Presidents and Crypto: Entrusting the Fox with the Henhouse!

Former U.S. President Donald Trump once viewed Bitcoin and cryptocurrencies as empty and unreliable assets.

However, after being elected, he began making exciting statements about the world of crypto and blockchain. From the U.S. holding Bitcoin reserves to promises of making the country the capital of cryptocurrencies, we witnessed astonishing developments.

These events were seen as strong signs of a crypto market surge and the beginning of a golden age. But did it really happen? Let’s take a closer look:

• Meme token trading platforms (Pumpfun, Moonshot, Virtuals (AI agents)) were already heavily exploiting liquidity, creating a gambling-like atmosphere that led to both quick profits and significant losses.

• Following Trump’s statements, this "casino" saw an all-time high in transaction volume.

• Then, a meme token was listed: OfficialTrump Token. Like its predecessors, we initially dismissed it as just another scam. Even I personally labeled it a fraud. Given the strict regulations and interventions by the SEC (U.S. Securities and Exchange Commission), it seemed unbelievable that Trump himself would bypass this authority and launch a MEME token.

• But Trump didn’t stop there—he even announced it on X (formerly Twitter). Unbelievable!

• The token’s market cap exceeded $15 billion, and its unit price soared to $73.

• The craze reached such levels that over 200,000 people reportedly bought the token with their credit cards. This process, known as "Onramp" (off-chain credit card purchases), had been a long-standing dream for the crypto world.

• Even my friends, who had little or no interest in crypto, started calling me to ask how they could buy it.

• As the token price began to drop, another surprise emerged: MELANIA Token! Yes, you heard it right. If Trump could do it, why would the First Lady stay behind?

• The same frenzy started for MELANIA Token. Although it didn’t reach the same peak as Trump Token, it still experienced a large trading volume before inevitably declining.

• Then, yesterday, South America joined the game. According to a report from Uzmancoin, Argentine President Javier Milei launched a token called LIBRA (Bloomberg).

• LIBRA, too, reached significant trading volumes, only to experience a sharp decline shortly after.

The Outcome:

• Those who had inside information and bought early sold their tokens at peak prices, making millions—if not billions—of dollars. And, of course, the biggest winners were the presidents and their spouses themselves.

• While the crypto market was expecting a new influx of liquidity thanks to Trump, our "Blonde Hurricane" and his wife took what little liquidity remained and vanished. The Argentine president, it seems, scraped up the leftovers.

• While this may sound like a bad joke, the reality is that the crypto world was scammed at the presidential level. But is it over? No, we’re just getting started!

• Many other world leaders and influential political figures will undoubtedly follow the same path.

• The crypto community's plan to "invite the fox into the henhouse and make it grand" has, unsurprisingly, backfired.

Will this destroy the crypto industry? I don’t think so. It will merely filter out scammers and speculative gamblers. Meanwhile, projects that genuinely strive for utility and adoption, though struggling today, will eventually emerge stronger and more successful in the near future.