The Economist criticizes cryptocurrency for becoming the "ultimate swamp asset"
On May 16, the international current affairs weekly "The Economist" recently published an article stating that the encryption industry has been deeply involved in American politics. Many cabinet officials and the Trump family hold huge digital assets, and the $TRUMP token has been used for fundraising and lobbying. Companies such as Fr8 Tech purchase tokens in exchange for the opportunity to interact with the president. The article criticizes the industry for deviating from the original intention of decentralization and becoming a power rent-seeking tool, calling it the "ultimate swamp asset." In contrast, the European Union, Singapore and other places promote regulatory clarity while avoiding conflicts of interest. Note: "Ultimate Swamp Assets" is a critical expression used to describe asset types that appear to be high-tech or financial innovation but have actually become hotbeds of power rent-seeking, regulatory arbitrage and gray trading.
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