Trump Pardons Crypto Crook, Claims Ignorance: Yeah, and I'm the Queen of England
So, Trump pardoned Changpeng Zhao, this "CZ" guy from Binance, for enabling money laundering. Big deal, right? Except then he goes on TV and says, "I don't know who he is." Oh, come ON. Give me a freakin' break.
The "I Don't Know Him" Routine: A Classic
This is Trump's go-to move. "I don't know him." It's right up there with "witch hunt" and "fake news." It's like his brain is a broken record stuck on repeat. He pardons a guy who pleaded guilty to enabling money laundering, a guy whose companies partnered with Trump-linked firms, and then claims ignorance? Please.
Karoline Leavitt, the White House Press Secretary, says it was an "overly prosecuted case by the Biden administration." Right. And I'm guessing she also believes in the tooth fairy and that politicians never lie. This whole thing stinks like week-old garbage left out in the sun.
Trump says he was told Zhao was a victim of a "witch hunt." Seriously? Who told him that? Rudy Giuliani? Because that's about the level of legal genius we're dealing with here.
And then there's the hypocrisy. He's all about "making sure the US is a leader in crypto," but he's pardoning guys who are knee-deep in the shady side of the industry. It's like saying you support clean energy while simultaneously drilling for oil in your backyard.
Crypto Bros: Birds of a Feather
This Zhao pardon is just the tip of the iceberg. Trump also halted a fraud case against Justin Sun, another crypto dude, after Sun invested in the Trump family's crypto venture. It's a pattern, people. A greasy, self-serving pattern.
And don't even get me started on the Peraire-Bueno brothers, the MIT grads accused of pulling off a $25 million crypto heist. Apparently, the defense is arguing that it's just "bots being bots." Oh, okay, so if a robot robs a bank, it's not a crime? Makes perfect sense... not.
The article I read about the Peraire-Bueno case mentions that the SEC was already shutting down investigations into crypto companies before Trump's crypto-friendly appointee even took office. What the hell kinda signal does that send? For more on the case against the "crypto brothers," see Can the feds tame Ethereum's bot-eat-bot hellscape? Looming verdict for MIT's 'crypto brothers' could help decide.
Speaking of signals, my internet's been acting up all day. Probably because some Russian bot farm is trying to influence my opinion on… Wait, what was I talking about? Oh yeah, crypto and corruption.
The thing that really gets me is how these guys get away with it. They hide behind "complex algorithms" and "blockchain technology," hoping that most people will just glaze over and accept it. Well, I ain't glazing over.
Wisconsin's "Masterclass" in What Now?
And then there's this garbage about the Wisconsin Investment Board's Bitcoin investment being a "masterclass in disciplined fiduciary management." Some finance professor did an "analysis" showing it "barely increased risk while modestly improving returns."
Are you kidding me?
It's like saying lighting your farts on fire is a "masterclass in combustion management." Sure, maybe you won't burn down the house, but why are you even doing it in the first place?
This professor claims that Bitcoin's "price correlation with core bond holdings was effectively zero." So what? That doesn't make it a safe investment. It just means it's unpredictable. It's like saying a roulette wheel is a good investment because it's "uncorrelated" with the stock market.
The article goes on to suggest that we need "transparency" and "fiduciary education." No, what we need is to stop treating crypto like it's some kind of legitimate asset class. It's gambling, plain and simple. And politicians shouldn't be in bed with gamblers.
Then again, maybe I'm the crazy one here. Maybe everyone else is seeing something I'm not. Maybe crypto is the future, and I'm just a grumpy old man yelling at clouds. But I doubt it. I really, really doubt it.
So, What's the Real Story?
It's the same old story: rich people get richer, and the rest of us get screwed. Trump pardons a crypto crook, claims ignorance, and the world keeps spinning. Ain't that a kick in the head?
