"Why did Trump’s threat of all-out trade war with China cause crypto prices to plunge? Not because the economic damage from such a war would reduce the use of crypto, because crypto basically doesn’t have any legitimate uses. But an intensified trade war, especially a trade war America would almost surely lose, would drive Trump’s public support into an even deeper hole."
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"In 2017, during his first term, Trump described Qatar as 'a funder of terrorism at a very high level.' Since the gift of the plane, however, Trump’s posture toward Qatar has changed dramatically."
Then the gift of an airplane, and now the plans for a Qatar military training camp in Idaho….
"No president has ever used his office to rack up anything close to the estimated $5B Trump has hauled in for himself, selling everything from tacky gold sneakers to crypto. He has mastered the art of trading on access & enticing foreigners to pony up big bucks (and even an airplane). The most pro-corruption president in history also has stopped enforcement of foreign corruption, crypto fraud and other white collar crimes."
~ Jennifer Rubin
https://contrarian.substack.com/p/words-and-phrases-we-could-do-without-c92
"These days crypto derives its value largely from the support of politicians and government officials — in particular, officials who can be bribed. As a result, at this point crypto is largely a Trump trade. And crypto fell because the backlash against the potential trade war threatened to weaken Trump politically."
~ Paul Krugman
https://paulkrugman.substack.com/p/how-crypto-became-a-trump-trade
"Why did Trump’s threat of all-out trade war with China cause crypto prices to plunge? Not because the economic damage from such a war would reduce the use of crypto, because crypto basically doesn’t have any legitimate uses. But an intensified trade war, especially a trade war America would almost surely lose, would drive Trump’s public support into an even deeper hole."
"And this would reduce the ability of history’s most corrupt administration to keep showering favors on the industry that made Trump rich."
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