Opinion: Pauline Shangett, Chief Strategy Officer of ChangeNOW
Optimism around Bitcoin is naturally high. The trade agreement between U.S. President Trump and the UK has injected confidence into global markets, and Bitcoin (BTC), as the ultimate borderless asset, is benefiting from this.
However, behind the Trump administration's active push for deregulation in the crypto industry lies a consolidation of power that favors a few while neglecting the majority.
Cryptocurrency is designed for the common people—those weary of opaque financial systems that prioritize profit over people's interests. Bitcoin rose from the ashes of the 2008 financial crisis as a radical experiment in financial sovereignty, rather than a practice that empowers hedge funds and political elites.
This is exactly what is happening. The Trump administration is taking steps to quickly deregulate the industry behind a crypto-friendly agenda. His family crypto business, World Liberty Financial, is a glaring example. WLF, directly linked to Trump's son, launched its own stablecoin and digital tokens as the government began to relax regulations. At the same time, the Justice Department disbanded its national cryptocurrency enforcement team, canceling investigations that once targeted money laundering and fraud.
Regulators and critics have warned of conflicts of interest. Trump's public enthusiasm for digital currencies is a business strategy. His administration's aggressive deregulation benefits WLF and similar companies, allowing them to expand their financial influence while avoiding scrutiny.
Worse still is the politicization of cryptocurrency itself. Tokens associated with political figures, like Trump, are flooding the market. The rallies around these so-called "political coins" involve loyalty and influence. There are growing concerns that political figures are using cryptocurrency to establish new forms of centralized power.
The Trump administration portrays itself as the great liberator of blockchain, but the end result resembles capitalism, with the promise of financial empowerment overshadowed by speculative gains. World Liberty Financial is filled with new capital and continues to move forward, while ordinary investors are left to navigate an environment designed to disadvantage them. The message everyone receives is that financial freedom is for sale—but only if you are in the right circles.
This is not the financial revolution promised by cryptocurrency. It is a replay of the same old game: the rich get richer, regulators turn a blind eye, and the rest of us are left to bear the consequences.
It is time for the unbanked, the underrepresented, and those let down by traditional finance to have their voices heard. We must strip away the political branding and return to the core mission of providing true financial access to those who need it most.
This means showing people how cryptocurrency can help them in their daily lives, rather than just discussing it as an investment concept. This looks like sending money home without losing 20% in remittance fees, or saving in stable digital dollars when local currency collapses.
Trump's view of cryptocurrency talks about freedom, but behind it, you will find the same old power structures at play. If cryptocurrency is to realize its potential, the community must return to its original goal: to disrupt the status quo, not reinforce it.
Opinion: Pauline Shangett, Chief Strategy Officer of ChangeNOW.
Related: Coinbase crypto lobbying group urges Congress to support important crypto legislation
Original article: “Trump's Cryptocurrency Agenda is Rigged for the Rich, Not the Average User”
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