{"id":1999,"date":"2025-01-25T12:03:17","date_gmt":"2025-01-25T12:03:17","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/"},"modified":"2025-01-25T12:03:17","modified_gmt":"2025-01-25T12:03:17","slug":"trumps-crypto-venture-divides-the-industry-he-aims-to-support","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/","title":{"rendered":"Trump\u2019s Crypto Venture Divides the Industry He Aims to Support"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Dressed in ball gowns, tuxedos and <a class=\"css-yywogo\" href=\"https:\/\/fortune.com\/crypto\/2025\/01\/19\/inside-the-first-crypto-ball-snoop-the-treasury-secretary-and-a-70-billion-memecoin-surprise-from-trump\/\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">\u201cMake Bitcoin Great Again\u201d<\/a> baseball caps, a crowd of some of the country\u2019s most powerful cryptocurrency executives gathered a few blocks from the White House for a lavish party three days before President Trump\u2019s inauguration, toasting an incoming administration that had vowed to promote the industry\u2019s interests.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Even Snoop Dogg joined the festivities, offering a <a class=\"css-yywogo\" href=\"https:\/\/x.com\/rorytait\/status\/1880505847891259543\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">rendition<\/a> of \u201cDon\u2019t Stop Believin.\u2019\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But the crypto millionaires and billionaires were caught off guard by what happened next.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">At 9 p.m. on Jan. 17, with the festivities in full swing, Mr. Trump <a class=\"css-yywogo\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/113846888132979151\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">announced<\/a> on social media that he was launching a new cryptocurrency \u2014 a so-called <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/07\/27\/technology\/memecoins-crypto-surge.html\" title=\"\">memecoin<\/a> known simply as $Trump.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The surprise disclosure raised fresh ethics and legal concerns about the ways in which Mr. Trump continues to cash in on his power and fame, in this case by marketing a digital asset in an inherently volatile and speculative market to millions of his followers.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">And it set off a wave of criticism from inside the industry that he says he wants to champion.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Crypto executives criticized the move as a cash grab, saying that Mr. Trump had undercut the industry\u2019s credibility at the very moment when proponents were seeking a more prominent place for digital currencies in mainstream finance and business.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">His venture, they said, created a brief and highly publicized bubble that partly deflated within a few days even as Mr. Trump\u2019s<span class=\"css-8l6xbc evw5hdy0\">  <\/span>family and its business partners collected millions of dollars from fees on<span class=\"css-8l6xbc evw5hdy0\">  <\/span>purchases and sales of the coin.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cIt makes it all look corrupt and self-interested,\u201d said Nic Carter, a vocal supporter of Mr. Trump who runs the crypto investment firm Castle Island Ventures and was at the Crypto Ball as the new $Trump coin was announced.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-2\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">An <a class=\"css-yywogo\" href=\"https:\/\/x.com\/chainalysis\/status\/1882211312681251120\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">analysis<\/a> by the crypto forensics company Chainalysis showed that the majority of people who bought $Trump were likely inexperienced retail investors, possibly dabbling in crypto for the first time. These traders \u201croughly broke even,\u201d the analysis said, though more than 100,000 of them lost money.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-3\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Yet by one estimate, the launch of $Trump <a class=\"css-yywogo\" href=\"https:\/\/x.com\/jconorgrogan\/status\/1880727916184736235\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">generated<\/a> $58 million in fees for the Trump family in less than a day. As of Friday night, the family also owns, at least on paper, $23 billion worth of $Trump at its $29 price \u2014 already a 60 percent drop from the peak. That price would crash even further if the family did a so-called rug pull and moved to rapidly sell off its holdings.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Asked about the coin\u2019s launch on Tuesday at the White House, Mr. Trump said, \u201cI don\u2019t know much about it.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But even after the inauguration, he continued to repost the celebratory announcement of the $Trump token \u2014 effectively urging more people to buy the coin after its price collapsed.