‘Trump’s grifting tendencies’: how the president’s crypto ties could spur corruption

With Trump promising the US will be ‘crypto capital of the planet’, experts say the industry is poised for laxer oversight

With Donald Trump tapping top regulators with cryptocurrency ties and promising to make the US the “crypto capital of the planet”, the controversial and scandal-plagued industry is poised for laxer oversight and faster growth, which ethics watchdogs and ex-prosecutors fear could pose dangers for investors and spur potential criminal abuses.

The president’s pro-crypto stances have come as he wooed crypto companies to ratchet up their campaign contributions to help him win the White House. Although in 2021 Trump called bitcoin a “scam”, he also announced last fall that he and his sons were helping launch a new crypto business, dubbed World Liberty Financial, they can profit from.

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