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Crypto industry once saw Trump as ally, now fears his profit-first approach

Business Standard LogoBusiness Standard12h ago

Crypto industry once saw Trump as ally, now fears his profit-first approach - Business Standard

Quick Summary:

While Democrats charge that Trump is using the power of the presidency to boost profits for his family business, even some pro-Trump crypto enthusiasts worry that the president's push into meme coins isn't helping their efforts to establish the credibility, stability and legitimacy they had thought his administration would bring to their businesses.

It seems like a triumph for a cryptocurrency industry that has long sought mainstream acceptance: Top investors in one of President Donald Trump's crypto projects invited to dine with him at his luxury golf club in Northern Virginia on the heels of the Senate advancing key pro-crypto legislation and while bitcoin prices soar.

But Thursday night's dinner for the 220 biggest investors in the $TRUMP meme coin has raised uncomfortable questions about potentially shadowy buyers using the anonymity of the internet to buy access to the president.


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Article Details

Category: BusinessFinance

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-22 @ 14:40:47 (12 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 1453 words

Reading Time: 9 minutes read

Sentences: 71 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 28903268

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 288 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 3 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

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Publisher ID: #49

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