PANews reported on May 16 that the international current affairs weekly The Economist recently published an article stating that the crypto industry has been deeply involved in American politics, with many cabinet officials and the Trump family holding huge digital assets, and $TRUMP tokens being used for fundraising and lobbying. Companies such as Fr8Tech purchased tokens in exchange for opportunities to interact with the president. The article criticized the industry for having deviated from the original intention of decentralization and becoming a tool for rent-seeking, calling it the "ultimate swamp asset." In contrast, the European Union, Singapore and other places are promoting regulatory clarification while avoiding conflicts of interest.
Note: “Ultimate swamp assets” is a critical expression used to describe those asset types that appear to be high-tech or financially innovative but have in fact become hotbeds for rent-seeking, regulatory arbitrage and gray transactions.
