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‘I have never seen such open corruption’: Trump’s crypto deals and loosening of rules shock observers
- Cryptocurrency multibillionaire Justin Sun flaunted a $100,000 Trump-branded watch he received for buying $20m of the $Trump memecoin.
- Trump's dinner event for memecoin buyers raised $148m, drawing criticism for exploiting his office for personal gain.
- Critics like Steven Levitsky state Trump's actions show open corruption and a disregard for ethical norms.
- Trump's involvement in crypto ventures and regulation loosening has raised concerns about self-enrichment and conflicts of interest.
- The relationship between Trump and Sun has led to financial gains and eased regulations for crypto ventures during Trump's presidency.
- Trump's crypto dealings symbolize a significant shift towards deregulation and paper wealth accumulation while benefiting his allies.
- Various individuals, including scholars, prosecutors, and watchdogs, have criticized Trump's exploitation of his position for financial gain.
- The $Trump memecoin launch before Trump's inauguration resulted in significant profits but raised questions about leveraging the presidency.
- Trump's push for crypto deregulation contrasts with his past remarks on cryptocurrency as he aims to boost his financial interests.
- Concerns over Trump's crypto dealings have led to calls for inquiries and legislative action to curb potential corruption and conflicts of interest.
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