The Economist Criticizes Cryptocurrency as the "Ultimate Swamp Asset"

On May 16, it was reported that the international current affairs weekly "The Economist" recently published an article stating that the cryptocurrency industry has become deeply involved in U.S. politics, with several cabinet officials and the Trump family holding substantial digital assets. $TRUMP tokens are being used for fundraising and lobbying. Companies like Fr8Tech are purchasing tokens in exchange for opportunities to interact with the president. The article criticizes the industry for deviating from its original decentralized purpose, becoming a tool for rent-seeking, and calls it the "ultimate swamp asset." In contrast, regions like the EU and Singapore are advancing regulatory clarity while avoiding conflicts of interest.

Note: The term "ultimate swamp asset" is a critical expression used to describe assets that appear to be high-tech or financial innovations but have actually become hotbeds for rent-seeking, regulatory arbitrage, and gray transactions.