It ain’t been a great year for crypto…
Bitcoin is down 35%… and other coins have suffered larger losses.
But you know who hasn’t suffered losses?
The Trump Family
Because they made over $1 billion in the past 12 months from their crypto ventures alone.
Now remember, this was the most pro-crypto friendly administration in history
(Or at least, that’s what they claimed)
The election results alone saw Bitcoin surge over $100,000 for the first time.
But it’s been a disaster ever since…
First you had the Trump memecoin. Which at the time I derided as being a terrible use of executive power. And arguably the worst way to try and onboard people into the space.
Well seeing as the coin is down 97% from launch… I think it’s fair to say I nailed that one.
But even as countless people lost money from The Official Trump Memecoin… the Trump family pocketed $635 million in royalties. Plus another $500 million from their second failed crypto project World Liberty Financial.
And I have to call this stuff out.
Because it’s a terrible use of power.
Personal enrichment at the expense of your electoral base.
It has to stop, because this is the kind of thing that is slowly killing crypto as an industry.
For what it’s worth, because a number of you have asked… I haven’t sold any of my crypto… and I am still very bullish on Bitcoin long term.
And I promise you this, you won’t be seeing any self dealing or Freeman memecoins on my part.
Oliver