RiskReversal principal and RiskReversal Media co-founder Dan Nathan mentioned on CNBC Wednesday that U.S. President Donald Trump’s crypto ventures are akin to a “Ponzi scheme.”
Dan Nathan Shares His Take
When requested by “The eleventh Hour” host Stephanie Ruhle in regards to the ethics tied to the Trump-affiliated crypto platform World Liberty Monetary, Nathan didn’t maintain again.
“The massive concern there’s that that is like the proper Ponzi scheme, if you’ll,” Nathan mentioned. “You may’t actually monitor a complete heck of loads that goes on there, regardless of it being on a blockchain.”
“Clearly, the more cash that goes into it, the higher it’s for the Trump Group,” he added.
Trump’s Connections To Crypto Face Scrutiny
Critics of Trump’s ties to the crypto trade broadly argue that the shortage of digital asset oversight could depart the door open for sure international governments to purchase favor with the present U.S. president.
In January, Trump and his spouse, Melania, launched namesake memecoins, drawing scrutiny from the general public over potential conflicts of curiosity forward of his potential second time period within the Oval Workplace.
JUST IN:
First Woman Melania Trump launches crypto meme coin $MELANIA.
— Watcher.Guru (@WatcherGuru) January 19, 2025
Most lately, Trump’s memecoin, $TRUMP, introduced that the highest 220 holders of the cryptocurrency will probably be invited to attend an unique dinner at Trump Nationwide Golf Membership in Washington, D.C. on Could 22.
The highest 25 traders can even be eligible to attend an “unique reception” alongside Trump forward of the dinner, which features a “particular VIP tour” for attendees.
Democratic senators Elizabeth Warren and Adam Schiff have since referred to as on Jamieson Greer, the appearing director of the U.S. Workplace of Authorities Ethics, to launch an “pressing inquiry” into the occasion.
“The American folks deserve the unwavering assurance that entry to the presidency isn’t being provided on the market to the very best bidder in change for the President’s personal monetary achieve,” the U.S. lawmakers mentioned in an April 25 letter.
Provided that Trump is in one of many nation’s highest positions of energy, it’s nonetheless unclear whether or not these issues will probably be absolutely explored.
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