The Financial Times get a lot of crap from Bitcoiners, and by and large it's deserved. But this one by Jemima on the Trump family's shenanigans was excellent.
while billions of dollars of Trump’s net worth might now derive from the bounteous blockchain gravy train, the president has already confessed that he doesn’t know much about crypto. Surely “but I don’t understand the technology, officer” is as good an excuse as any. So move along please. Nothing to see here.
ANYBODY BELIEVE THIS?!
Last month, it emerged that the United Arab Emirates had chosen to use $2bn worth of World Liberty Financial’s stablecoin for its investment into the crypto exchange Binance, just two weeks before the US gave the Gulf state access to hundreds of thousands of the world’s most advanced and scarce AI chips. Both the White House and World Liberty Financial deny any connection between the two deals.
...and then the Justin Sun debacle, where the SEC magically just put the investigation into the scammer's company on hold RIGHT as he had bought $90m of Trumpcoins... or the dinner... or the coin launches.
"How can we account for all this? And is it just a coincidence — or simply because his sons happen to be so passionate about it — that all of it happens to involve crypto?"
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Crypto itself is the Wild West of finance, where exploiting regulatory loopholes and bypassing national controls is the name of the game. Crypto has never been about innovation, but about getting away with things you would not otherwise be able to.
She's not wrong.
UK context:
Nigel Farage’s Reform party just became the first major UK party to accept them, opening the door to all sorts of actors exerting political influence. Crypto was built for this. Murky dealings aren’t the bug, they’re the whole point.
The lowest, most obvious pro-Bitcoin stance by Democrats would be to attack this political influence shit.
Archive: https://archive.md/kbVk7