The Trump family's foray into the world of cryptocurrency is no surprise. As Trump seeks to regain the White House, he needs all the help he can get - particularly from Silicon Valley. The crypto community, on the other hand, is desperate for a friendly ear in Washington. They believe that Trump, as "crypto president," would bring a laissez-faire regulatory approach to the industry, a welcome change from the current administration's crackdown.

But what's behind this mysterious collaboration between the Trump boys and the crypto crowd? Eric Trump has "truly fallen in love with Crypto / DeFi," and Donald Trump Jr. promises a "huge" announcement that will "shake up the crypto world." Are they launching a token? Creating more MAGA NFTs? We've already seen the crypto shoes - what's next?

The Trump-themed DJT token, allegedly developed by Martin Shkreli, is currently tanking. Its value has plummeted 90 percent, dropping from $55 million to $3 million, following a sell-off of $2 million worth of the coin. Shkreli, who has a history of financial misdeeds, claims to have developed the token with Trump's son Barron, but nobody knows for sure who's behind it.

The crypto industry is trying to exert its influence in this election cycle like never before. It's joining forces with the Republican party and trying to get Trump elected, while also taking aim at progressive Democrats - and winning. Coindesk notes that the crypto community has devoted a seven-digit war chest to opposing candidates backed by Sen. Elizabeth Warren, who has been a vocal critic of the industry.

As the crypto bubble begins to burst, the industry is getting desperate. Asset prices are tanking, and the Biden administration is cracking down on fraudulent practices and companies. The industry fears extinction, and they think Trump may be their last-minute Hail Mary.

But what if we assume that the Trump boys' collaboration with the crypto crowd is just a publicity stunt? What if they're not actually launching a new token or creating more NFTs? What if they're simply trying to distract from their failing business ventures and grab some attention?

• The Trump family's foray into crypto is a clear attempt to curry favor with Silicon Valley and the Republican party.
• The crypto industry is trying to exert its influence in this election cycle by backing Trump and opposing progressive Democrats.
• The industry is getting desperate as asset prices tank and the Biden administration cracks down on fraudulent practices.
• The Trump boys' collaboration with the crypto crowd may be a publicity stunt to distract from their failing business ventures.

The Crypto Connection: Trump's Desperate Bid to Reclaim the Presidency

Actions