Trump’s embrace of Bitcoin is the art of the grift
More cryptocurrency in politics is the last thing we need
Add BT as a preferred source
FINANCIAL bubbles are inherently political. John Law’s doomed pumping of Mississippi Company stock in 18th-century France came with the state’s blessing. Deregulation also helped fuel Japan’s 1980s market boom.
More recently, Sam Bankman-Fried (SBF), the frizzy-haired mogul jailed for his role in cryptocurrency exchange FTX’s collapse, was accused by prosecutors of using over US$100 million in stolen money to fund his lobbying efforts.
When the good times roll, politicians rarely want to stand in the way. Which is why nobody should be surprised or relaxed about crypto’s political comeback after its last boom-and-bust cycle, with Donald Trump leading the charge.
TRENDING NOW
Indonesian court upholds earlier dismissal of 2.28 trillion rupiah claim on Keppel unit’s land
Xi Jinping has just rewritten the rules of US-China rivalry
Wilmar, Musim Mas among palm-oil firms in Indonesia under probe for suspected export under-invoicing
China traders rush for exit after cross-border flow crackdown
