Who does the Trump administration actually care about? There are clues.
On June 7, 2021, Donald Trump informed Fox Enterprise that he regarded crypto foreign money as a rip-off. A September 2024 FBI report said that fraud associated to crypto price People $5.6 billion, a rise of 45% over losses from the earlier yr.
Now, Mr. Trump says he desires the U.S. to be the crypto capital of the world. His administration has dropped a dozen circumstances and investigations of crypto firms for securities violations, fraud and commingling of funds. Mr. Trump has issued full pardons to executives who have been convicted of these violations, together with one who ran a crypto enterprise, known as the Silk Street, which facilitated gross sales of unlawful medication.
Why the change in Mr. Trump’s angle? There are hints. In September 2024, Mr. Trump and his sons helped begin World Liberty Monetary, a brand new crypto enterprise. Justin Solar, a crypto entrepreneur, helped launch the World Liberty with a $30 million funding. Solar was the topic of SEC securities fraud litigation, litigation which the Trump administration later placed on maintain.
Simply earlier than his inauguration, Mr. Trump hawked his $Trump crypto coin, quickly adopted by Mrs. Trump’s launch of her personal meme coin, $Melania. Neither of those meme cash have any intrinsic worth. There isn’t any enterprise or collateral backing them up.
The Trumps revenue from every of those ventures. None of them shall be topic to fraud prevention investigation or regulation. However, certain, Mr. Trump is looking for the working man.
Then there may be Elon Musk, who is meant to be ridding the authorities of waste and fraud. At the finish of February, Musk stated that the improve in air visitors management communications being carried out by Verizon was failing. His treatment: scrap the Verizon contract and provides the $2.4 billion price of enterprise to Starlink, an organization owned by Musk.
The $42 billion program initiated by the Biden administration to get excessive velocity web into rural areas has been paused whereas the Trump/Musk administration determines how a lot of that undertaking ought to be turned over to Musk’s Starlink. However, certain, Mr. Trump and Mr. Musk are looking for the working man.
Mr. Trump used to vilify electrical vehicles; known as them a “hoax” in 2023. Throughout his 2024 marketing campaign, he stated: “Electrical vehicles are good, when you have a towing firm.” Nonetheless, on March 11, 2025, Mr. Trump turned the White Home garden right into a automotive lot for Musk’s Tesla automobiles, and urged individuals to purchase them. Why the angle change? Effectively, final August Mr. Trump stated: “I’m for electrical vehicles. I’ve to be, as a result of Elon endorsed me very strongly,” How strongly? In response to marketing campaign finance stories, Musk gave over 1 / 4 of a billion {dollars} to the campaigns of Trump and different republicans.
So that you see, Mr. Trump is looking for the working man, if, that’s, the working man has a number of billions of {dollars} which he’s prepared to make use of to learn Mr. Trump.
