Trump Administration's Crypto Deregulation Favors Elites, Critics Say

Donald Trump's administration has been actively pushing for the deregulation of the cryptocurrency industry, positioning itself as a champion of financial freedom and innovation. However, this aggressive push has raised concerns about the consolidation of power and the favoritism towards elites, rather than the everyday user.

Cryptocurrency was initially designed to empower the everyday person, providing a transparent and decentralized financial system that prioritizes the interests of the people over profit. Bitcoin, for instance, emerged from the 2008 financial crisis as a radical experiment in financial sovereignty. However, the Trump administration's actions have led to a situation where the benefits of deregulation are primarily enjoyed by a select few, including political elites and hedge funds.

One clear example of this is World Liberty Financial, a crypto venture with direct ties to Trump's sons. The company launched its own stablecoin and digital tokens just as the administration began loosening oversight. Simultaneously, the Department of Justice disbanded its national cryptocurrency enforcement team, effectively halting investigations into money laundering and fraud. This move has raised alarms about conflicts of interest, as Trump's public enthusiasm for digital currencies appears to be a business strategy that benefits his family's venture and others like it.

The politicization of crypto is another concerning trend. Coins linked to political figures, such as Trump, are flooding the market. These so-called "politico-coins" are rallying around loyalty and influence, raising concerns that political actors are leveraging crypto to build new forms of centralized influence. This politicization undermines the core mission of cryptocurrency, which is to provide real financial access to those most in need.

Trump's administration has painted itself as the great liberator of blockchain, but the final result looks more like capitalism, with the promise of financial empowerment being overshadowed by speculative gains. World Liberty Financial, flush with new capital, charges ahead while everyday investors are left navigating a landscape designed to keep them at a disadvantage. The message being received is that financial freedom is for sale — but only if you’re in the right circle.

This isn't the financial revolution that crypto promised. It's a rerun of the same old game: The powerful get richer, the regulators turn a blind eye, and the rest of us are left holding the bag. It's time for the unbanked, the underrepresented, and those who have been failed by traditional finance to get their voice heard. We must strip away the political branding and return to the core mission of providing real financial access to those most in need.

That means showing people how crypto can help them in their daily lives instead of only talking about it conceptually as an investment. It looks like sending money home to family without losing 20% to remittance fees or saving in stable digital dollars when your local currency is crashing. Trump’s take on crypto talks a big game about freedom, but underneath it, you’ll find the same old power structures at play. If crypto is ever going to live up to its potential, the community has to get back to what it set out to do in the first place: Break the mold, not reinforce it.