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Ryan Selkis, a crypto entrepreneur who was one of the president\u2019s earliest supporters in the industry, said on social media that the memecoin episode <a class=\"css-yywogo\" href=\"https:\/\/x.com\/twobitidiot\/status\/1881106291445449215\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">would cost<\/a> the Trump administration \u201ca lot of $ and goodwill.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cTrump needs to fire his crypto advisors, from top to bottom and replace with people who know what they are doing,\u201d another crypto executive, Gabor Gurbacs, <a class=\"css-yywogo\" href=\"https:\/\/x.com\/gaborgurbacs\/status\/1881142513018572927\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">wrote on X<\/a> after the coin\u2019s price plummeted.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-4\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">The memecoin launch was the first time the Trump family had issued a digital currency that any investor could buy or sell on crypto exchanges. But the plan, one Trump Organization executive said, grew out of an earlier effort organized in part by Bill Zanker, a serial entrepreneur and friend of Mr. Trump\u2019s who has previously sold back rubs, gym equipment and self-help courses.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-5\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Mr. Zanker and the Trump family began <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2022\/12\/15\/us\/politics\/trump-nft-trading-cards-superhero.html\" title=\"\">selling $99 digital trading cards<\/a> in 2022 depicting Mr. Trump as a superhero in a crypto-based format known as a nonfungible token, or NFT.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But NFTs, at least in theory, serve as digital artwork or collectibles, whereas the Trump token was treated by buyers more like GameStop shares, the so-called meme stock that many amateur traders bought in recent years in hopes of earning a quick profit.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">A onetime crypto skeptic, Mr. Trump embraced the industry on the campaign trail last year, promising to end the Biden administration\u2019s regulatory crackdown on crypto firms.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-6\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">\u201cWe\u2019re going to make a lot of money for the country,\u201d Mr. Trump said on Thursday as he signed an executive order at the White House pledging to promote the crypto industry. <\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-7\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">It\u2019s a business in which Mr. Trump has a substantial personal stake. In September, he and his sons helped start <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/09\/16\/technology\/trump-crypto-world-liberty-financial.html\" title=\"\">World Liberty Financial<\/a>, a company designed to facilitate borrowing and lending in digital currencies.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">And since his election victory, Mr. Trump has made a series of personnel selections at regulatory agencies that seem poised to help the industry.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In an interview on Friday, Eric Trump, the president\u2019s middle son, dismissed criticism of the decision to release the $Trump tokens and questions about whether it was a conflict of interest for the Trump family to be introducing its own digital currency while President Trump is appointing financial regulators.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-8\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">\u201cThe $Trump trading card and World Liberty Financial are two of the most successful projects in crypto history,\u201d he said.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The Crypto Ball was promoted as a celebration of the industry\u2019s political success \u2014 the sort of party that crypto enthusiasts usually throw on yachts and beaches, just transplanted to an auditorium a 15-minute walk from the White House.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">It was also an opportunity for top crypto executives to network with some of the most influential figures in Washington. Fred Thiel, the chief executive of the Bitcoin mining firm Marathon Digital Holdings, chatted with House Speaker Mike Johnson, who sent a text to President Trump right in front of him. \u201cEveryone was very pumped,\u201d Mr. Thiel said in an interview.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But it turned out the most important action in the crypto market was happening on social media. \u201cTrump Meme is HERE!\u201d Mr. Trump wrote on Truth Social and X as Snoop Dogg took the stage. \u201cIt\u2019s time to celebrate everything we stand for: WINNING!