Bloomberg: Trump's new policies have plunged the cryptocurrency industry into a quagmire, and the US system lacks effective supervision over the president

BlockBeats News: On February 7th, Bloomberg questioned a series of actions taken by President Trump in the field of encryption after he took office, stating that President Trump and his entourage seem eager to establish their crypto empire. The family not only hopes to put the United States on a path of supporting encryption through more friendly regulation, but also wants to occupy a place in the good results. Based on the current (unstable) spot prices, Trump related entities currently hold TRUMP with a book value of approximately $14.9 billion, and the risks involved are equally incredible. As token buyers and industry insiders see an opportunity to please Trump, power money trading and corruption are sure to increase. In addition, moral hazard also exists simultaneously. When Eric Trump tweeted friendly hints that Ethereum was worth buying, he was by no means a neutral observer - he seemed to realize this when he removed the phrase 'you can thank me in the future' from his post on X. At the same time, the company has transferred most of its reserves to Coinbase Global Inc., although denying any plans to sell, it is difficult to evaluate the specific insider information involved. Trump's tariff policies will never benefit the cryptocurrency market, and Eric Trump's call for orders will also have limited effectiveness. Bloomberg believes that without effective enforcement and strengthening of regulation, the supervision of the president's actions will become ineffective, and currently Trump seems to be free from any constraints. The series of actions taken by Trump and Musk were characterized by textbook overconfidence, especially considering that Trump had also been convicted of fraud.