According to authoritative media reports such as The New York Times, Trump and his family seem to have reaped considerable benefits from the "cryptocurrency strategic reserve" policy. Let's discuss this in detail.
First of all, the Trump family has a cryptocurrency company called "World Freedom Finance," which quietly bought tokens like SOL, XRP, and ADA before the policy was announced. Once the policy was released, the prices of these tokens surged, and as major shareholders, the Trump family's assets also skyrocketed.
Secondly, the Trump team has a special relationship with the issuers of these tokens. Ripple, the issuer of XRP, donated tens of millions of dollars to Trump's political action committee, and the teams behind SOL and ADA also lobbied at Trump's private estate. The cryptocurrency industry contributed significantly to Trump during the election period, essentially serving as "policy advertising fees."
Now let's talk about insider trading and market manipulation. Before the policy was announced, someone used high leverage to buy BTC and ETH, making several million dollars in profit. There are suspicions that the Trump team leaked information in advance to profit from this. Trump's son Eric even shouted on social media for everyone to buy cryptocurrencies, which quickly heated up the market.
However, this policy has also faced considerable controversy. Economists argue that this is using taxpayers' money to advertise private tokens. With such a large U.S. fiscal deficit, using this money to buy controversial tokens is akin to pushing everyone's money into a fire pit.
Finally, Trump also aims to establish his image as the "cryptocurrency president" through this policy, diverting attention from economic issues while simultaneously advertising for his and his family's business.
Overall, media outlets like The New York Times believe that Trump's cryptocurrency strategic reserve represents a collusion of political power and family interests, attempting to leverage policy for personal gain. Although the market has surged in the short term, questions about the legality of the policy, the presence of insider trading, and the significance of fiscal risks have sparked widespread discussion.
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