In a significant turnaround, former President Trump, who previously criticized cryptocurrency as overly volatile, now embraces it. His change of heart, fueled by personal investments and flattery from crypto advocates, has led him to position the U.S. as the 'crypto capital of the world.' This shift raises concerns about potential instability in the financial system due to reduced regulations on cryptocurrencies. With his family involved in crypto ventures, there are questions about who stands to benefit and the risks posed to investors and the economy as a whole.
What's less predictable is how the president's change of opinion could destabilize the American financial system.
Trump's oldest sons recently invested in a bitcoin-mining operation.
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