Former White House Communications Director: ”President Trump's cryptocurrency moves could lead to corruption”

A former White House communications director has raised concerns that President Donald Trump's cryptocurrency efforts could lead to corruption.
According to CryptoPotato, on the 7th (local time), former White House Press Secretary Anthony Skarmar
"President Trump's participation in the cryptocurrency space will open the door to a certain level of corruption," Scaramucci said in a speech at the Financial Times' Digital Asset Summit on the same day.
"At a time when political concentration is needed, President Trump's TRUMP Coin and World Liberty Financial are
"Cryptocurrency-related projects such as the Commerce Department's Financial Services (CFSA) are a distraction," he said. "Such projects create pathways for potential bribery, fraud and corruption."
"It's possible," he added. This comment was made based on recent data on the meme coin TRUMP, which is associated with President Trump.
According to Chainalysis, of the 2 million wallets that purchased the meme coin, 764,000 suffered losses, with only 58 wallets losing money.
Each of them made more than $10 million, totaling $1.1 billion. This profit-focused phenomenon is being blamed for "insider trading" and project transparency.
This has led to suspicions about sexual issues. TRUMP Coin has been on a steep upward trend, promising top holders an invitation to dinner with President Trump through its official website.
The event will take place on May 22 at the Trump National Golf Club near Washington, D.C., and the top 25 wallet holders will be treated to a reception and a tour of the White House.
After these announcements were made, interest in the coin skyrocketed, causing its market capitalization to soar to as much as $2.7 billion.
Since April 15th, about 100,000 new wallets have joined the project, more than half of which were created immediately after the dinner announcement.
At the same time, fees were automatically flowing into project-related wallets, even though 80% of the total supply was in a locked-up state.
However, insiders have already made more than $324 million. However, Anthony Skarmarch, who is in charge of the Trump administration's overall digital finances,
Regarding the industrial policy, he rated it as "between B+ and A-", and gave a certain degree of positive evaluation. In particular, White House cryptocurrency advisor David Sachs
Sacks sought to work with Democrats to build support for the idea of a U.S. Bitcoin reserve.
However, he was critical of President Trump's attempt to establish a US strategic bitcoin reserve through executive order.
Anthony Skarmachi said, "Executive orders are ineffective because the next Democratic president can revoke them at any time," and "such a strategy must be based on the understanding of both parties."
” he emphasized.