The opening of the Public Citizen report I noted in the aforelinked Trump Crypto Game (“‘Thin Air,’ Real Money: Donald Trump’s Crypto Products Have Left Investors at Least $4.7 Billion Underwater”):

“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,” President Donald Trump tweeted in July 2019. “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.”

Seven years later, Trump has become the world’s foremost crypto salesperson, hawking nonfungible tokens, meme coins, governance tokens, stablecoins, and shares in a digital-asset treasury.

What changed? The president realized there were billions to be made hawking thin air to supporters, supplicants, and speculators.

Trump recognizes a scam when he sees one. It just took him a while to figure out how to profit from it.