https://www.citationneeded.news/trump-crypto-empire/
"In an unprecedented abuse of presidential power, Donald Trump is dismantling
federal cryptocurrency oversight while building a sprawling family crypto
empire worth billions. Through World Liberty Financial, a planned decentralized
finance platform that also recently announced its own stablecoin, the Trump
family is positioning to profit from facilitating cryptocurrency lending and
trading. Through Truth.Fi, they seek direct exposure to bitcoin and profits
from hawking investment products to Trump’s most loyal base. Through a new
bitcoin mining venture, they’re gaining control over crypto infrastructure and
expanding exposure to assets that Trump himself can influence from the White
House. And through a series of memecoins, NFTs, and even a planned crypto game,
the Trumps are converting political support directly into cash. This empire is
set to profit precisely because Trump is gutting the regulations that would
normally constrain it — brazen self-dealing that dwarfs even the unchecked
emoluments violations of his first term. This is only one of the many
widespread abuses characterizing the most flagrant exploitation of presidential
authority in American history.
(It feels weird to write this without noting that there are substantially more
horrific abuses happening as we speak, such as the kidnapping and disappearance
of Kilmar Abrego Garcia and others, without due process or even apparently
genuine suspicion of wrongdoing, to a horrific mega-prison in El Salvador. I
write about the financial abuses of the Trumps because it is my beat, and it is
where I hope I can make something of a difference with my expertise, but I want
to direct you to the excellent coverage from experts in that field such as
Immigration Impact.)
Since Trump took office, federal agencies have issued a torrent of
announcements stripping away long-established financial regulations and
criminal oversight from crypto businesses — dismantling what little oversight
existed in the already predatory and poorly regulated industry. As these
guardrails fall, the Trump family has aggressively expanded their ventures,
which now span nearly every corner of the cryptocurrency world. These projects
don’t just generate direct profits — they create new opportunities for outside
interests to gain favor through cryptocurrency "investments" that would be
illegal as campaign contributions. The timing and scope of these developments
clearly demonstrate that federal policy is being weaponized for personal
profit."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
