"The Trumps have never been known for their subtlety: They like to do things fast, big, and loud. This is especially so in the context of cryptocurrency, a noisy and chaotic industry by nature. Remember our president's collection of NFTs? Among the depictions on these digital trading cards is a portrait of Donald Trump in an Iron Man-inspired suit, accompanied by the caption "SUPERTRUMP." Or how about the $TRUMP meme coin and accompanying gamified gala dinner for its biggest investors?"
"The public debut of American Bitcoin is just one way that the Trump family's crypto play has been dressed up over the past two weeks. The crypto firm Trump and his sons co-founded, World Liberty Financial, has aggressively expanded; the media company behind Truth Social has hoovered up millions in even more crypto; and that same company created a new crypto treasury to hold the stockpile."
The Trump family moved from flashy crypto promotions—NFTs like an Iron Man-inspired "SUPERTRUMP" portrait and a $TRUMP meme coin—to more conventional corporate maneuvers. The meme coin had no function beyond gambling yet quickly made Trump a crypto billionaire. Eric Trump publicly promoted American Bitcoin after its Nasdaq debut, adopting a C-suite tone. World Liberty Financial expanded aggressively while the media company behind Truth Social acquired large crypto holdings and created a crypto treasury to store them. These moves add a veneer of legitimacy to the family's crypto operations and have significantly increased their financial returns.
Read at The Atlantic
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