Trumps have never been known for their subtlety: they like to do things quickly, tall and noisy. This is particularly true in the context of cryptocurrency, a noisy and chaotic industry by nature. Remember our president’s NFT collection? Among the representations of these digital trade cards, there is a portrait of Donald Trump in a costume inspired by Iron Man, accompanied by the legend “supertrump”. Or how about the room even $ Trump and the gamified gala dinner who accompanies him for his greatest investors?
It was easy, in part because of the boastful of the approach to the promotion of trumps, to reduce the family’s dalliances to crypto as a cash seizure: the memes piece – which does not have a function except to facilitate the game – almost immediately made Trump a crypto -millionaire. But recently, the family has taken a resolutely different approach – a Trumpian bombardment and a more sober promotion of their cryptographic companies. On Wednesday, Eric Trump joined CNBC after the American Bitcoin, the Crypto-Mine company he co-founded, became public and began to negotiate on the Nasdaq Stock Exchange. For the most part, it looked like any other C -Suite execution speaking their business after an IPO: “Looking at what the stock is doing right now – it’s beautiful and incredibly enriching.”
The public debut of American Bitcoin are just a way in which the Crypto game of the Trump family has been dressed in the past two weeks. The cryptographic firm Trump and his sons co -founded, World Liberty Financial, aggressively extended; The media company behind Truth Social A aspirated Millions even more crypto; And this same company has created a new cryptographic treasure to hold the stock. This blitz turned out to be extremely consecutive (and extremely lucrative) for the Empire of Trump cryptography in maturity. Each of these movements has a plating of legitimacy which had the transactions of anterior crypto of the family: they are much easier to defend than a NFT inspired by Iron Man, while doing as much for enrich Trump and his sons.
The heart of this maneuver is World Liberty Financial, who, despite the counting of Trump’s three sons (including Barron, 19) as founders, is by far the most legitimate operation in the world of Trump’s cryptography. It is wacky – a “golden paper” emitted by the company is plastered with a cartoon of the Trump’s face – but the company has attached to one of the most pavement parts in the crypto industry: the stablescoins. These are cryptocurrencies set at the price of another asset, such as the US dollar, and are generally supported by reserves. Think of them as digital money. Thank you a few years from widespread adoptionStablecoins are now widely accepted as the most robust innovation in the cryptographic industry – one of the only cases of real use in an industry that has long been trying to prove that it is more than a simple speculation avenue.
The shock of the company, USD1, was launched in March, but this week, the company decided to unlock a large branch of what is known as “governance tokens”. All governance tokens, in theory, can provide a level of responsibility and democracy to a cryptographic project, conferring voting rights which can influence business governance decisions – much like the ways use voting actions to influence public societies. Except that in this case, the power of governance conferred by the tokens seems mainly symbolic: the management team of World Liberty Financial probably has a large part of the medal that it can oppose its veto to decisions. The trumps alone hold almost a quarter of the governance tokens that exist. The family has brought up to $ 5 billion in “paper wealth” once the tokens have hit the market this week, according to The Wall Street Journal. Tokens, to date, are probably the most precious asset of the Trump family, eclipiding all their golf courses and hotels.
It is an excellent example of the new philosophy of family cryptography in action. World Liberty Finance certainly presents itself as a legitimate cryptocurrency company, but it is also, like the room even Trump, a way to put the Trump brand at work and potentially capitalize on the office of the presidency. In a declaration sent by email, the white house press secretary Karoline Leavitt defended Trump’s crypto transactions: “Continuous media attempts to make conflicts of interest are irresponsible and strengthen public distrust of what they read. Neither the president nor his family have never been committed, nor will never engage in conflicts of interest. “
Just in case the stable operation is not sufficient to pass the legitimacy test on Monday, Trump Media Group Cro Strategy, a new crypto company that exists mainly to buy a lot of parts, will join the American Bitcoin as a public company and will be registered in the Nasdaq. Anyway, none of these companies has chosen to make public through a traditional IPO, which involves all kinds of regulatory obstacles and public disclosure. By accelerating the public beginnings of these actions, the Trumps try to prove that they are real Companies – legitimate active ingredients supported by fundamental principles rather than by Vaporware. The Nasdaq, unlike some of the exchanges that listed the memes Trump piece, can be interrupted and controlled.
Few serious crypto investors could support Trump’s even play with an impassive face (Anthony Scaramucci famous called him “Corruption of level Idi Amimin”), but today, these same investors can indicate American bitcoin, or to the stablescoins of World Liberty Financial, or to the CRO strategy of the media group, and say, See? You can always buy the meme part, or the NFT Trump, or one of these other more questionable assets – but in the most real parts of their crypto empire, the Trumps have a perfect cover.
