Crypto is the new Trump family business. Ethics watchdogs have concerns.
Source: Politico
08/31/2024 12:00 PM EDT
Former President Donald Trumps 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. Trumps 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, hes weaving the overtures into his pitch for his sons forthcoming startup. While the details of Eric Trump and Donald Trump Jr.'s crypto endeavor havent yet been announced, it could stand to benefit from a second Trump administrations 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 familys 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
walkingman
(8,247 posts)peppertree
(22,842 posts)They have that much in common with Latin Narcos (besides gaudy bad taste and resentment of the law): they love Crypto.
wryter2000
(47,277 posts)Is out of their every loving mind.
Stardust Mirror
(594 posts)[insert anything here] is the new Trump family business. Ethics watchdogs have concerns.
muriel_volestrangler
(102,360 posts)Investing in a productive business, like manufacturing, or infrastructure, with significant middle-class jobs, is too much like hard work and too much money going to employees for them.
Stardust Mirror
(594 posts)whether the business is normally productive or not, if it's Trump, it's bunk.
vapor2
(1,493 posts)Deminpenn
(16,156 posts)Caveat emptor crypto believers.
ificandream
(10,330 posts)LudwigPastorius
(10,635 posts)This will help his old pal Vladimir prop up the ruble.
muriel_volestrangler
(102,360 posts)Aug 22: Inevitable scam: Trump promotes family's new crypto platform, 'The Defiant Ones'
Aug 29:
Donald Trump told his 90 million followers on X that he would lay out a plan to ensure the United States will be the crypto capital of the planet later on Thursday.
By Thursday evening after a rally and a town hall in two battleground states, the Republican presidential nominee had so far punted on his promise to deliver his crypto plan.
Earlier on Thursday, the GOP pick pumped up the Trump Organizations new crypto platform, which has just been rebranded from The DeFiant Ones, to World Liberty Financial.
...
As of Thursday, it was unclear what the World Liberty Financial platform would specifically do, and whether the project was operational.
https://www.cnbc.com/2024/08/29/trump-crypto-plan-coming-election-harris.html
Puns on "decentralized finance" and an old movie were too complicated; just bung the word "Liberty" in the title, and it'll keep the MAGA marks happy, obviously.
ThoughtCriminal
(14,262 posts)But he sure has a grasp on money laundering.
FakeNoose
(35,386 posts)AnnaLee
(1,149 posts)It goes along with the basic libertarian views of the Heritage Foundation. Back in the 20th century it was all about outrage over the detethering of gold. But an ether creation currency untethered with any social ownership is so, so much better. It begins with financial transactions gradually being required to be crypto, I guess. The rentiers become the cryptoiers. The world, with no financial public tie, is their oyster. The dollar, yang, yen, ruble and all others must lose their power. I think I am either beginning to understand the whole world order stuff or, more likely, losing my mind.
TexasBushwhacker
(20,631 posts)twodogsbarking
(12,188 posts)keithbvadu2
(39,829 posts)Think of Steve Bannon not letting you sell your coins of his cryptocurrency while he can sell his.
Experts Raise Warnings about Steve Bannon's New Cryptocurrency
Source: Mother Jones
Investing cryptocurrency with Steve Bannon
Crypto investing based on hate before profit.
Profit for the big boys.
An 'investment' that the big boys may not allow you to sell while they can sell at will..
https://www.motherjones.com/politics/2022/01/steve-bannon-boris-epshteyn-fjb-crypto/?fbclid=IwAR0LIVF8XP6mC3wbAaD1Fu9b_Msxe6DBm572KFyuyDjvGwClJ4z2R0zfIzI
ZonkerHarris
(25,195 posts)wolfie001
(3,511 posts)JoseBalow
(4,884 posts)PortTack
(34,395 posts)oasis
(51,540 posts)Mysterian
(5,187 posts)It figures the trump skeezers would get involved in shady crypto.
freethought
(2,459 posts)Silly me! Just about everything could go wrong, that's what! Well at least they still remember their Russian benefactors.
amb123
(1,595 posts)Cryptocurrency to fund the destruction of Constitutional government.
moniss
(5,451 posts)about the constant conflicts of interest. Yes I know people tried the courts but we know why the decisions went as they did.
bucolic_frolic
(46,561 posts)Trumps wanting control of the global financial system should be no surprise.
But everyone should be very worried.
Blue Owl
(54,530 posts)Marthe48
(18,754 posts)Nt.
Kid Berwyn
(17,746 posts)Like bank robbers to the bank.
republianmushroom
(17,229 posts)kimbutgar
(23,085 posts)Cypto is a scam.
JCMach1
(27,950 posts)Knowledgeable and proper regulation.
We on the left need to understand that and regulate the industry appropriately.
JCMach1
(27,950 posts)Basic whoring for the people who made bag off crypto at this point, at least the RW ones