Cripto was already in a bad smell before jumping to bed with a tray. Now smells up

One problem faced the cryptocurri promoters, because the property class first appeared that his reputation stinks.

Cripto Trading is identified regulators and In the public mind As a haven for fraud, theft and other forms of sharp practice. FBI, in its last Annual cryptocurrency reportHe discovered that the scam was associated with the crypt. Crime is “Pastiming” on the field, the Agency warned.

An elusive use of crattiful funds seemed to be narrowed to facilitate criminal fraud, redemption attackers, drugs and human trafficking.

Trumps cryptocurnent ventures are nothing but a fig list for the payment of foreign nationals.

Sen. Richard Blumenthal (D-Conn.)

Then Donald Trump came. During the presidential campaign and after his choices, cryptic promoters thought they entered Nirvana officially recognized legitimacy.

Trump signaled that the government regulatory initiatives on CRIPTO will end “to promote the leadership of the United States in digital property and financial technology, while protected economic freedom”, in order to quote Executive order issued 23. JanuaryEffective deletion of federal class regulations.

Things are not done as they hoped. Since Trump returned to the Presidency, his family contracts in CRIPTO agreements, charging critics that crypto became a brand new way for official corruption and conflict of interest in the White House.

“Trump cryptocurrencing an endeavor is nothing but a fig list for disbursements of foreign nationals and foreign governments”, ” Sen. Richard Blumenthal (D-Conn.) Tweeted 7. May. The goal of Blumenthala was an offer Private seating dinner with trump scheduled for 22. Maja in his Golf Club Virginia and Personal Tour White House for the largest Coopers from Trump, “Memecoin” Asdiviously promote Trump And his family.

The price of a coin is a hall at about $ 74 at 19. January, the day before the inauguration trends. He immediately fell worthy, although his price was affected by the offer of dinner and tour; The Last quotes Set it to about $ 13. Top 220 holder Trump’s coins who are entitled to dinner, spent almost $ 148 million for privileges, according to Reuters Estimation.

Read more: Hirtique: embarrassment, suicide attempts, ‘financial death’ – devastating Toll Failure of the CRIPTO company

More than half of the largest owners Foreign entities appear to beAccording to Bloomberg analysis. This implies that the purchase could be designed to bypassed federal laws that prohibit foreigners to make political contributions in the USA

Democratic sensum. Adam Schiff of California and Elizabeth Varren from Massachusetts demanded that the Federal Office of Government Ethics, an independent executive government agency, open the investigation “Severe risk that President Trump and other officials can be Involvement in Corruption ‘Pay to Play’ By selling the presidential approach to individuals or entities, the inclusion of foreign nationals and corporate actors with interests in federal action, and personally enrich the president and his family. “

Dvf, a cropto company based in the United Arab Emirates, announced last month that she had Bought $ 25 million in coins He released Trump-associated company free freedom, partly to “improve regulatory engagement with American policy makers.” Freight technologies, Houston logistics company, announced 30. April that she had borrowed $ 20 million to buy Trump CoinsCalling the transaction “An effective way to advocate for a fair, balanced and free trade between Mexico and the United States.”

Neoplion spread to Republicans on Capitol Hill, fearing that the CRIPTO offers Trump to undermine their efforts to bring cryptal regulations.

“This gives me a break,” Sen said. Cynthia Lummis (R-Vio.), Leader in the legislative movement to pass the pro-crypto law, said NBC News. “Even what seems to be” Skrnic “in terms of Meme coins, it’s legal, and what we need to do is that we make it clearer, so we don’t have this wild Western scenario.”

Trump activities have already shoved, if temporarily, the so-called Genius ACT, which would regulate the form of cryptocurries known as “Stablecoins”, which are allegedly imagined at the value of basic currencies, such as the value of the basic currency. Schiff and eight other shadows of democrats supported by measure It is inserted on itThe passage in its current form is practically impossible.

Democrats in both chambers have introduced “End Crypto Corrupt Act” What would be the president of the President, Vice-President, members of the Congress and at a high level of executive branch of issuing, sponsoring, of any “cryptocurnost, meme, token, token, non-fungal token, stablecoin or other digital asset sold.”

Even some crypto promoters are not happier than politicians. “They are plumbing New depths of idiosity With Memecoin starting, “said Nic Carter, crypto investor and trump, he said to politics.

As a cripto category, memecoins is also crucial and many participants in the field. They mostly have even less weight or authenticity from cryptocurries in the main guilt, often come as jokes of investment and driving waves of pure hyper. The Trump coin does not have a slight value except its identification with the trump card.

