The New Statesman | UK politics and culture Why is Trump shilling crypto?
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Jun 3, 2025 In this engaging conversation, investigative reporter Russ Buettner delves into Donald Trump's intriguing pivot to cryptocurrency, including the launch of $TRUMP and $MELANIA memecoins. He discusses how Trump’s financial maneuvers often mask a history of failed ventures and the implications for society at large. Buettner also examines the dissonance between Trump's self-made narrative and his inherited wealth, highlighting the complex interplay of celebrity culture, finance, and politics in the context of a transforming cryptocurrency landscape.
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Trump's Wealth: Illusion vs Reality
- Trump's reported wealth is hard to verify and highly fluctuates, especially with volatile crypto assets.
- His brand as a self-made billionaire was critical for his political rise, though fundamentally inaccurate.
Trump's False Startup Story
- Trump falsely claims he started with a "small loan" of $1 million from his father.
- In reality, he inherited nearly half a billion dollars and received ongoing support in his early ventures.
Father's Cautiousness vs Son's Risk
- Fred Trump was meticulous and cautious in business, unlike Donald who often overspent on "trophy properties."
- Donald repeatedly gambled that notoriety would translate into profits, but often failed.
