In an unprecedented and interesting fusion of politics and money, former US president Donald Trump is said to have made $57.4 million in a partnership deal with a major cryptocurrency company, which has caused a heated discussion on the future of digital asset regulation in the U.S.
The Deal: What We Know
Unverified sources state that Trump secured a nonbinding agreement for several years FreedomCoin, which is the force of new in crypto payments ecosystem. This is the list of main points of the contract:
- A cash and equity package valued at $57.4 million
- Trump’s official image and name licensed for future token promotions
- Appearances at industry events and digital asset summits
- Ongoing lobbying support for pro-crypto legislation
The Politics Behind the Partnership
Furthermore, the latter is the date of the Trump’s crypto deregulation project’s rebirth. It is mostly due to that fact that Trump openly declared that he was the “pro-crypto” candidate when enumerating the following:
- Rolling back SEC enforcement actions on crypto firms
- Promoting U.S.-based crypto mining
- Establishing regulatory clarity to retain innovation onshore
It seems that this contract is intended to act like both money and ideas and it is the reinforcement of the commitment that he is the sportsman of the private sector innovation and deregulation.
Industry Reaction
The crypto community is divided:
- Supporters speak highly of the decision as a strong endorsement that could help the industry gain legitimacy even from the highest political levels.
- On the other hand, opponents caution that it might lead to the situation where the borders between public policy and personal profit become indistinct, particularly if the crypto sector is not given a break from regulatory agencies.
“It definitely has the good and the bad in it — Trump is using his name to gain profit, at the same time, he is with the industry that needs it most, i.e., those who are looking for friendly policies,” stated Mark Lee, a fintech policy analyst at ChainWatch.
What I t Means for the Market
At the time the crypto community was still riding high on the news that FreedomCoin had jumped b y 38%, the broader crypto markets had only a small rise on the hopes that regulatory headwinds may become softer under a new leadership team.
End Take
If this is only a lucky break or a revelation of darkening ties between crypto and politics, Trump’s that $57.4M deal digital assets and political capital are becoming the main games that are played.