JD Vance says crypto can help everyday Americans. Here’s how many actually use it.

The Trump administration has increasingly courted the crypto audience. Last week Trump held a dinner for buyers of the president’s personal meme coin. On Wednesday the Labor Department withdrew guidance advising employers to be cautious about making cryptocurrency investments available to their employees 401ks.

Vance told the crowd Wednesday “we want our fellow Americans to know that crypto and digital assets, and particularly Bitcoin, are part of the mainstream economy and are here to stay.”

He touted Bitcoin’s ability to help Americans without a banking account (in 2023, 4.2% of U.S. households are unbanked, according to the FDIC). “Crypto has transformed how Americans transact with one another,” he said. “It’s expanded access to banking for many who may not otherwise have had it.”