US Treasury Secretary Puts Crypto Alongside AI and Chips in Competition With China

US Treasury Secretary Scott Bessent has placed digital assets alongside AI and semiconductors in America’s technology race with China, saying a US win in crypto would strengthen the dollar. Bessent opened Ripple’s Swell conference at The Shed in New York on Tuesday, in conversation with Ripple chief executive Brad Garlinghouse. He argued that reserve currencies have historically drawn their power from military strength. We will keep our military umbrella, but I think more and more it’s becoming a technology umbrella.