digital currency (CBDC), calling it a "very dangerous thing." During the interview on February 2, he didn't stop at digital currencies, expressing his concerns about artificial intelligence (AI) as well, labeling it as both "dangerous and scary." Trump also shed light on the recent increase of deepfakes, emphasizing their power to manipulate everything from false product endorsements to influencing the tide of war, as detailed by Coin Desk.

“I saw somebody ripping me off the other day where they had me making a speech about their product. I said I’ll never endorse that product. You can’t even tell the difference. It looks like I’m actually endorsing it,” he said. He further continued, “You can get that into wars and other things. Something has to be done about this, and it has to be done fast.” Additionally, Trump also said that AI is “maybe the most dangerous thing out there of anything because there is no real solution.” In the same interview, Trump made it clear that he intended to swap out Jay Powell from his position as the chair of the Federal Reserve, citing his perception of Powell as being "political" in nature.

He said, “It looks to me like he’s trying to lower interest rates for the sake of maybe getting people elected." Additionally, according to the insights from Crypto News, Trump's recent remarks show his sentiments expressed at a New Hampshire rally the previous month. During that event, he made a promise to prevent the establishment of a central bank digital currency. Notably, Trump acknowledged former Republican adversary Vivek Ramaswamy for enlightening him about the potential hazards associated with CBDC. Moreover, it's worth noting that Trump's perspectives on cryptocurrency have undergone notable transformations over the past years. The former president previously called the digital assets “highly volatile,” “not money,” and “based on thin air.”

In one of his tweets from 2019, Trump wrote, "I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity...." He further stated, "We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!"

Meanwhile, regarding Ramaswamy, Trump said, “I didn’t like him when he was running, but I like him now." He said this during his last month’s rally. He added, “It’s amazing how you can like somebody when you win.” In addition to Ramaswamy, Trump has also garnered backing from an unexpected quarter—his rival, Florida Governor Ron DeSantis. This shows the support Trump has been receiving. In his X video, DeSantis said, “I signed a pledge to support the Republican nominee and I will honor that pledge."