PANews reported on May 16 that The Economist recently published an article stating that the crypto industry has been deeply involved in US politics, with multiple cabinet officials and the Trump family holding massive digital assets. The $TRUMP token is being used for fundraising and lobbying. Companies like Fr8Tech are purchasing tokens to gain interaction opportunities with the president. The article criticizes the industry for deviating from its decentralization origins and becoming a tool for rent-seeking power, calling it the "ultimate swamp asset". In contrast, the EU and Singapore are advancing clear regulations while avoiding conflicts of interest.
Note: "Ultimate swamp asset" is a critical expression describing assets that appear to be high-tech or financial innovations but have actually become a breeding ground for power rent-seeking, regulatory arbitrage, and gray market transactions.
