What is Trump’s common denominator and encryption

Since the Romans, the emperors have sealed their image on the coins. Now, as well as Donald Trump in the form of his “metal currencies”, one of the strangest handicrafts in the financing of encryption.

Also known as “altcoins” or “Shitcoins”, Mimi currencies are digital symbols that have “little value or no value or no instant and music purpose”, in the words of Investopedia. A new currency can be created with a few clicks, with its value perfectly dependent on market confidence. There is nothing literally.

Trump was strongly criticizing the cryptocurrency during his first term, but the recent procedures revealed the extent of his position. During the 2024 elections, he made a campaign On the promise To make the United States “the superpower of bitcoin in the world.” He even declared unilateral plansBitcoin strategic reservesIn March. On January 18, days before his inauguration, the president officially entered the “Shitcoin” market (now there are some words that you thought you would never read), with new coins called $ TROMP and $ Mellania, which was called the name of the first lady.

Some investors in Trump’s latest commercial project were very good. Last week, I found a series It has made 58 wallets more than a billion dollars of profits from Mimi currencies in Trump. But more people will bother their investments. Two days after the launch, the $ Tram currency was Names worth $ 73. Time to write this report, It deserves $ 14. As you expect, many who kept their reservation – last week, lost. Reported 764,000 has now lost investment.

Either way, you buy $ $ Tram ownership – if you have bought enough. Last month, Trump announced The largest 220 currency holders will be invited to a “special party” with it on May 22. This caused the value of the currency to more than 70 percent. We now find ourselves with a president who offers his name and brand to something he has It was compared With the “Punsey Plan”, his family benefits from it greatly.

As expected, this did not decrease well with Trump’s opponents. Because 80 percent of $ TROMP and $ Melania are owned by ”Entities associated with Trump‘There are accusations that companies simply buy currency to roam the effect. It is said, Trump encryption projects It now represents 40 percent of his net wealth, or $ 2.9 billion. This was set at a higher height. An Emirati investment company has announced that it will use the Trump digital currencies to treat a A $ 2 billion deal. Democratic Senate members are now seeking to ban Trump’s investments for encryption, and they tell the media that the endeavor “Corrently deep” And there was a risk of national security.

Should we condemn Trump to spend on encryption? It can be said that Mimikoin is not more surprising than his threats Canada supplement Or plan for Reopening. In many ways, the $ Trams currency is completely compatible with a character not only exploits his brand value, but also indifferent to vulgarity. Crypto resembles a giant game that players suspect strongly in being deceived, but they don’t care especially. This is simply confident exercise, the type that the president enjoys.

With consciousness or not, Jramb also takes advantage of the deep irony that many financial markets feel. Crypto has appeared in recent years with lower belief in capitalism. Large companies are operated by giant platforms and comfortable cartals, while ordinary people are still stuck with the unintentionally designed financial system 2008 crashWhich is not the real wages. Twelve percent of British adults She was involved in encryption financing, according to the UK – a sure sign of its growing popularity.

But this shadow financial system is full of crime, from stark fraud to theft. In this way, it looks like the twenties of the twentieth century, when the world also came out of a pandemic. In this contract, people were seduced in reckless financial speculation about difficult -to -understand plans, such as strange financial tools, land deals and fraud in the boiler room, which all promised with heavy returns.

Critics were criticized by critics as “financial nihilism”. But when the existing financial device has given a very little, who can blame the Purinists for trying their luck elsewhere? “” Is a way to get a rich in a meaningless world, “says Patrick Boyle, the former director of YouTube and the former von von director.

The elites may hold their pearls with horror in the rise of encryption, just as it was with the emergence of populism. The wisely response will be to provide a financial and economic system that people can buy.

Andrew Orlovsky He is a weekly column writer in Telegraph. Visit his website here. Follow it on x: Andreworowski.