According to Cointelegraph, U.S. President Trump’s trade agreement with the UK boosted global market confidence, benefiting Bitcoin. However, the Trump administration's deregulation of the cryptocurrency industry has raised concerns about power concentration.
Cryptocurrency was designed for ordinary people, but the Trump administration's policies seem to favor a small elite. The Trump family's cryptocurrency venture, World Liberty Financial, launched a stablecoin, benefiting from deregulation.
Critics warn that Trump's enthusiasm for cryptocurrency is a business strategy, and the influx of 'political coins' associated with politicians could lead to a new concentration of power.
The Trump administration claims to be the liberators of blockchain, but the outcome resembles capitalism, putting ordinary investors at a disadvantage. The unbanked need a true financial revolution, not politicized cryptocurrency.