

Julian Zelizer & Zeke Faux
Dec 30, 2024
Zeke Faux, a Bloomberg journalist and author, dives into his book "Number Go Up," investigating cryptocurrency's ties to the Trump administration. Historian Julian Zelizer offers crucial historical insights on today's intense partisanship and its implications in politics. They discuss the overlapping realms of finance and politics, exploring crypto's controversial role, and dissect the current political chaos, emphasizing the erosion of trust and the need for strategic changes in response to persistent challenges.
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Trump's Crypto Flip-Flop
- Bitcoin advocates raised $25 million for Trump, influencing his stance on cryptocurrency.
- Trump subsequently spoke at a Bitcoin convention, advocating for a national Bitcoin reserve.
Cryptocurrency's Value Proposition
- Bitcoin's primary value lies in its potential price increase, not its practical use.
- Other cryptocurrencies resemble stocks, with values tied to platforms or speculative meme coins.
Crypto's Dark Side
- Cryptocurrencies facilitate illicit activities like drug sales and online scams due to anonymity.
- A cryptocurrency game, Axie Infinity, caused financial ruin in the Philippines after a price bubble burst.