Opinion by: Pauline Shangett, chief strategy officer at ChangeNOW
Bitcoin optimism is naturally running high. US President Donald Trump’s trade agreement with the UK has provided a jolt of confidence in global markets, and Bitcoin (BTC), as the ultimate borderless asset, is reaping the benefits.
Unfolding behind the Trump administration’s aggressive push to deregulate the crypto industry, however, is a consolidation of power that favors the few while ignoring the many.
Cryptocurrency was designed for the everyday person — those who had had enough of opaque financial systems that prioritize profit over the interest of the people. Bitcoin emerged from the ashes of the 2008 financial crisis as a radical experiment in financial sovereignty, not an exercise in empowering hedge funds and political elites.
That’s exactly what’s happening. Trump’s administration has taken steps to rapidly deregulate the industry behind a crypto-friendly agenda. His family’s crypto venture, World Liberty Financial, is a clear example. With direct ties to Trump’s sons, WLF launched its own stablecoin and digital tokens just as the administration began loosening oversight. At the same time, the Department of Justice disbanded its national cryptocurrency enforcement team, scrapping investigations that once targeted money laundering and fraud.
From financial freedom to political favoritism
Watchdogs and critics are raising alarms about conflicts of interest. Trump’s public enthusiasm for digital currencies is a business strategy. His administration’s aggressive deregulation benefits WLF and others like it, insulating them from scrutiny while they expand their financial reach.
What’s worse is the politicization of crypto itself. Coins linked to political figures, like Trump, are flooding the market. The rally around these so-called “politico-coins” concerns loyalty and influence. There’s growing concern that political actors leverage crypto to build new forms of centralized influence.
Related: Trump family’s company cuts stake in World Liberty Financial by 20% — Report
Trump’s administration has painted itself as the great liberator of blockchain, but the final result looks more like capitalism, with the promise of financial empowerment being overshadowed by speculative gains. World Liberty Financial, flush with new capital, charges ahead while everyday investors are left navigating a landscape designed to keep them at a disadvantage. Everyone is receiving…
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