Post Reports The cryptocurrency that buys access to Trump
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May 20, 2025 Drew Harwell, a technology reporter for The Washington Post, dives into the curious intersection of Trump and cryptocurrency. He discusses how Trump's meme coin, launched days before his inauguration, became a financial phenomenon, attracting foreign investors looking for exclusive access to the former president. The conversation explores the volatile nature of meme coins, the ethical dilemmas of political influence in crypto, and the potential regulatory challenges facing the industry as finance and politics become increasingly entwined.
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Trump's Meme Coin Explained
- Trump launched his own meme coin called Trump coin, a novelty cryptocurrency.
- Meme coins have no real value and largely rely on speculation and the brand attached to them.
Crypto as the Wild West
- Meme coin values fluctuate wildly and lack central financial authority or regulation.
- Many coins are risky and can be scams, requiring deep market knowledge to trade effectively.
Trump's Shift to Crypto
- Trump initially criticized cryptocurrencies but later embraced them during his run for president.
- His organization launched the Trump coin in collaboration with a company tied to his associates.