\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Proponents of digital currencies say they can grow into a widely used means of exchange, allowing instant transfers of wealth efficiently and privately, outside the traditional banking system. <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/07\/27\/technology\/memecoins-crypto-surge.html\" title=\"\">Memecoins<\/a>, a type of digital currency based on a joke or a celebrity mascot, are controversial in the crypto world. They have no practical utility and are often deployed in pump-and-dump schemes or other scams.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-9\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">But traders with good instincts can generate quick profits \u2014 if they buy quickly as the price is rising and then sell their holdings before earlier buyers cash out.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Josh Bailey, a crypto trader in Austin, Texas, saw Mr. Trump\u2019s announcement almost immediately after it was posted. At first, he wasn\u2019t sure if it was real. \u201cThe president of the United States launching a memecoin,\u201d Mr. Bailey said. \u201cI was not expecting that.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Soon the coin\u2019s price was surging. Within a few hours, the total value of all the $Trump in circulation was more than $5 billion. Mr. Bailey decided to put in $12,000. By the time he cashed out, his trove had more than quintupled in value.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">By Sunday morning, Mr. Trump\u2019s coin was among the most valuable cryptocurrencies in the world, and his partnership\u2019s holdings were <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/01\/19\/us\/politics\/trump-cryptocurrency-surges.html\" title=\"\">worth more<\/a> than $50 billion on paper. A business entity controlled by Trump Organization and its partners owned 80 percent of the coins and collected fees as the coins were traded.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Eric Trump, in a social media post, hailed the new investment as <a class=\"css-yywogo\" href=\"https:\/\/x.com\/EricTrump\/status\/1880670273768435759\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">\u201cthe hottest digital meme on earth.\u201d<\/a><\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-10\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Already, though, Mr. Trump\u2019s crypto supporters were growing frustrated. Many of the people who attended the Crypto Ball were effectively cut out of the moneymaking opportunity, unable to buy the coin early enough to profit because they were out partying rather than online.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cI\u2019m legitimately heated about it,\u201d Mr. Carter said. \u201cWhy wouldn\u2019t they just do an announcement over the speakers?\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-11\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Then, on Sunday afternoon, a post appeared on <a class=\"css-yywogo\" href=\"https:\/\/x.com\/MELANIATRUMP\/status\/1881094861279129643\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">Melania Trump\u2019s X account<\/a>: She was launching a memecoin of her own, essentially creating a competitor in the market. The price of $Trump plummeted by 60 percent over the next day. <\/p>\n<p class=\"css-at9mc1 evys1bk0\">Suddenly, the industry\u2019s enthusiasm for Mr. Trump turned to fury.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Justin Bons, a crypto executive, <a class=\"css-yywogo\" href=\"https:\/\/x.com\/Justin_Bons\/status\/1881387140497772981\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">said<\/a> the back-to-back memecoin announcements were \u201cnothing more than blatant money grabs.\u201d Another trader <a class=\"css-yywogo\" href=\"https:\/\/x.com\/Ashcryptoreal\/status\/1881098937517609034\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">said<\/a> he was \u201cmissing Gary Gensler right now,\u201d a reference to the former Securities and Exchange Commission chair who filed numerous lawsuits against crypto companies.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-12\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">The new Trump token also quickly generated legal questions, centering on whether it constituted a security and should have been subject to federal disclosure and registration requirements.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The $Melania tokens \u201care digital collectibles,\u201d the <a class=\"css-yywogo\" href=\"https:\/\/melaniameme.com\/\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">family said as it<\/a> announced the offering, \u201cnot intended to be, or to be the subject of, an investment opportunity.\u201d But trading patterns show that this was not how buyers treated these tokens \u2014 buying and selling them in most cases in an effort to make money.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">During the Biden administration, the S.E.C. under Mr. Gensler adopted an aggressive posture toward cryptocurrencies, arguing that the vast majority of them were securities that should be closely regulated.