Present-day American politics is marked by a surge in private interests taking precedence over public duty, with former President, Donald Trump, honing the art, as reported by different media outlets. While the offspring of the current President Joe Biden, Hunter, may have also engaged in questionable activities, it doesn’t discount the fact that Trump’s administration, though only five months in, was deeply embedded in corrupt practices, growing more inclusive with every passing day.
During his campaign, Trump was quick to label his rival’s kin as the ‘Biden Crime Family.’ However, irony wasn’t far behind as it soon became apparent that the ‘Trump Crime Family’ was now the master puppeteer controlling the White House, with corruption trickling down to every nook and cranny of global influence. The exploitation of presidential power for personal gain wasn’t an entirely new idea; however, the extent to which the Trumps exploited their influential position was unheard of before.
The magnitude and depth of the personal profiteering that Trump and his family engaged in can be broadly categorized into several streams, the first being their tactical evasion of the Constitution’s Emoluments Clause. This clause expressly forbids presidents from engaging in profitable interactions with foreign entities. However, Trump, in a display of arrogance, accepted an extravagant jet from Qatar, provided for his personal and post-presidential usage.
The monetary value of this generous gift, formally given to the Air Force, was as staggering as its implications – at $200 million, it exceeded the cumulative value of all foreign gifts received by former American presidents. Experts opine, ‘This clearly signifies Trump’s direct and deliberate involvement in overseas dealings‚’ a viewpoint reinforced by a Saudi-sponsored golf event held at one of Trump’s clubs, where Trump interacted with his potential investors and clients.
The event at the Trump-owned club was perceived as a strategic attempt by the Saudis to influence American foreign policies. Though it may seem diplomatic in nature, its real intent was to foster influential relationships within Trump’s ever-expanding real estate empire. Besides such arguably legal strategies, Trump involved himself and his family in other forms of corruption, like trading access to high-ranking officials for financial gains.
An apt illustration of this manipulative monopoly is the Executive Branch, an ultra-unreachable club co-founded by Donald Trump Jr. The membership fee, a lofty $500,000, isn’t for any extraordinary amenities but functions as a ticket to interact closely with the power-holders in the White House. This cleverly crafted system ensured private interests of the members were prioritized, further deepening the roots of corruption.
Perhaps the most daring venture of the Trump family has been their foray into the convoluted realm of cryptocurrency. Trump, not one to be left behind in this digital race, has launched his own crypto meme coins, $TRUMP and $MELANIA. Meanwhile, his family has secured a substantial stake in World Liberty Financial, a crypto exchange that went live in October 2024.
This aggressive venture into the digital currency market has proved to be an extremely profitable move for the former president. An estimate by the watchdog group, State Democracy Defenders Action, suggests that nearly 40% of Trump’s financial assets, approximated at $2.9 billion, are held in cryptocurrency. This financial stronghold is expected to keep burgeoning as affluent investors from Asia and the Middle East scramble to hold onto Trump’s meme coins — and his attention.
In an unprecedented move, Trump uses his meme coins as a strategy to sell face time with himself, leveraging his position with cryptocurrency. Wealthy individuals are investing not only in the digital coins but also in the opportunity for intimate interaction with Trump, making it a double-edged sword of corruption. Such primal form of trading political influence for personal gain marks a new low in American history.
Trump’s monopolistic strategies aren’t just evident in his rein as the ‘regulator-in-chief‚’ of digital currency; they are further spotlighted by his dismantling of other ethical and legal boundaries prevalent in governance. The Trump family’s deliberate disregard for the rules is evident, even from their candid admissions of their manipulating tactics.
In a recent public statement, Don Jr., the former president’s eldest son, seemed to flippantly acknowledge their ongoing scheme: ‘They’re going to hit you no matter what. So we’re just going to play the game.’ This fatalistic attitude speaks volumes about their nonchalant approach towards the prevailing system.
However, the game that the Trump family is so nonchalantly discussing is anything but fair. Tossing the $TRUMP bitcoin coin into the air won’t give two equally likely outcomes. If it’s heads, the win goes to Trump, and if it’s tails, the loser is always the public.