Ethics Experts Slam Trump’s Crypto Policy and New Venture with Family
- Experts have raised concerns about Donald Trump’s family’s involvement with crypto.
- The development came after Trump and his eldest sons promoted an upcoming crypto project.
- Given Trump’s pro-crypto stance, experts said the business presented a conflict of interest.
Ethics experts and government transparency watchdogs have raised concerns about Donald Trump ’s crypto-friendly stance and recent public support for his sons’ forthcoming digital asset startup.
The 2024 presidential hopeful has lately taken several actions to align himself with the tech-savvy crypto community in a bid to win votes and amass a campaign war chest through donations. At the same time, his eldest sons Eric Trump and Donald Trump Jr. are reportedly gearing up to launch a new decentralized finance (DeFi) platform called World Liberty Financial.
Experts Raise Concerns About Trump’s Crypto Business
While Eric Trump and Donald Trump Jr. are yet to disclose how the new crypto venture will operate, and whether it will be affiliated with the Trump Organization, experts warn that the business would benefit if the former president’s next administration implements pro-crypto policies.
Sponsored
John P. Pelissero, the director of government ethics at Santa Clara University’s Markkula Center for Applied Ethics said in a recent Politico report that the venture creates a possible conflict of interest.
“This does present a strong possibility of a conflict of interest,” Pelissero stated. “Doing anything to promote crypto so it might benefit his sons’ future business is a problem.”Ishan Mehta, director for media and democracy at Common Cause shared the same sentiments, stating that Trump’s move to promise crypto-friendly policies and have his family engage in the same business was “conflict of interest 101.”
The concerns followed Trump’s recent post on X, which appeared to promote the World Liberty Financial crypto project. The former president used audio from his previous speech at Bitcoin 2024 in Nashville, where he highlighted crypto-friendly policy plans and promised to end “the Biden-Harris administration’s repression of crypto.”
Per the report, Trump’s campaign spokesperson Steven Cheung dismissed the concerns, noting in a statement that ethics watchdog advocates “are led by Democrat donors and partisans who clearly suffer from Trump Derangement Syndrome.”
Read about Donald Trump’s fourth NFT collection:
Donald Trump Debuts Fourth Collection of Digital Trading Card NFTs
Stay updated on Trump’s vow to make the U.S. a “crypto capital”:
Trump Pledges “Crypto Capital” Status for the U.S. if Elected
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum L2 Linea Unveils Token Plans with New Non-Profit: What We Know
Why Ethereum’s Beam Chain Needs to Take Five Years
Top 4 Altcoins That Dominate the Crypto Market with Explosive Gains
US Senate Republicans pick pro-crypto John Thune as their next leader
Share link:In this post: Senate Republicans chose pro-crypto John Thune as their new leader, replacing Mitch McConnell after 18 years. Thune’s pro-free trade stance puts him at odds with Trump, especially on tariffs, which he warned could lead to inflation. Known for his support of crypto legislation, Thune co-sponsored the Digital Commodities Consumer Protection Act to bring clear regulation to the industry.
Trending news
MoreCrypto prices
More