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In 2023, the S.E.C. <a class=\"css-yywogo\" href=\"https:\/\/www.sec.gov\/files\/litigation\/admin\/2023\/33-11233.pdf\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">accused the backers of a cartoon NFT series called<\/a> Stoner Cats of selling an unregistered security after the images were marketed in a way that \u201cled investors reasonably to expect to profit from the managerial and entrepreneurial efforts of\u201d the backers. <\/p>\n<p class=\"css-at9mc1 evys1bk0\">Allison Herren Lee, a former S.E.C. commissioner, said that during her tenure the new Trump-family coins would certainly have generated a staff review to evaluate if they complied with the law.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-13\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">\u201cThat analysis does not turn on whether the promoters call it a security,\u201d she said. \u201cIt turns on whether it\u2019s marketed as an investment, meaning generally that purchasers will get a return based on the efforts of others.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Democrats in Congress, including Senator Elizabeth Warren of Massachusetts, have already <a class=\"css-yywogo\" href=\"https:\/\/static01.nyt.com\/newsgraphics\/documenttools\/e9a106040d2c3c77\/e8037141-full.pdf\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">written<\/a> a letter to federal regulators asking them to investigate the matter.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But opening such an inquiry now would effectively require the S.E.C. to investigate the family of a president who just nominated the agency\u2019s chairman \u2014 an experienced securities lawyer with <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/12\/04\/business\/trump-sec-paul-atkins.html\" title=\"\">close ties<\/a> to the crypto industry.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">David Sacks, a venture capitalist whom Trump appointed to oversee his administration\u2019s tech policy, said this week that the coin was \u201clike a baseball card or a stamp\u201d and \u201ctotally fine\u201d to sell.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">It is already clear that some of the buyers of the $Trump token jumped too slowly and ended up losing money. During one series of trades, an investor using the pseudonym Ansem spent $9 million in cryptocurrency to buy $Trump just before it fell in value, and then <a class=\"css-yywogo\" href=\"https:\/\/x.com\/lookonchain\/status\/1881528883079709134\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">sold the holdings<\/a> two hours later at a roughly $2 million loss, according to public transaction records first identified by an account called Lookonchain. <\/p>\n<p class=\"css-at9mc1 evys1bk0\">Still, over the next few days, the Ansem account continued trading $Trump, the records show, perhaps in hope of making up the loss.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/2025\/01\/25\/us\/politics\/trumps-crypto-venture-divides-the-industry-he-aims-to-support.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dressed in ball gowns, tuxedos and \u201cMake Bitcoin Great Again\u201d baseball caps, a crowd of some of the country\u2019s most<\/p>\n","protected":false},"author":1,"featured_media":2000,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[281,114,279,126,132,113,111,176,280],"class_list":["post-1999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us","tag-bill","tag-donald-j","tag-eric-f-1984","tag-melania","tag-presidential-election-of-2024","tag-trump","tag-united-states-politics-and-government","tag-virtual-currency","tag-zanker"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump\u2019s Crypto Venture Divides the Industry He Aims to Support - World News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump\u2019s Crypto Venture Divides the Industry He Aims to Support - World News\" \/>\n<meta property=\"og:description\" content=\"Dressed in ball gowns, tuxedos and \u201cMake Bitcoin Great Again\u201d baseball caps, a crowd of some of the country\u2019s most\" \/>\n<meta property=\"og:url\" content=\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/\" \/>\n<meta property=\"og:site_name\" content=\"World News\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-25T12:03:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg\" \/>\n<meta name=\"author\" content=\"News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/\"},\"author\":{\"name\":\"News\",\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/#\/schema\/person\/1d8ae7348e048cb7984f26b4dd818ff2\"},\"headline\":\"Trump\u2019s Crypto Venture Divides the Industry He Aims to Support\",\"datePublished\":\"2025-01-25T12:03:17+00:00\",\"dateModified\":\"2025-01-25T12:03:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/\"},\"wordCount\":1843,\"publisher\":{\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/#organization\"},\"image\":{\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1050&resize=1050,550&ssl=1\",\"keywords\":[\"Bill\",\"Donald J\",\"Eric F (1984- )\",\"Melania\",\"Presidential Election of 2024\",\"Trump\",\"United States Politics and Government\",\"Virtual Currency\",\"Zanker\"],\"articleSection\":[\"U.S.