The crypto industry is suddenly at the heart of American politics
Thank the Trump family’s investments, friendly regulators and lavish election spending
IN LATE APRIL Fr8Tech, a logistics firm based in Texas with a market capitalisation of about $3m, initiated an unusual investment. It said it was borrowing as much as $20m to buy $TRUMP coins, a cryptocurrency Donald Trump had launched three days before beginning his second term as president. (“Join my very special Trump Community. GET YOUR $TRUMP NOW,” he urged on social media.) The company managing $TRUMP had just announced that the biggest investors in the meme coin would be invited to dine with the president in late May. Javier Selgas, Fr8Tech’s CEO, said buying the coin would be “an effective way to advocate” for the sort of trade policies Fr8Tech wants.
Explore more
This article appeared in the Briefing section of the print edition under the headline “Cryptocracy”
From the May 17th 2025 edition
Discover stories from this section and more in the list of contents
Explore the edition
The obscure Senate functionary whose word is law
Elizabeth MacDonough does more to shape legislation than most congressmen
The big beautiful bill reveals the hollowness of Trumponomics
Republicans mark America’s birthday with a profligate but insubstantial law
The war in Ukraine shows the West can re-arm without re-industrialising
Industrial capacity in peacetime is no longer necessary for success during war
How much did America’s bombs damage Iran’s nuclear programme?
Assessments vary wildly and it is impossible to know for sure
Israel’s war with Iran is over
But its impact is uncertain
Israel’s blitz on Iran is fraught with uncertainty
Much hinges on the stubborn supreme leader and America’s mercurial president