"Crypto's Trump Ties: A Frenemy Alliance?"
1min read The cryptocurrency market is evolving into a strategic tool for the United States, with Bitcoin and Ethereum potentially occupying a "frenemy" position, according to CryptoQuant CEO Ki Young Ju. In a recent post, Ju stated that the market has become increasingly aligned with the interests of the U.S., particularly since the election of Donald Trump.
Despite the lack of proper regulatory measures to prevent "exit scams" and similar actions, a clear principle has emerged: "Follow the Trump administration's agenda and contribute to the interests of the United States." This principle is exemplified by the issuance of Trump meme coins. However, this trend may ultimately be detrimental to all countries except the United States, appearing to be a strategy to dominate the crypto market and attract foreign capital.
This trend is unfavorable for Bitcoin and Ethereum, which strive for neutrality and aim to be global public goods. According to recent statements, Bitcoin and Ethereum seem to be positioned as "neither friend nor foe" by the Trump administration.
The cryptocurrency market's alignment with U.S. interests raises concerns about the potential dominance of the U.S. in the crypto space. As the market continues to grow and evolve, it will be important to monitor the impact of this trend on the global crypto landscape and the role of Bitcoin and Ethereum within it.