\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/\",\"url\":\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/\",\"name\":\"Trump\u2019s Crypto Venture Divides the Industry He Aims to Support - World News\",\"isPartOf\":{\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1050&resize=1050,550&ssl=1\",\"datePublished\":\"2025-01-25T12:03:17+00:00\",\"dateModified\":\"2025-01-25T12:03:17+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#primaryimage\",\"url\":\"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1050&resize=1050,550&ssl=1\",\"contentUrl\":\"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1050&resize=1050,550&ssl=1\",\"width\":1050,\"height\":550},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/site.itshrt.com\/worldnews\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Trump\u2019s Crypto Venture Divides the Industry He Aims to Support\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/#website\",\"url\":\"https:\/\/site.itshrt.com\/worldnews\/\",\"name\":\"World News\",\"description\":\"World News\",\"publisher\":{\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/site.itshrt.com\/worldnews\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/#organization\",\"name\":\"World News\",\"url\":\"https:\/\/site.itshrt.com\/worldnews\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/site.itshrt.com\/worldnews\/wp-content\/uploads\/sites\/13\/2025\/01\/cropped-download.png\",\"contentUrl\":\"https:\/\/site.itshrt.com\/worldnews\/wp-content\/uploads\/sites\/13\/2025\/01\/cropped-download.png\",\"width\":581,\"height\":581,\"caption\":\"World News\"},\"image\":{\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/site.itshrt.com\/worldnews\/#\/schema\/person\/1d8ae7348e048cb7984f26b4dd818ff2\",\"name\":\"News\",\"url\":\"https:\/\/site.itshrt.com\/worldnews\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Trump\u2019s Crypto Venture Divides the Industry He Aims to Support - World News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/","og_locale":"en_US","og_type":"article","og_title":"Trump\u2019s Crypto Venture Divides the Industry He Aims to Support - World News","og_description":"Dressed in ball gowns, tuxedos and \u201cMake Bitcoin Great Again\u201d baseball caps, a crowd of some of the country\u2019s most","og_url":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/","og_site_name":"World News","article_published_time":"2025-01-25T12:03:17+00:00","og_image":[{"url":"https:\/\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg","type":"","width":"","height":""}],"author":"News","twitter_card":"summary_large_image","twitter_image":"https:\/\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg","twitter_misc":{"Written by":"News","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#article","isPartOf":{"@id":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/"},"author":{"name":"News","@id":"https:\/\/site.itshrt.com\/worldnews\/#\/schema\/person\/1d8ae7348e048cb7984f26b4dd818ff2"},"headline":"Trump\u2019s Crypto Venture Divides the Industry He Aims to Support","datePublished":"2025-01-25T12:03:17+00:00","dateModified":"2025-01-25T12:03:17+00:00","mainEntityOfPage":{"@id":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/"},"wordCount":1843,"publisher":{"@id":"https:\/\/site.itshrt.com\/worldnews\/#organization"},"image":{"@id":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#primaryimage"},"thumbnailUrl":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1050&resize=1050,550&ssl=1","keywords":["Bill","Donald J","Eric F (1984- )","Melania","Presidential Election of 2024","Trump","United States Politics and Government","Virtual Currency","Zanker"],"articleSection":["U.S."],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/","url":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/","name":"Trump\u2019s Crypto Venture Divides the Industry He Aims to Support - World News","isPartOf":{"@id":"https:\/\/site.itshrt.com\/worldnews\/#website"},"primaryImageOfPage":{"@id":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#primaryimage"},"image":{"@id":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#primaryimage"},"thumbnailUrl":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1050&resize=1050,550&ssl=1","datePublished":"2025-01-25T12:03:17+00:00","dateModified":"2025-01-25T12:03:17+00:00","breadcrumb":{"@id":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#primaryimage","url":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1050&resize=1050,550&ssl=1","contentUrl":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1050&resize=1050,550&ssl=1","width":1050,"height":550},{"@type":"BreadcrumbList","@id":"https:\/\/site.itshrt.com\/worldnews\/trumps-crypto-venture-divides-the-industry-he-aims-to-support\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/site.itshrt.com\/worldnews\/"},{"@type":"ListItem","position":2,"name":"Trump\u2019s Crypto Venture Divides the Industry He Aims to