The Trump administration has relaxed regulations on cryptocurrency, leading to concerns of influence peddling. With the rise of crypto since Bitcoin’s inception in 2009, this sector includes various cryptocurrencies and projects, all supported by blockchain technology. Blockchain is a secure digital ledger allowing peer-to-peer transactions and ownership verification for digital assets, like NFTs.
The Trump administration’s approach to the cryptocurrency sector has stirred significant chatter. With regulatory constraints starting to ease up and a notable reduction in prosecutions against key players in the crypto space, there’s a rising concern among critics. They are asking whether this potentially cosy relationship with digital assets has opened doors to like influence peddling or even self-serving behaviours.
The field of cryptocurrency itself is vast and, to many, quite perplexing. Since Bitcoin burst onto the scene in 2009, there’s been an explosion of cryptocurrencies, projects, and investors emerging all around the world. This presents both a challenge and an opportunity for those trying to navigate the landscape.
So, what does “crypto” actually mean? Basically, it encompasses everything related to blockchain technology—a system of digital ledgers that allows transactions to be recorded across numerous computers. This system is designed to keep data secure and transparent, making it tough to tamper with. Cryptocurrencies like Bitcoin use these ledgers to enable value transfers without needing banks. Furthermore, non-fungible tokens (NFTs) leverage this same technology for confirming ownership of unique digital items, such as art or music. Plus, decentralized finance (DeFi) platforms cleverly utilise these ledgers to deliver financial services—lending, borrowing, trading—without traditional banks acting as middlemen.
