Former US CFTC Commissioner Timothy Massad expressed concerns about Donald Trump's crypto projects, fearing potential conflicts of interest.
Donald Trump's Crypto Activities
Before assuming his second term, Donald Trump launched his own meme coin, which quickly gained popularity, rising from less than $10 to over $75 within a week. However, after the initial surge, its value has plummeted to $11.37. Additionally, the Trump family still holds a significant stake in World Liberty Financial, receiving approximately 75% of the platform's net revenue. Trump himself holds no position in WLFI, but his name and those of his sons are mentioned in the project as 'Chief Crypto Advocates.'
Timothy Massad's Opinion
Timothy Massad voiced his concern, stating that a US president should not be engaged in commercial ventures that could be directly influenced by his policies. He claims that Trump's projects bring no value to people and may resemble schemes that exploit others.
Crypto Community's Reaction
The crypto community responded with mixed comments on Trump's actions in the cryptocurrency field. Some prominent figures, such as Mark Cuban and Anthony Scaramucci, have spoken against the sale of WLFI tokens. Crypto analysts question the ethics of such projects and the possibility of their market value being manipulated. Justin Sun, the founder of TRON, recently acquired WLFI tokens worth $75 million, which has also raised numerous questions.
Donald Trump's activities in the crypto industry are causing concern among experts and the community. Despite criticism and allegations of conflict of interest, Trump's projects continue to develop, sparking differing opinions and discussions.
