Crypto Is the New Trump Family Business

[W. Niederhut]

Crypto is the new Trump family business. Ethics watchdogs have concerns.

Source: Politico

08/31/2024 12:00 PM EDT


Former President Donald Trump’s pledge to turn the U.S. into the “crypto capital of the planet” and implement industry-friendly policies could have a new beneficiary: his own family. Trump’s eldest sons are gearing up to launch a new cryptocurrency venture called World Liberty Financial, which is already receiving a big social media boost from their father. Government ethics watchdogs say the project could create a conflict of interest if Trump returns to the White House next year.

Trump has vowed to enact an array of pro-crypto policies in a bid to win votes — and campaign cash — from digital asset enthusiasts in recent months. Now, he’s weaving the overtures into his pitch for his sons’ forthcoming startup. While the details of Eric Trump and Donald Trump Jr.'s crypto endeavor haven’t yet been announced, it could stand to benefit from a second Trump administration’s approach to support the industry.

“To promise crypto-friendly policies and have your family engage in the same business is, I think, conflict of interest 101,” said Ishan Mehta, director for media and democracy at Common Cause, a nonprofit that advocates for government transparency.

Crypto is the latest ethics concern to arise around the Trump family’s businesses, which drew intense scrutiny during his first administration after he opted not to divest his holdings in them. In addition to crypto, Trump is also facing new questions about what he would do with his stake in the parent company of the social media service Truth Social.

Read more: https://www.politico.com/news/2024/08/31/trump-crypto-family-affair-00176764

[W. Niederhut]

Non-rhetorical question for the forum.

What is the utilitarian value of crypto currencies?

In what way(s) do they improve the public welfare?

[W. Niederhut]

File this one under, "No Honor Among Thieves..."  🙄

 

'A huge mistake': Trump's crypto allies cringe over family's startup

Donald Trump’s sons want to turn their father’s growing bromance with the cryptocurrency industry into the new family business. So far, the project’s troubled rollout has succeeded in creating only one thing: a potential political liability for the former president.

Trump’s eldest sons — Donald Trump Jr. and Eric Trump — have been teasing their plans to unveil a crypto startup called World Liberty Financial for weeks. But the launch has been marred in recent days by a series of apparent scams that have redirected fans to fake pages and compromised the social media accounts of other Trump relatives.

The incidents have begun to rattle some of Trump’s allies within the crypto world. They’re warning that his family should shelve a project that they say creates unnecessary political risks and reflects poorly on the industry.

“This is a huge mistake,” said Nic Carter, a Trump supporter who is a founding partner at the crypto-focused venture capital firm Castle Island Ventures. “It looks like Trump’s inner circle is just cashing in on his recent embrace of crypto in a kind of naive way, and frankly it looks like they’re burning a lot of the good will that’s been built with the industry so far.”

https://www.politico.com/news/2024/09/06/trump-family-crypto-startup-00177566

[W. Niederhut]

Confused Trump struggles in 'painful' crypto interview and keeps trying to change topic

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Confused Trump struggles in 'painful' crypto interview and tries to change topic - Politics - News - Daily Express US (the-express.com)

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