The crypto industry is suddenly at the heart of American politics

Thank the Trump family's investments, friendly regulators and lavish election spending.

The crypto industry is suddenly at the heart of American politics. Thank the Trump family’s investments, friendly regulators and lavish election spending

IN LATE APRIL Fr8Tech, a logistics firm based in Texas with a market capitalisation of about $3m, initiated an unusual investment. It said it was borrowing as much as $20m to buy $TRUMP coins, a cryptocurrency Donald Trump had launched three days before beginning his second term as president. (“Join my very special Trump Community. GET YOUR $TRUMP NOW,” he urged on social media.) The company managing $TRUMP had just announced that the biggest investors in the meme coin would be invited to dine with the president in late May. Javier Selgas, Fr8Tech’s CEO, said buying the coin would be “an effective way to advocate” for the sort of trade policies Fr8Tech wants.

This article appeared in the Briefing section of the print edition under the headline “Cryptocracy”

Briefing

From the May 17th 2025 edition

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