It starts with a law that sounds harmless – and ends in a perversion of political responsibility. The U.S. Senate is expected to pass a crypto bill this week that supposedly aims to bring order to the market. In reality, it opens the floodgates to corruption. The law, known as the “GENIUS Act,” is intended to regulate stablecoins – those cryptocurrencies pegged to the U.S. dollar. It is the first major crypto law since the beginning of the digital boom – and the first instance in which a sitting U.S. president directly profits from it. Donald Trump, 47th President of the United States, along with his family, holds shares in a company called World Liberty Financial, which generates millions in revenue with the stablecoin “USD1.” In 2024, Trump reportedly earned over 57 million dollars from token sales, according to public disclosures. A meme coin featuring his face generated an estimated 320 million dollars in fees.
A clause in the bill prohibits members of Congress from profiting off stablecoins. But for the office of the president, no such restriction has been built in. The president is allowed to earn while regulating. Trump is allowed to cash in while discussing legislation with Coinbase CEO Brian Armstrong. He is allowed to influence billion-dollar movements while his family is already invested in a crypto project that directly benefits from the outcome of this debate. This is no longer just a conflict of interest – it is political buyability in its purest form. The Republican majority in the Senate supports the bill, joined by 18 Democrats. It is a fragile coalition – and one forged to the liking of the crypto industry. Coinbase, Binance, Kraken – all have poured massive sums into political advertising since the 2024 election. The crypto lobby ranked among the top three donors in the campaign. Now they are demanding the dividend on their investment.
Senator Elizabeth Warren warns of a “superhighway of corruption.” And she’s right. This law would allow Amazon and Meta to issue their own stablecoins – with minimal oversight. It makes it possible for the president to act as a private entrepreneur while influencing decisions that affect millions of Americans. And it shows how quickly a democratic system can become a mere facade when greed and power clash without constraint. The United States – once a pioneer of transparency and checks and balances – is veering toward banana republic territory, where economic interests outweigh constitutional principles. A country where laws no longer separate the legislative and executive branches, but blend them together, as long as it serves personal gain.
What is happening in Washington is more than a red flag – it is a systemic failure. A president regulates his own income streams, a Congress bows to the power of capital, and the public is pacified with a technical bill title: GENIUS Act. A cynical name for a law that sells out democracy. Anyone who still believes that oversight, ethics, and the public good are the driving forces of American lawmaking is being proven wrong. What is emerging here is not the future of financial markets – it is an authoritarian model of digital domination. If Europe is wise, it will watch closely. And it will draw red lines – for presidents, for investors, for systems that wish to regulate themselves. Because in these days, America is not sending out a beacon of democracy. Only the flickering light of a republic giving up on itself. GENIUS Act. Ein zynischer Name für ein Gesetz, das die Demokratie verkauft. Wer heute noch glaubt, dass Kontrolle, Ethik und Gemeinwohl die Treiber amerikanischer Gesetzgebung sind, wird eines Schlechteren belehrt. Was hier entsteht, ist keine Zukunft der Finanzmärkte – es ist ein autoritäres Modell digitaler Herrschaft. Wenn Europa klug ist, schaut es genau hin. Und zieht rote Linien – für Präsidenten, für Investoren, für Systeme, die sich selbst regulieren wollen. Denn aus Amerika kommt in diesen Tagen kein Leuchtturm der Demokratie. Nur der flackernde Schein einer Republik, die sich selbst aufgibt.
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