According to Cointelegraph, President Trump’s trade agreements with the UK boosted global market confidence, benefiting Bitcoin. However, the Trump administration's deregulation of the cryptocurrency industry has raised concerns about concentration of power.
Cryptocurrency was designed for ordinary people, but the Trump administration's policies seem to favor a select few elites. The Trump family's cryptocurrency venture, World Liberty Financial, launched a stablecoin, and deregulation has benefited it.
Critics warn that Trump's enthusiasm for cryptocurrency is a business strategy, with the influx of 'political coins' associated with politicians into the market potentially leading to new concentrations of power.
The Trump administration claims to be a liberator of blockchain, but the outcome resembles capitalism, putting ordinary investors at a disadvantage. The unbanked need a real financial revolution, not politicized cryptocurrency.