…Last, but not least, a crypto reserve would be a ready-made vehicle for corruption, creating colossal conflicts of interest over corporate regulation and government policy generally. Being included in a government reserve would be a huge boost to crypto assets, particularly less established ones. That would create major financial incentives for crypto bros to try to win favor with Trump, who himself has a huge stake in the memecoin $TRUMP. Committing the government to buying crypto would essentially institutionalize his administration's accumulating conflicts of interest.
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The crypto advocates' embrace of a crypto reserve speaks to the way that bitcoin and its peers have evolved from being revolutionary alternatives to the traditional financial system into little more than speculative vehicles; now the crypto lobby is asking Uncle Sam to inflate and support their prices. A crypto reserve would be a government-backed grift—one that makes the government itself the easy mark…
… What next—a federal Department of Sports Betting?…
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