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Trump's Crypto Pardon: Either He's Clueless or We're Being Played
Okay, so Trump pardoned this crypto dude, Changpeng Zhao (or "CZ," whatever). Claims he has "no idea who he is." Right. Give me a break. Either the guy's memory is worse than I thought, or we're being fed another steaming pile of... well, you know.
The "I Don't Know Him" Defense
The story is, Trump pardoned Zhao, who ran Binance and pleaded guilty to, ya know, enabling money laundering. A real pillar of the community. Then, when asked about it on 60 Minutes, Trump pulls the "I don't know who he is" card. Seriously? 'I don't know who he is,' says Trump after pardoning crypto tycoon
He claims he was told Zhao was a victim of a "witch hunt" by Biden. Okay, even if we buy that (and I'm not buying it), how does that justify a pardon for someone who admitted to, let's not forget, facilitating money laundering? It's like saying, "Yeah, he robbed a bank, but the cops were mean to him, so he's free to go!"
And the White House Press Secretary, Karoline Leavitt, calling the prosecution a "war on cryptocurrency"? Come on. It's a war on crime, lady.
Here's the thing that really fries my circuits: Trump's companies have partnered with firms linked to Zhao! His sons are even on the board of advisers for Dominari Holdings, which is based in Trump Tower and involved in digital-currency projects with Zhao's companies. So, how can he claim ignorance? Is he just that detached from his own business dealings? Or is he betting we're all too stupid to remember?
The Crypto Connection Runs Deep
This isn't even the first time Trump's administration has gotten cozy with crypto folks. They halted a fraud case against Justin Sun, another crypto entrepreneur, after his investments in the Trump family's crypto firm. And let's not forget the pardons for the BitMEX founders, also facing money laundering charges, and Ross Ulbricht of Silk Road fame.
It's a pattern, folks. A pattern of protecting people in the crypto space, even when they're knee-deep in shady stuff. What's the deal?
I mean, I get it. Trump sees the potential of crypto. He even said the US needs to be a leader in the industry to avoid China gaining an advantage. But does that mean we throw ethics out the window? Does that mean we give a free pass to anyone who throws a few bucks at a Trump-related venture?
Offcourse, maybe I'm being too harsh. Maybe Trump really doesn't know who Zhao is. Maybe he just signs whatever documents are put in front of him without bothering to read them. Which, frankly, is almost as terrifying as the alternative.
The ETF Game: A Side Hustle?
And while we're on the subject of crypto, let's talk about these ETFs. Apparently, the SEC is dragging its feet on approving them, but some companies are trying to sneak them through using loopholes. Fidelity and Canary Capital are filing updated S-1 registration statements with "no delaying amendment" language, hoping the SEC won't notice.
It's like trying to run a red light and hoping the cop is busy eating a donut.
If the SEC doesn't step in, we could see a bunch of new crypto ETFs hitting the market soon, including a Solana ETF from Fidelity and an XRP ETF from Canary Capital. But there's a catch. The SEC hasn't really engaged with the XRP application, so it might get blocked.
What's the holdup, anyway? Is the SEC just incompetent? Are they deliberately trying to stifle innovation? Or are they just trying to protect investors from getting scammed by fly-by-night crypto schemes? I honestly don't know anymore.
What Are We Even Doing Here?
I'm so sick of this. The constant lies, the blatant corruption, the endless parade of grifters and con artists. Are we really supposed to believe that Trump is just an innocent bystander in all of this? Are we supposed to applaud him for "correcting an overreach" by the Biden administration when he's clearly benefiting from these crypto connections?
I just... I need a drink.
