{"id":20826,"date":"2025-01-25T16:26:01","date_gmt":"2025-01-25T17:26:01","guid":{"rendered":"https:\/\/medexperts.pro\/?p=20826"},"modified":"2025-01-26T18:24:55","modified_gmt":"2025-01-26T18:24:55","slug":"trumps-crypto-venture-divides-the-industry-he-aims-to-support","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=20826","title":{"rendered":"Trump\u2019s Crypto Venture Divides the Industry He Aims to Support"},"content":{"rendered":"
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The president\u2019s promotion of a speculative digital coin left some crypto investors feeling blindsided, while others saw it as a gimmick that undermined the industry\u2019s credibility.<\/p>\n

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Dressed in ball gowns, tuxedos and \u201cMake Bitcoin Great Again\u201d<\/a> baseball caps, a crowd of some of the country\u2019s most powerful cryptocurrency executives gathered a few blocks from the White House for a lavish party three days before President Trump\u2019s inauguration, toasting an incoming administration that had vowed to promote the industry\u2019s interests.<\/p>\n

Even Snoop Dogg joined the festivities, offering a rendition<\/a> of \u201cDon\u2019t Stop Believin.\u2019\u201d<\/p>\n

But the crypto millionaires and billionaires were caught off guard by what happened next.<\/p>\n

At 9 p.m. on Jan. 17, with the festivities in full swing, Mr. Trump announced<\/a> on social media that he was launching a new cryptocurrency \u2014 a so-called memecoin<\/a> known simply as $Trump.<\/p>\n

The surprise disclosure raised fresh ethics and legal concerns about the ways in which Mr. Trump continues to cash in on his power and fame, in this case by marketing a digital asset in an inherently volatile and speculative market to millions of his followers.<\/p>\n<\/div>\n<\/div>\n

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And it set off a wave of criticism from inside the industry that he says he wants to champion.<\/p>\n

Crypto executives criticized the move as a cash grab, saying that Mr. Trump had undercut the industry\u2019s credibility at the very moment when proponents were seeking a more prominent place for digital currencies in mainstream finance and business.<\/p>\n

His venture, they said, created a brief and highly publicized bubble that partly deflated within a few days even as Mr. Trump\u2019s family and its business partners collected millions of dollars from fees on purchases and sales of the coin.<\/p>\n

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The president\u2019s promotion of a speculative digital coin left some crypto investors feeling blindsided, while others saw it as a gimmick that undermined the industry\u2019s credibility.Dressed in ball gowns, tuxedos and \u201cMake Bitcoin Great Again\u201d baseball caps, a crowd of some of the country\u2019s most powerful cryptocurrency executives gathered a few blocks from the White House for a lavish party three days before President Trump\u2019s inauguration, toasting an incoming administration that had vowed to promote the industry\u2019s interests.Even Snoop Dogg joined the festivities, offering a rendition of \u201cDon\u2019t Stop Believin.\u2019\u201dBut the crypto millionaires and billionaires were caught off guard by what happened next.At 9 p.m. on Jan. 17, with the festivities in full swing, Mr. Trump announced on social media that he was launching a new cryptocurrency \u2014 a so-called memecoin known simply as $Trump.The surprise disclosure raised fresh ethics and legal concerns about the ways in which Mr. Trump continues to cash in on his power and fame, in this case by marketing a digital asset in an inherently volatile and speculative market to millions of his followers.And it set off a wave of criticism from inside the industry that he says he wants to champion.Crypto executives criticized the move as a cash grab, saying that Mr. Trump had undercut the industry\u2019s credibility at the very moment when proponents were seeking a more prominent place for digital currencies in mainstream finance and business.His venture, they said, created a brief and highly publicized bubble that partly deflated within a few days even as Mr. Trump\u2019s family and its business partners collected millions of dollars from fees on purchases and sales of the coin.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":20828,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-20826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/20826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20826"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/20826\/revisions"}],"predecessor-version":[{"id":20829,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/20826\/revisions\/20829"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/20828"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}