Perhaps nobody has spent more to buy a break from public scrutiny than the #crypto industry.
“The crypto guys are just blowing it out,” an anonymous Trump advisor told Axios.
“It used to be $1 million was a big number. Now we’re looking at some folks giving like $10 [million] or $20 million.”
They want a friendly Securities and Exchange Commission.
Venture capitalist and PayPal Mafioso David #Sacks has already been named as a “crypto czar.”
And there’s a pending executive order to name crypto
“a national imperative or priority
— strategic wording intended to guide government agencies to work with the industry,” according to Bloomberg.
We may even be about to witness our very first presidential meme coin pump-and-dump.
Crypto is good for little besides crime and gambling -- and less regulation means more chances for people to get scammed by the next #FTX.
(Speaking of gambling, #Robinhood donated $2 million to the Trump inaugural fund.)
On top of that, the executive order means a higher likelihood of crypto getting shoveled into new government projects — whether it’s useful or not.
Crypto capture could even extend to soft-pedaling enforcement of the assorted criminal industries that rely on it.
https://www.theverge.com/2025/1/20/24346317/trump-gangster-tech-regulation-corruption-grift