Former Biden Economists Declare BTC, ETH, BNB, XRP, SOL, ADA are Pointless and Trump Cannot Save Them

Two advisors from the previous Joe Biden administration have written a scathing opinion piece in The New York Times regarding the future of the cryptocurrency sector. Ryan Cummings and Jared Bernstein served on the former president’s Council of Economic Advisers, with the latter being the chair of the platform. They have stated that crypto is pointless, and even Trump’s personal promotion will not be able to save it this time.

The criticism comes as the premier digital currency is currently trading around the $67k valuation at press time, down 47% from its ATH set back in October 2025. Several major legacy economists and market reporters have signalled the end of the crypto market because of a string of poor performances.

Trump Will Not Be Able to Save Crypto

The main theme of the article’s criticism is that crypto is heading toward an early exit, and there is nothing anyone can do about it, not even President Trump. Despite the administration providing unprecedented levels of PR and regulatory support—making Trump the self-styled “Crypto President“—the sector is nonetheless struggling (with slumping prices, market routs, and disappointment even among enthusiasts).

Previously, it was thought that the digital currency economy’s progress was being choked because of a lack of regulatory progress, but now, with a crypto-friendly administration in place for the first time, the theory is being tested.

According to Bernstein and Cummings, the issue with crypto was never the prospect of government crackdowns on crypto, but that it was fundamentally pointless. The digital asset market did enjoy a temporary boom in the buildup to the 2024 election and at the beginning of Trump’s second term, but progress stalled for many months, and now the market is in free fall.

Rather than solidifying crypto’s legitimacy and driving sustained growth, this extreme favoritism “pulled back the curtain” on the industry’s underlying weakness: its assets lack real utility or fundamental value beyond speculation.

Does Crypto Need Trump’s Saving?

Bitcoin has been around for about 17 years and has seen its share of ups and downs. While Trump has boasted about supporting and promoting the digital currency, he has also damaged its reputation by engaging in shady behavior, including allegations of market manipulation.

In practice, Trump is of little consequence in the broader crypto picture, and so was Biden, the most crypto-sceptic president ever, who sent crypto executives to jail and punished innovation. The sector has a natural organic growth trajectory and is continuing to court more users despite recent troubles.

According to the Bitcoin is Dead website, the digital currency has been declared dead more than 479 times in high-profile instances, with dozens of such instances in 2025 and 2026 alone. Blanket, zero-sum statements regarding the crypto’s future should always be taken with a pinch of salt.