Trump Vows to Protect the Family Businesses: Crypto and Prediction Markets
President Trump has expressed his intention to protect the prediction and cryptocurrency markets in a recent Truth Social post. Despite previously labeling crypto as a scam, he has significant personal investments in both sectors, including businesses he has created. His adult sons are also involved in these markets, raising concerns about potential conflicts of interest.
- ▪Trump's businesses have invested heavily in Bitcoin, contributing to significant financial losses for Truth Social's parent company.
- ▪He has created multiple crypto businesses, including World Liberty Financial and the $TRUMP meme coin.
- ▪Trump's adult sons are actively involved in the crypto and prediction markets, with Eric Trump operating a Bitcoin mining company.
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freestar.config.enabled_slots.push({ placementName: "motherjones_right_rail_1", slotId: "ROS_ATF_300x600" }); Businesses Trump owns have invested heavily in Bitcoin—one reason that Truth Social's parent firm has lost more than $1 billion in its short life.AP Photo/Jacquelyn Martin Get your news from a source that’s not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily. In a Truth Social post Wednesday, President Trump typed out a lengthy paragraph on the necessity of protecting the prediction and crypto markets, taking the opportunity to label a slew of Democrats “scum,” call the US the crypto capital of the world, and claim prediction markets are a new form of financial market. He didn’t say that he and his family are heavily invested in both sectors.
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