When Donald Trump converted to Blockchain technology during his presidential campaign, the encryption industry celebrated that they had finally had an ally for the US Supreme Office. They also did not expect a competitor.
On Thursday, the president will Host A “dinner party” for the best 220 holders of $ Trump Memecoin at the Golf Club in Virginia – an unprecedented mix of public duties and private commercial transactions, especially with most of those present remaining the nickname.
The official dinner, which will start at 7 pm and require a rear examination, has sparked a cry of Democrats and ethics experts who indicated that Trump’s family works that launched the currency, Controls The vast majority of cryptocurrencies and trading fees. But they are not the only ones who express their concern: the encryption hall, which Trump was worn on the campaign’s path and during the first few months in his post, began to express its dissatisfaction in particular, partly due to the fear that dinner can hinder the proposed encryption legislation that is in central violations in Congress.
“It is a terrible view of it, the industry, and the country,” said one of the pressure groups in Crypto, which represents the major industry companies with which it spoke. luck Provided that his identity is not disclosed to discuss the customer’s sensitive relationships. “No one seems to be interested in the Trump administration.”
“The president is working to secure good deals for the American people, not for himself. President Trump only behaves in the best interests of the American public-and this is the reason that they have re-elected him with an overwhelming majority in this position, despite years of lies and wrong accusations against him and his companies from fake media.” luck.
Micoin is wonderful
After deciphering Bitcoin as a “fraud” just a few years ago, Trump rose to this sector while running for his second term. Not only attended the encryption industry, including the annual Confab Bitcoin in Nashville last summer, but also began developing his Blockchain products with his children. That was crowned in Release From the brand Memecoin, $ Trump, on the weekend before its inauguration. With the control of the entities that Trump followed 80 % of the display fees and trading fees, the mechanical raised at the beginning to the maximum market of more than $ 9 billion before it decreased by more than 80 %.
After taking office, Trump continued to launch new encryption products through the Blockchain project for his family, World Liberty Financial, including release Stablecoin Usd1 in late March, just as the House of Representatives and the Senate were progressing on two projects that create Stablecoin. But maybe Trump’s most proud move was April advertisement The best memein holders can join it for dinner, causing its price to increase by approximately 60 % in only one hour. The attendees will include a lot Foreign individualsLike Chinese billionaire Justin Sun, who was the frequent goal of American organizers, raises questions about whether the event violates the key Rulings of ethics.
The Trump encryption behavior has led to a scrutiny from Democratic lawmakers, including those who previously supported Blockchain. Its invasion to Stablecoins, especially the use of USD1 to finance an investment of $ 2 billion in Binance by the Emirati investment company, almost drunk Stablecoin legislation in the Senate.
Democrats submitted legislation that would limit his participation with Crypto, including a draft law submitted by a member of the MAXINE Waters (D-Calif.) On Thursday, was called trading, retaining, and the generally unsuccessful market in the 2025 encryption law, or Trump’s stop.
“Nowhere is Trump’s Blatant Disregard and Dispecting for the Rule of Law More Apparent Than in the Way He has exploited the Office of the Presentation to Promote Shady, Fraudulent Crypto Ventures that Hold no Real Value, and SERVE No True Purpose Other Than to Pad His Pockets, “Waters SAID In A Statement shared with luck.
While the encryption leaders have publicly supported Trump’s Blockchain projects, arguing that he is clarifying his enthusiasm towards the sector, many still admit that Memecoin’s dinner is a defect in this industry – and they can impeded legislation. Another person close to the encryption hall, which spoke with luck Provided that his identity is not disclosed.
A few makers of the Republican policy have recognized the embarrassing position, although the coding enhancement of Sina Lomis (R-WYO) NBC The dinner “gave it a stop.” The person close to the encryption hall said luck They expressed their concerns about David Akal Bo HeinzThe best Trump encoding consultant, but without great success.
Other pressure groups said that while many in this industry support the main public, especially after a wave of organizational measures that are friendly, the dynamic is different behind closed doors, especially with Trump’s release of competitive products. They said: “We are all embarrassing and insulted.” “It is encrypted to happen.”
This story was originally shown on Fortune.com
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