Support"}]},{"@type":"WebSite","@id":"https:\/\/site.itshrt.com\/worldnews\/#website","url":"https:\/\/site.itshrt.com\/worldnews\/","name":"World News","description":"World News","publisher":{"@id":"https:\/\/site.itshrt.com\/worldnews\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/site.itshrt.com\/worldnews\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/site.itshrt.com\/worldnews\/#organization","name":"World News","url":"https:\/\/site.itshrt.com\/worldnews\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/site.itshrt.com\/worldnews\/#\/schema\/logo\/image\/","url":"https:\/\/site.itshrt.com\/worldnews\/wp-content\/uploads\/sites\/13\/2025\/01\/cropped-download.png","contentUrl":"https:\/\/site.itshrt.com\/worldnews\/wp-content\/uploads\/sites\/13\/2025\/01\/cropped-download.png","width":581,"height":581,"caption":"World News"},"image":{"@id":"https:\/\/site.itshrt.com\/worldnews\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/site.itshrt.com\/worldnews\/#\/schema\/person\/1d8ae7348e048cb7984f26b4dd818ff2","name":"News","url":"https:\/\/site.itshrt.com\/worldnews\/author\/admin\/"}]}},"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=150&resize=150,150&ssl=1","medium":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=300&resize=300,300&ssl=1","medium_large":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=768&resize=768,0&ssl=1","large":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1024&resize=1024,1024&ssl=1","1536x1536":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1536&resize=1536,1536&ssl=1","2048x2048":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=2048&resize=2048,2048&ssl=1","colormag-highlighted-post":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=392&resize=392,272&ssl=1","colormag-featured-post-medium":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=390&resize=390,205&ssl=1","colormag-featured-post-small":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=130&resize=130,90&ssl=1","colormag-featured-image":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=800&resize=800,445&ssl=1","colormag-default-news":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=150&resize=150,150&ssl=1","colormag-featured-image-large":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1400&resize=1400,600&ssl=1","colormag-elementor-block-extra-large-thumbnail":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1155&resize=1155,480&ssl=1","colormag-elementor-grid-large-thumbnail":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=600&resize=600,417&ssl=1","colormag-elementor-grid-small-thumbnail":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=285&resize=285,450&ssl=1","colormag-elementor-grid-medium-large-thumbnail":"https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=575&resize=575,198&ssl=1"},"magazineBlocksPostAuthor":{"name":"News","avatar":"https:\/\/secure.gravatar.com\/avatar\/e85cf08852547781a5f631f3713dbb5197ed4b54e32ae19c7d5769b8c8504897?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":false,"magazineBlocksPostExcerpt":"Dressed in ball gowns, tuxedos and \u201cMake Bitcoin Great Again\u201d baseball caps, a crowd of some of the country\u2019s most","magazineBlocksPostCategories":["U.S."],"magazineBlocksPostViewCount":59,"magazineBlocksPostReadTime":10,"magazine_blocks_featured_image_url":{"full":["https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=1050&resize=1050,550&ssl=1",1050,550,false],"medium":["https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=300&resize=300,300&ssl=1",300,300,false],"thumbnail":["https:\/\/i1.wp.com\/static01.nyt.com\/images\/2025\/01\/23\/us\/politics\/00dc-trump-crypto1\/00dc-trump-crypto1-facebookJumbo.jpg?w=150&resize=150,150&ssl=1",150,150,false]},"magazine_blocks_author":{"display_name":"News","author_link":"https:\/\/site.itshrt.com\/worldnews\/author\/admin\/"},"magazine_blocks_comment":0,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/e85cf08852547781a5f631f3713dbb5197ed4b54e32ae19c7d5769b8c8504897?s=96&d=mm&r=g","magazine_blocks_category":"<a href=\"#\" class=\"category-link category-link-33\">U.S.<\/a>","_links":{"self":[{"href":"https:\/\/site.itshrt.com\/worldnews\/wp-json\/wp\/v2\/posts\/1999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/site.itshrt.com\/worldnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/site.itshrt.com\/worldnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/site.itshrt.com\/worldnews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/site.itshrt.com\/worldnews\/wp-json\/wp\/v2\/comments?post=1999"}],"version-history":[{"count":0,"href":"https:\/\/site.itshrt.com\/worldnews\/wp-json\/wp\/v2\/posts\/1999\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/site.itshrt.com\/worldnews\/wp-json\/wp\/v2\/media\/2000"}],"wp:attachment":[{"href":"https:\/\/site.itshrt.com\/worldnews\/wp-json\/wp\/v2\/media?parent=1999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/site.itshrt.com\/worldnews\/wp-json\/wp\/v2\/categories?post=1999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/site.itshrt.com\/worldnews\/wp-json\/wp\/v2\/tags?post=1999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}