Trump's Crypto Amnesia: Either He's Lying, or He's Even Dumber Than We Thought
Okay, so Trump pardons this crypto dude, Changpeng Zhao—or "CZ," whatever—who pleaded guilty to, ya know, enabling money laundering. Serious stuff. And then, when asked about it on 60 Minutes, Trump says, "I don't know who he is."
Give me a break.
The "Witch Hunt" Defense
He claims he was told CZ was a victim of a "witch hunt" by the Biden administration. Right. The same Biden administration that Trump and his cronies accuse of being totally incompetent? Suddenly, they're masterminds of elaborate crypto-persecution schemes? Ironic, ain't it?
Karoline Leavitt, the White House Press Secretary, even doubled down, calling Zhao's prosecution part of a "war on cryptocurrency." A war? Seriously? It's a legal case involving money laundering. Let's not get carried away with the hyperbole, shall we?
And what about the fact that CZ's companies have partnered with firms linked to Trump Tower? His sons sit on the board of advisers at Dominari Holdings, a company based in Trump Tower that's working on digital-currency projects. Coincidence? I think not.
The Pardons Pile Up
This isn't even the first time Trump's handed out pardons to crypto guys with shady pasts. There was Justin Sun, the founder of BitMEX who faced charges related to money laundering. And Ross Ulbricht, founder of the Silk Road, the dark web marketplace known for drug trade. What's the common denominator here? It sure as hell ain't justice.
It makes you wonder, doesn't it? Is Trump just conveniently "forgetting" these connections, or is he genuinely clueless about the people he's pardoning? Either option is terrifying. One suggests blatant corruption, the other suggests a level of incompetence that's frankly astounding, even for him.
Bitcoin's Bumpy Ride
Meanwhile, Bitcoin's having a rough time. Apparently, it dipped below $108,000 recently. Traders are blaming everything from fading confidence in rate cuts to a stronger dollar. And of course, thinner liquidity due to a holiday in Tokyo didn't help. Asia Market Open: Bitcoin Slips Below $108K As Investors Temper Hopes For Deeper Rate Cuts
"Uptober" turned into "Red October," as one trader put it. Poetic, in a grim sort of way.
I'm not a financial advisor, and I wouldn't touch crypto with a ten-foot pole. But it's hard not to see a connection between the shady dealings and the market volatility. When the guys at the top are getting pardoned for money laundering, it doesn't exactly inspire confidence in the whole system, does it?
The article also mentions that the Trump administration previously halted a fraud case against crypto entrepreneur Justin Sun, after his investments in the Trump family's crypto firm, World Liberty Financial. So, let me get this straight: Trump's team stopped a fraud case after the guy invested in a Trump-related company? This stinks to high heaven.
But maybe, just maybe, I'm being too cynical. Maybe Trump really doesn't know who CZ is. Maybe he just signs whatever documents his staff puts in front of him. Maybe the entire US government is being run by a bunch of clueless stooges.
Nah. Even I don't believe that.
So, What's the Real Story Here?
Look, it's simple. Either Trump is lying through his teeth to cover up some shady dealings, or he's so out of touch with reality that he's a danger to national security. Take your pick. Neither option is good. And frankly, I'm tired of pretending otherwise.
