Trump Gets Rich on Cryptocurrencies, Using Personal Power

US Senator Elizabeth Warren lamented the fact that US President Donald Trump has turned the White House into a machine for making money on cryptocurrencies.

Trump is using the powers of the presidency to enrich himself with digital assets, and he doesn’t even hide it. The billionaires who hold power right now are hoping that the rest of us will just give up. But we shouldn’t despair, we should get angry and get back into the fight, Warren said.

Elizabeth Warren

To make money on virtual currencies, Donald, as Elizabeth believes, is lobbying for the adoption of favorable laws on digital assets and pressuring the Chairman of the US Federal Reserve System Jerome Powell, trying to force him to lower the key rate. Easing monetary policy will play into the hands of the crypto industry and make some fat cats rich, but will hit the pockets of ordinary Americans, the senator believes.

Trump’s media company, Trump Media and Technology Group, has amassed about $2 billion in bitcoins and other digital assets, while World Liberty Financial, a company owned by the president’s sons, holds $210 million in coins and tokens. So it’s safe to assume that virtual currencies have earned the Donald couple hundreds of millions of dollars.

Trump is the most corrupt president in American history. And because of that corruption, he tries to control anyone who challenges him or disagrees with him. That includes the media, universities, and law firms, Elizabeth added.

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