- Donald Trump is openly promoting and profiting from a personal cryptocurrency coin while in office.
- The coin enables individuals, including some from overseas, to directly pay Trump and attend private events.
- His family has reportedly gained over $320 million from the coin ahead of a new project launch called World Liberty Financial.
- Past bipartisan concerns over Trump‘s financial dealings have faded, with more direct and larger financial exchanges now occurring.
- Oversight bodies and party members have largely allowed these activities to continue, raising questions about standards on political ethics.
Donald Trump launched a cryptocurrency coin and has been openly promoting it while serving as president. This coin allows people, including overseas attendees, to directly pay him and participate in private events at his Virginia golf club.
Hundreds of people have spent significant amounts to attend these dinners, with the aim of interacting directly with Trump. According to reports, fees alone from the coin have brought more than $320 million to his family, as preparations continue for the World Liberty Financial crypto project.
Many attendees have told reporters that they paid to join the events specifically to gain access to Trump or influence his position. The coin is part of an industry that remains largely unregulated, allowing these direct payments to bypass traditional restrictions. This development comes as Trump’s administration is responsible for overseeing the crypto sector.
Earlier in his presidency, there was widespread concern from both parties about foreign officials spending heavily at Trump’s hotels and properties. The recent activities have now gone beyond such transactions, expanding to direct financial contributions through his cryptocurrency. In comparison, investigations into allegations against former President Joe Biden and his son Hunter did not find significant evidence of profits linked to Biden’s office.
“It’s almost hard to blame Trump himself for all this, given that he’s been open and upfront his entire life about the fact that he sees the world purely in transactional terms,” the article notes. Oversight bodies have not taken action on these open financial dealings. Members of Trump’s party have continued to support him, despite the open nature of the transactions.
Recent activities reveal that it is now common for gifts such as a $400 million private jet to be donated from a foreign government to Trump’s personal foundation, a move he has publicly called smart. These direct gifts and payments highlight a shift from previous methods of self-dealing.
The situation has led to discussions about the effectiveness of current oversight and the application of ethics standards in government. Activities that were once considered unusual are now occurring openly, with little official resistance.
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