cryptocurrency

Bloomberg: Trump's tariff policy is definitely not beneficial for the cryptocurrency market, and the U.S. system lacks effective oversight of the president

ChainCatcher news, Bloomberg has questioned a series of actions taken by Trump in the cryptocurrency space since he took office, stating that President Trump and his entourage seem eager to establish their crypto empire. The family not only hopes to pave the way for the U.S. to support cryptocurrencies through more favorable regulations but also aims to secure a place in the positive outcomes.Based on the current (volatile) spot prices, the TRUMP holdings of entities related to Trump have an estimated book value of about $14.9 billion, with risks that are equally incredible. As token buyers and industry insiders see their opportunity to please Trump, the likelihood of quid pro quo and corruption will certainly increase. Additionally, moral hazard is also present.When Eric Trump tweeted a friendly suggestion that Ethereum is worth buying, he was by no means a neutral observer—when he removed the phrase "you can thank me later" from his post on X, he seemed to realize this. Meanwhile, the company has transferred most of its reserves to Coinbase Global Inc., and although it denied any plans to sell, it is difficult to assess what specific insider information might be involved. Trump's tariff policies are certainly not favorable to the crypto market, and the impact of Eric Trump's endorsements is similarly limited.Bloomberg believes that without effective enforcement and strengthening of regulations, oversight of the president's actions will become ineffective, and currently, Trump seems unencumbered by any constraints.
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