There's a new reason to view Trump's crypto efforts as problematic

The Wall Street Journal published an interesting article this weekend about the challenges facing American businesses as they try to influence Donald Trump and his second-term agenda. Various companies, the report notes, are turning to unorthodox ideas.

According to the report, which has not been independently verified by MSNBC or NBC News, some executives are seeking to make appearances on podcasts hosted by Trump allies, for example. Meanwhile, some corporate lobbyists are recommending that companies clean up their websites to remove policies and terms that Republicans might not like.

But the Journal was particularly interesting in noting that executives are buying the Trump family's cryptocurrency token.

Obviously, they are not alone. The Washington Post reported:

Chinese cryptocurrency entrepreneur Justin Sun invested $30 million in President-elect Donald Trump's crypto project three weeks after the election, helping Trump make a potentially large profit. Sun … is under investigation by the Securities and Exchange Commission for fraud, market manipulation and other alleged violations. He announced the investment in the Trump project on November 25 on X.

The Post report adds that Suns' investment in the company raises questions about how and whether the next U.S. president could be influenced by his business ventures, and whether the crypto project, World Liberty Financial, can provide a potential means for individuals to seek to curry favor with Trump.

Do you think?

To be sure, Trump's cryptocurrency project seemed problematic from the moment it was announced in mid-September, 50 days before Election Day 2024. The Republican, a longtime critic of the industry, is appeared in a livestream and said: “Crypto is one of those things. we have to do. Whether we like it or not, I have to do it.

The New York Times reported that Trump chose a curious group of business partners, which included two little-known crypto entrepreneurs with no experience running a large business. The article added: During the live broadcast, he did not address the project directly, leaving the details to the two contractors, Chase Herro and Zachary Folkman. Mr. Herro described himself as the scum bag of the Internet, while Mr. Folkman taught classes on how to seduce women.

But as unfortunate as the enterprise seemed at the time, nearly three months later it seems even worse, as those who might want to impress the new president consider a new way to put themselves at his advantage.

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