According to Skybridge Capital founder Anthony Scaramucci, US President Donald Trump’s memecoin and other crypto companies are creating “pathways” for corruption.
Talk in Financial Times Digital asset summit Scaramucci claimed that the Trump family’s involvement in the crypto family (including President Solanamem Coin, World Liberty Financial and Trump Media’s partnership with crypto.com).
“Let’s give them all the benefits of doubt,” Scaramucci said of Trump and their crypto transactions. “But I think there is a pathway for some degree of corruption, potential bribery, and ‘Sinistansship’.
If we remove these “distractions,” Scaramucci, who served under President Trump for several days in 2017, said “it makes it easier for seniors who are still skeptical of the code in Congress.”
Scalumucci gave the Trump administration a “B-PLUS, A-MINUS” grade for crypto handling, pointing out that White House Crypto Czar David Sacks “does generally good work” and praised the efforts to side with Democrats on the US strategic Bitcoin reserve.
“There must be a bipartisan commitment,” he told the Crypto Sanctuary. “I don’t think that the President signing a strategic Bitcoin Reserve through an executive order is the answer for the US,” he insisted. Because it allows future Democrats to withdraw their orders.
“I think we hope there is no bipartisan commitment and discussion about what to do with the reserve,” Scaramucci said, likening the code to other US-owned products. “There is no debate in Congress about whether rare earth minerals or oil should be present in strategic reserves,” he added.
Trump Family and Code
President Trump’s involvement in cryptocurrency has sparked a surprising rise in among Democrats after he announced a gala dinner for the official Trump memecoin top holder.
A letter signed by Senators Elizabeth Warren (D-Mass.) and Adam Schiff (D-Calif.) warned that dinner could represent “pay payments to play” corruption, which would provide “exclusive access to the president in exchange for a hefty investment in one of the president’s business ventures.”
Warren also raised concerns about the USD1 stubcoin launched by World Liberty Financial, co-founded by Trump’s son Eric and crypto investor Zach Witkoff. In a tweet earlier this week, Warren argued that a “shady $2 billion deal between Emirati firm MGX and World Liberty Financial will allow USD1 to open the door to corruption when used as the settlement currency for MGX’s $2 billion investment in Crypto Exchange Binance.
Her intervention forced Democratic senators to cast obstacles to the Genius Act and to abandon Senate Republicans’ plans for rapid procedures to advance the bill.
On Tuesday, House Democrats led by Rep. Maxine Waters launched a strike on a hearing on the Digital Assets Act.
“We’ve come close to getting a stubcoin bill, but Trump has been extremely bravely encouraging ownership of Stubcoin, the crypto company,” Waters said. Decryption. “We’ll cadave investors by enriching himself and his family and bringing investors to the White House.
Edited by Andrew Hayward
