Crypto products related to Trump spark controversy in the House

Cryptocurrency products backed by former US President #DonaldTrump are becoming the target of criticism in the House, hindering discussions on digital asset regulations. Representative Maxine Waters (D-CA) expressed concern that Trump wants to funnel people's money into his digital wallet while undermining financial regulatory agencies.

During the hearing on the Digital Asset Market Transparency Act, the announcement of a new digital wallet related to Trump attracted attention. Ms. Waters estimated that the Trump family's wealth has increased by $2.9 billion thanks to his crypto projects, including NFTs, stablecoins, and DeFi projects. She also harshly criticized the exclusive dinner Trump hosted for holders of his top meme coin.

Timothy Massad, former Chairman of the Commodity Futures Trading Commission, emphasized that Trump's potential to profit from creating cryptocurrency regulations is a matter that cannot be overlooked. These controversies highlight the complexities and ethical challenges as cryptocurrency increasingly permeates politics.

Investing in cryptocurrency carries high risks due to significant price volatility. #anhbacong