Trump's Crypto Policies Sideline Everyday Users, Favoring Elite Investors
@Paul, this matter is related to industry coverage and political influence in crypto, so I’m assigning it to you.
The key event is about President Donald Trump’s crypto agenda, which is argued to favor wealthy investors and political elites through deregulation, consolidating power among a select few while sidelining everyday users and potentially using crypto for political favoritism.
To the Editor-in-Chief,
An opinion piece published by Cointelegraph on June 5, 2025, argues that President Donald Trump's cryptocurrency agenda is designed to benefit wealthy investors and political elites, rather than everyday users. The author, Elias Vilochkin, Chief Product Officer of ChangeNOW, contends that the Trump administration's push for deregulation in the crypto industry is leading to a consolidation of power among a select few.
Vilochkin highlights the Trump family's crypto venture, World Liberty Financial, as an example of this trend. He notes that the company launched its own stablecoin and digital tokens around the same time the administration began to loosen oversight of the crypto industry. Furthermore, the Department of Justice reportedly disbanded its national cryptocurrency enforcement team, which had been investigating money laundering and fraud.
The article expresses concern that Trump's public enthusiasm for digital currencies is a business strategy and that deregulation primarily benefits ventures like World Liberty Financial. It also points to the rise of "politico-coins," or cryptocurrencies linked to political figures, as a worrying trend that could be used to build centralized influence.
Vilochkin argues that this approach contradicts the original promise of cryptocurrency to provide financial sovereignty for the average person, particularly those underserved by traditional financial systems. He calls for a return to the core mission of crypto, focusing on practical applications like reducing remittance fees or providing stable digital currency options in countries with volatile local currencies.
Other reports from May 2025 indicate that President Trump's family has seen a significant increase in wealth, partly attributed to their crypto ventures, including meme coins like $TRUMP and $MELANIA, and a stake in World Liberty Financial. One report estimated that Trump's crypto holdings represented nearly 40% of his net worth, or approximately $2.9 billion. The $TRUMP meme coin, launched in January 2025, reportedly had an aggregate market value of over $27 billion shortly after its release, with Trump-owned companies holding a majority of the coins.
Paul, for your article on the recent <Market Research>, focus on the central event: the argument that President Donald Trump's cryptocurrency agenda benefits wealthy investors and political elites, as detailed in Elias Vilochkin's piece in Cointelegraph. Start by summarizing Vilochkin's key points about deregulation leading to power consolidation, particularly highlighting the Trump family's venture, World Liberty Financial, and its financial gains. Mention the disbandment of the DOJ's cryptocurrency enforcement team as a significant move towards deregulation. Emphasize the rise of "politico-coins" and the concern that these trends deviate from cryptocurrency's original goal of financial sovereignty for the average user. Keep the information concise, avoid redundancies, and ensure you clearly explain the key developments and their implications.
Title: Trump's Crypto Policies Sideline Everyday Users, Favoring Elite Investors
Summary:
- Cointelegraph analysis argues Trump's policies favor wealthy investors and political elites.
- Deregulation and "politico-coins" are central to the critique.
Article: On June 5, 2025, Cointelegraph reported that President Donald Trump's cryptocurrency policy is under fire for benefitting wealthy investors and political elites. Elias Vilochkin, Chief Product Officer of ChangeNOW, contends that the Trump administration's push for deregulation in the crypto industry is leading to a consolidation of power among a select few.
Vilochkin's opinion piece highlights World Liberty Financial, the Trump family's crypto venture, as a prime example. Around the same time the administration began to loosen oversight of the crypto industry, the company launched its own stablecoin and digital tokens. Additionally, the Department of Justice disbanded its national cryptocurrency enforcement team, which had been investigating money laundering and fraud.
The article expresses concern that Trump's public enthusiasm for digital currencies serves as a business strategy to benefit ventures like World Liberty Financial. Vilochkin also points to the rise of "politico-coins," or cryptocurrencies linked to political figures, as a troubling trend that may centralize influence in the hands of a few.
According to Vilochkin, this approach contradicts the original promise of cryptocurrency to provide financial sovereignty for the average person, especially those underserved by traditional financial systems. He calls for a return to the core mission of cryptocurrency, focusing on practical applications such as reducing remittance fees or offering stable digital currency options in countries with volatile local currencies.
Reports from May 2025 indicate that President Trump's family has seen a significant increase in wealth, partly due to their crypto ventures, including meme coins like $TRUMP and $MELANIA, and a stake in World Liberty Financial. An estimate suggests that nearly 40% of Trump's net worth, or approximately $2.9 billion, is tied to his crypto holdings. The $TRUMP meme coin, launched in January 2025, reportedly had an aggregate market value of over $27 billion shortly after its release, with Trump-owned companies holding a majority of the coins.
As of June 5, 2025, 15:10 UTC, World Liberty Financial USD (USD1) is trading at $1.00, with a 3.6% decrease in 24-hour volume, according to CoinMarketCap.