The Economist criticizes the U.S. crypto scene, claiming it has become politically corrupted.
The report suggests that crypto has strayed from its decentralized principles to serve vested interests and political influences, particularly associated with Donald Trump's circle.
Top players in the crypto industry are accused of engaging in lobbying and backdoor politics, raising doubts about their commitment to decentralization.
The article warns that if the crypto industry continues on this trajectory, it may end up as another opaque, insider-driven sector of finance, contradicting its original mission.