Trump has normalized crypto. Is it the path to the next financial collapse? | Eduardo Porter

First publishedJul 18, 10:00 UTC

Last updatedJul 18, 10:42 UTC · 1m ago

110:00–10:01 UTC1 outletThe Guardian US

10:0010:1010:2110:3110:42

The Guardian US8Trump has normalized crypto. Is it the path to the next financial collapse? | Eduardo PorterJul 18, 10:00 UTCOpen ↗

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Cheerleading by the president, who made $1.2bn last year off uninsured currency, does not bode well for US economyThe scale of the graft is decidedly off the charts, but the revelation that Donald Trump raked in a personal fortune of $2.2bn during his first year in office should come as no surprise. The president didn’t even try to hide his venality. Not only did he refuse to sell businesses and put assets in a blind trust, as other presidents have done to limit opportunities for self-dealing; the quid pro quos with foreign governments and assorted magnates were exposed for all to see.It is troubling that the president of the United States would so nonchalantly deploy his official powers to profit from dealings with money launderers and Middle Eastern princes. It is perhaps more so that the supposedly robust checks and balances upholding American governance proved powerless to stop him.

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  Trump has normalized crypto. Is it the path to the next financial collapse? | Eduardo Porter

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  The Guardian USJul 18, 10:00

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