Walter Shaub, former head of the Office of Government Ethics, criticized Trump’s open and extreme corruption, especially concerning his financial dealings with a personal cryptocurrency launched shortly before he took office. Shaub stated that the essence of government ethics has been lost. Richard Painter, a law professor, added that allowing national leaders who regulate financial instruments to invest in them poses significant risks, emphasizing that no precedent exists for a head of state to launch a personal cryptocurrency. The current situation illustrates a troubling shift in government ethics.
Trump's corruption and naked profiteering is so open, extreme and pervasive this time around that to comment on any one aspect of it would be to lose the forest for the trees. The very idea of government ethics is now a smoldering crater.
I believe it is very dangerous to have the people who are supposed to oversee regulating financial instruments investing in them at the same time. There's no precedent for a head of state to launch a personal cryptocurrency.
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