I asked a white house for comments to corruption accusations and received this response from the Carolina Leavitt spokesman: “President Trump is in line with all the rules of the conflict and only acts in the best interest of the American public.”

Memecoin is not only an endeavor only in connection with the cry, although some of its arrangements make it designed to give him credible killed if legal or ethical issues are set. World Freedom Financial, which market markets Crypto tokens marked $ WLFI and StaBlecoin specified USD1 60% owned by Trump and members of his family, eligible to 75% of $ vlfi sales revenue.

The company’s website contains a picture of Trump in the heroic position and says that VLFI token is “inspired by Donald J. Trump.” In small printing, however, that “any references or quotes or images attribute or associated with Donald J. Trump or members of his families should not be interpreted as approval or representation or guarantee”.

Cripto investors really stepped on a plate with political donations during the electoral cycle from 2024. Years. FAIRSHAKE, Super Pac that represents the class, They spent almost $ 41 million in contributions. It included $ 13 million to defeat two candidates for congresses in democratic primary, tail. Katie Porter (D-Irvine) and the tail. Jamaal Bowman (D-New York). They both used to favor the strict regulation of the property class, and both of them lost their races.

The largest crypto firms are conducted prophecally in 2023. and 2024. To collect more than $ 162 million at the time; The coins contributed $ 46.5 million, varival laboratories, $ 45 million and andreeshen chorowitz, the main crypto investor, $ 44 million. A large part of the total of a total of two more committees for political actions related to the crypto in relation to the Federal Election Records.

After the election, many companies, such as traditional companies, have contributed to a million dollars or more Trump’s inaugural fund.

It is difficult to deny that the CRIPTO camp has so far received its money worth from the Trump administration. Securities and exchanges commission dropped or delayed more than a dozen execution cases Against breaking, wait, twin, Kraken and other cropto promoters.

The biggest victory is likely to belong to coinbazi, the largest cropto trading platforms in the US SEC 2023. She charged with the company with the guidance of illegal trading exchange and marketing unregistered securities. The case reflected the position of the SEC that they are in which the company marketing different name should be registered as securities as customers and sellers receive the same legal protection as well as investors for supplies and bonds.

Read more: HILTZIK: Most Americans have a negative view of the CRIPTO. So why are political campaigns rushing to accept it?

The Federal Judge in New York cleared the executive action for progress in 2024. years, after that SEC made a credible case that the waitress worked illegally. Momentarily dropped the case In February. Coins claimed that SEC was wrong “about facts and law”, and yes “the case should never be submitted in the first place.”

Earlier this month, the agency settled its case against Ripple, charged by 2020. Years Raised $ 1.3 billion via unregistered securities. As part of the settlement, Sex agreed to Back to Ripple $ 75 million from a $ 125 million sentence held in Escrow. The settlement has caused Amazed Registration Commissioner Caroline A. CrenshavA member of the Democratic Minority of the Commission.

Crenshaw mentioned that the agreement was part of the efficient leaving crypto crypting. “This settlement, in addition to the program dismantling of the Security Program, the CRIPTO efficient, makes a huge disproportion of investment in public,” she wrote.

It will not be the end of a deregulation plant. 7. April, Deputy Lawyer. General Todd Blanche – who was Trump counsel in New York criminals resulting in guilty judgments at 34 proceedings for falsification of business records – ordered the end of the desperate preset at the end of justice based on the interpretation of cryptic funds as a securities or goods. It closed the government’s main regulatory initiative against crypto promoters.

The Blanche directed the Land market integrity and the chief deception unit to “stop carrying cryptocurnost” and disbanded the National Cryptocurrency team “Efficient immediately”.

There does not appear to be a sign that trump will slow down with the cry even while the government’s regulatory capacity is disabled through the crypto endeavor.

World Freedom Financial recently announced that Abu Dhabi would use his stablecoin to invest $ 2 billion binance, multinational firm crypto He admitted guilt and paid a $ 4.3 billion sentence 2023 on financial crimes charges, including money laundering. The Chief Executive Director of Binance, Changpeng Zhao, also pleaded guilty and spent four months in American prison.

Last month, SEC put his civic case against binance On hold for at least 60 days.

On its own investor advice website, SEC used to set a warning on its CRIPTO site. “Trendy investments are especially mature for fraud, so be aware that there is an actual risk of fraud,” it was said. “Cryptocurrencies can be today’s great, new opportunity, but there are serious risks.”

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This story originally appeared Los Angeles Times.