Unpopular opinion, maybe, but public officials shouldn’t be able to profit off crypto. They need to amend the clarity act asap
"They made Jimmy Carter give up his peanut farm over conflict of interest when he became president. And Trump's family has been pulling in billions from crypto openly while he's president. So you may be asking, what's Congress going to do about that? Well, they're going to pass a bill that's going to let that keep happening. The Clarity Act sets the rules for crypto markets, and the House has already passed it. It's cleared the Senate Banking Committee, and the floor votes next. So now you remember when I told you that Trump's family was pulling in billions? The Trump family has a whole bunch in their portfolio, including a controlling 60% of a holding company. Behind the decentralized finance platform were a Liberty Financial. And not only that, Trump has his own meme coin, and the crypto industry was among the largest contributors to Trump's 2025 inaugural committee. Trump has also pardoned a convicted crypto executive. I mean, the list goes on. Also, the Trump DOJ disbanded its crypto enforcement team and narrowed criminal crypto enforcement, all while the SEC under the Trump administration dropped or wound down major cases against Coinbase, Kraken, Ripple, and others. This bill, the one that's supposed to be regulating crypto, says nothing about the officials that will be profiting off of it. That's why they need to amend the Clarity Act. Bar officials and their families from crypto investments while they're in office. Yes, I know it's absolutely crazy we even have to specify that. That's the only way we're going to close this loophole."
💬 Discussion
Unpopular opinion, maybe, but public officials shouldn’t be able to profit off crypto. They need to amend the clarity act asap