This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Crypto bros are the newest to be screwed by Trump
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Politics > Crypto bros are the newest to be screwed by Trump
Politics

Crypto bros are the newest to be screwed by Trump

Editorial Board Published March 7, 2025
Share
Crypto bros are the newest to be screwed by Trump
SHARE

There’s a sturdy correlation between Elon Musk, President Donald Trump, and crypto bros. So you would think about the bros’ elation on Thursday when Trump introduced a nationwide “bitcoin reserve,” funded by bitcoin and different cryptocurrencies taken in federal authorities seizures. 

One wrinkle: Trump’s “crypto czar” (and Musk lackey) David Sacks wrote on X, “The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime.”

The expectation in crypto circles had seemingly been that the federal authorities would purchase bitcoin to populate a nationwide reserve, similar to it buys oil for its petroleum reserves—which, because of the ability of provide and demand, would increase the worth of bitcoin (and different currencies). However asserting the federal government wouldn’t make extra purchases has led to a pointy drop in crypto costs. 

The proposal isn’t all unhealthy for the bros. Sacks introduced that the federal government would merely maintain on to the seized cash, not promote. Take provide out of the market, and the demand facet will get a lift; therefore, costs are stabilized for crypto belongings which have little to no inherent worth. However that wasn’t sufficient to quell the fury from the crypto neighborhood. 


Treasury Secretary Scott Bessent

In consequence, the Trump administration is doing one among its patented walkbacks. “[Treasury Secretary Scott] Bessent, in an interview, said seized crypto assets would go into the reserve first ‘then we’ll see what the way forward is for more acquisitions for the reserve,’” reported Reuters on Friday. 

However don’t fear, as a result of, as Sacks famous in his X publish linked above, “The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers.”

So that you see, the reserve gained’t value taxpayers a dime, besides they’re searching for “more acquisitions” that can definitely value taxpayers a dime (and certain way more), however it should all be “budget neutral” and have “no incremental costs” on taxpayers.  

I do know bullshit market manipulation after I see it. 

Over at Reddit, the crypto subreddit, which remains to be smarting from the Trump and Melania Trump rugpulls (common individuals getting screwed by nugatory meme cash), has been vicious. Posts headlined “In your opinion, is crypto’s primary purpose for this administration to just launder money from foreign entities?” and indignant memes abound.

And there’s one remaining dynamic at play—the unique promise of crypto was a decentralized foreign money free from the manipulations of nationwide governments. It’s a tech-libertarian utopia concept. 

And now you’ve bros cheering a authorities—the world’s largest financial system, no much less—actively meddling within the crypto market and making strikes that clearly manipulate costs. The unique “decentralized” fantasy could by no means have been lifelike, however this crypto reserve makes an overt mockery of that dream. That has additional divided the crypto neighborhood.

Marketing campaign Motion

TAGGED:broscryptolatestscrewedTrump
Share This Article
Twitter Email Copy Link Print
Previous Article Mortgage charges fall once more with largest weekly decline since mid-September Mortgage charges fall once more with largest weekly decline since mid-September
Next Article Jennifer Lopez Feels ‘Betrayed’ by Ben Affleck After Garner PDA Jennifer Lopez Feels ‘Betrayed’ by Ben Affleck After Garner PDA

Editor's Pick

Brooke Hogan Written Out of Hulk’s Will (At Her Personal Request)

Brooke Hogan Written Out of Hulk’s Will (At Her Personal Request)

Studying Time: 3 minutes Brooke Hogan isn’t in her dad’s will, a brand new report reveals. Regardless of years of…

By Editorial Board 4 Min Read
6 Greatest Underwear To Stop Chafing For Males in 2025 | Fashion
6 Greatest Underwear To Stop Chafing For Males in 2025 | Fashion

We independently consider all really helpful services. Any services or products put…

15 Min Read
9 Finest Males’s Shorts Manufacturers – Versatile Types For 2025 | Fashion
9 Finest Males’s Shorts Manufacturers – Versatile Types For 2025 | Fashion

We independently consider all advisable services. Any services or products put ahead…

13 Min Read

Oponion

J&J Split Plan Reflects Change in Health Industry

J&J Split Plan Reflects Change in Health Industry

Johnson & Johnson plans to break up into two companies,…

November 12, 2021

Household of Marine vet murdered by cartel violence in Mexico: ‘We’ll deal with it’

Former President Trump was joined onstage…

November 1, 2024

Motorcyclist killed in collision Friday in Milpitas

MILPITAS – A 48-year-old motorcyclist was…

May 10, 2025

Medical Records Data Offers Doctors Hope of Better Patient Care

The Future of Everything covers the…

December 3, 2021

Dockworkers’ union reaches tentative settlement, will droop port strike till January

'Kudlow' panelists Steve Moore and Michael…

October 3, 2024

You Might Also Like

Unplanned parenthood and different horrors confront Medicaid sufferers in California
Politics

Unplanned parenthood and different horrors confront Medicaid sufferers in California

By Mark Kreidler for Capital & Most important The framers of the newest lawsuit in opposition to the Trump administration’s try to dismantle…

10 Min Read
Cuts to meals advantages stand in the best way of RFK Jr.’s objectives for a more healthy nationwide food regimen
Politics

Cuts to meals advantages stand in the best way of RFK Jr.’s objectives for a more healthy nationwide food regimen

Belinda McLoyd has been fascinated with peanut butter. McLoyd, 64, receives a small month-to-month cost by way of the federal…

11 Min Read
He was requested about tattoos and TikTok video in courtroom. 5 days later, he was in Salvadoran jail.
Politics

He was requested about tattoos and TikTok video in courtroom. 5 days later, he was in Salvadoran jail.

Albert Jesús Rodríguez Parra was one in every of greater than 230 Venezuelan immigrants the Trump administration despatched to a…

12 Min Read
Shady international leaders are pouncing on Trump’s thirst for peace prize
Politics

Shady international leaders are pouncing on Trump’s thirst for peace prize

President Donald Trump is obsessive about getting a Nobel Peace Prize. President Barack Obama gained one—so why can’t he? His…

4 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?