Donald Trump has been in the eye of a storm that’s engulfed the US political landscape. At the centre of this controversy is the fading line between Trump’s crypto push and his own profits.
In the latest, Trump Media is reportedly in talks to raise $3 billion to invest in cryptocurrency. The funding plan includes $2 billion in equity and a $1 billion bond. This follows a closed-door dinner hosted by Trump in the White House for his investor ‘friends.’ The exclusive event featured Filet Mignon, Halibut, and a half-hour speech from President, capped off with a brief dance to ÝMCA.
But why are analysts and lawmakers not dancing with Trump?
Probably fearing a conflict of interest. Trump had advocated pro-crypto stance during his campaign before becoming president, claiming to make US, the çrypto capital of the world.’ But his company ventures are now accused of profiting from this crypto push.
Trump’s family controls billions in $TRUMP tokens and holds top positions in World Liberty Financial, a crypto firm branding him as ‘Chief crypto advocate.’ Despite claims of a blind trust, ethics experts warn of blurred lines between public office and personal profit.
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Gifts or strategic leverage?
The crypto expansion comes alongside multiple property deals in West Asia and luxury gifts, including a $400 million jet from Qatar, drawing bipartisan criticism.
Senator Elizabeth Warren slammed Trump’s recent crypto moves, warning of hidden corruption at play.
‘Um, Donald Trump’s dinner is a, is a, an orgy of corruption. That’s what this is all about. We are here today to talk about exactly one topic, corruption. Corruption in its ugliest form. Donald Trump is using the presidency of the United States to make himself richer through crypto and he’s doing it right out there in plain sight,’ she said during a press conference.
Meanwhile, the White House maintains it has no role in the Trump family’s private financial dealings.