Trump’s Spawn Take Over Bitcoin Mining Company

The Daily Beast reports:

The Trump family has dived even deeper into the crypto world, as the president’s two oldest sons get into the mining game.

After President Donald Trump launched a memecoin in January and a stablecoin earlier this month via World Liberty Financial, Eric and Donald Trump Jr. are turning prospectors as they bolster the Trump digital currency portfolio by acquiring a 20 percent stake in crypto-infrastructure company American Bitcoin, majority owned by Hut.

The firm will merge with Eric and Don Jr.’s company American Data Centers as part of the deal. The Wall Street Journal reports that the deal is part of a grand scheme to create the world’s largest Bitcoin mining operation.

The New York Times reports:

These business ventures have created some of the most overt conflicts of interest in the history of the American presidency, according to government ethics experts. Since taking office, Mr. Trump has relaxed enforcement of the crypto industry and announced the creation of a government stockpile of Bitcoin and other digital currencies.

Four years ago, Mr. Trump was a crypto skeptic who dismissed Bitcoin as a “scam.” Now, he regularly promises to turn the United States into the “crypto capital of the planet.”

Publicly traded firms like Hut 8 run sprawling data centers packed with servers that power Bitcoin transactions. These mining operations have drawn complaints from environmental organizations and people who live near the noisy machines.

There’s much more at both links above.