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The Progressive

NewsWire

A project of Common Dreams

For Immediate Release
Contact:

Henry Burke: burke@therevolvingdoorproject.org

Revolving Door Project Condemns Trump’s Corrupt Crypto and Prediction Market Roundtable

Ahead of the White House’s planned cryptocurrency and prediction markets roundtable on Wednesday, The Revolving Door Project released the following statement:

“Donald Trump is not content with the billions of dollars in corrupt crypto wealth he has amassed since winning the 2024 election. On Wednesday, he’ll turn the White House into a hub for his crypto and prediction markets cronies to lean on independent agencies and a gridlocked Congress for a more permissive regulatory environment for these predatory corporations. The event will serve as a reminder to Congress of crypto’s deep ties to the president, and of their willingness to spend unprecedented sums in campaign efforts. But the fusion of Trump and crypto’s interests should not dictate federal law, especially when voters are broadly disgusted by the corrupting influence of these industries.” said RDP senior researcher Henry Burke.

RDP assistant director Timi Iwayemi added, “The cryptocurrency industry is eager to establish a financial system where scams and money laundering flourish. Their prediction market partners envision a society where gambling is venerated as a legitimate investment strategy. Their well-heeled political operation might have brought them significant influence in Washington, but it has come at a cost. Trump’s blatant corruption has eroded public trust, and prediction markets have jeopardized the legitimacy of our markets. This should be a tough pill for lawmakers to swallow. Wednesday’s meeting is a last-ditch effort to bring Congress onside and hand a victory to two of the most brazenly corrupt entities in the country: Trump and the crypto industry. But regulators and legislators should not be cowed. As recent election results have shown, crypto’s millions can only go so far, and voters are tired of their attempts to buy our democracy.”

The Revolving Door Project has been tracking Trump’s corruption closely, as well as the efforts by the crypto and prediction market industries to purchase influence in Washington. Below is a sample of relevant work on the topic:

Who’s in Crypto’s Corner?

Prediction Markets Are Learning From The Addiction Industry

Crypto Bill Offers Potentially Huge Tax Benefits To Trump Family

Why Are Any Democrats Supporting a Bill That Was Championed by the Crypto Industry?

RDP Condemns the Blockchain Association’s Deceitful Letter From “Law Enforcement Officials”

Trump’s ability to set crypto rules makes $TRUMP coin even more problematic

We Can’t Count on Trump’s SEC to Tell Us If He Is Manipulating the Market

Sean Patrick Maloney’s Vanishing Ethics Pledge

How Crypto Is Buying DC One Revolver At A Time

The Revolving Door Project (RDP) scrutinizes executive branch appointees to ensure they use their office to serve the broad public interest, rather than to entrench corporate power or seek personal advancement.