welcome
The Intercept

The Intercept

Business

Business & Economics

Watchdog says Trump's embrace of crypto is 'a really troubling picture of potential corruption'

The Intercept
Summary
Nutrition label

64% Informative

The list of invitees to the crypto summit offers a window into the tight links between Trump and the crypto world.

Since taking office, the Trump administration has dropped legal action against several leading crypto companies.

Many of the crypto executives invited to the gathering also made personal donations to Trump 's campaign or to pro-Trump super PACs.

Trump has a direct financial interest in another company represented at the summit: World Liberty Financial .

The company bought up $20 million of several cryptocurrencies ahead of the summit, leading to further criticisms from ethics watchdogs.

One of Trump ’s first acts after winning the election was to appoint venture capitalist David Sacks as his crypto and artificial intelligence czar.

Sacks is a special government employee, the same status wielded by Elon Musk .

VR Score

64

Informative language

65

Neutral language

19

Article tone

formal

Language

English

Language complexity

50

Offensive language

possibly offensive

Hate speech

not hateful

Attention-grabbing headline

detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

17

https://thehill.com/business/4962487-coinbase-to-give-another-25m-to-fairshake-in-2025/https://www.reuters.com/world/us/trump-campaign-refunds-winklevoss-twins-after-bitcoin-donations-exceed-limit-2024-06-21/https://www.foxbusiness.com/politics/crypto-industry-election-spending-tallies-least-238m-surpassing-traditional-giantshttps://www.fec.gov/data/individual-contributions/?contributor_name=Kyle+Samani&contributor_name=Pyahm+Samani&two_year_transaction_period=2024https://docquery.fec.gov/cgi-bin/fecimg/?202412059731325358https://cointelegraph.com/news/trump-s-world-liberty-bought-20-m-worth-of-crypto-ahead-of-summithttps://x.com/DavidFBailey/status/1854750315213410718https://docquery.fec.gov/cgi-bin/fecimg/?202407319665761404https://www.coindesk.com/policy/2025/03/04/david-sacks-quiety-divested-from-crypto-company-at-center-of-conflict-of-interest-controversyhttps://www.followthecrypto.org/elections/presidenthttps://www.commoncause.org/articles/big-tech-is-donating-millions-to-trumps-inauguration/https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=Nathan+McCauley&contributor_city=Oakleyhttps://www.motherjones.com/politics/2025/02/sec-fraud-prosecution-chinese-crypto-entrepreneur-justin-sun-donald-trump-world-liberty-financial-tokens/https://chainlinktoday.com/sergey-nazarov-shines-spotlight-on-chainlink-during-inauguration-weekend/https://join.theintercept.com/donate/now/?referrer_post_id=487671&referrer_url=https%3A%2F%2Ftheintercept.com%2F2025%2F03%2F07%2Fwhite-house-crypto-summit-trump-donors%2F&source=web_intercept_20241230_Inline_Signup_Replacementhttps://apnews.com/article/bitcoin-reserve-trump-crypto-sacks-5c91a1ab3dab9a8c86d4bc42b8db3f8fhttps://www.banking.senate.gov/imo/media/doc/letter_to_david_sacks.pdf

Affiliate links

no affiliate links

Read full article