BlockBeats News, May 16th, The Economist's latest report pointed out that cryptocurrency has become the ultimate "swamp asset." Although the cryptocurrency industry initially dreamed of transcending politics, it has now become synonymous with self-interested behavior. The crypto industry has been deeply involved in US politics, with several cabinet officials and the Trump family holding huge amounts of digital assets, and the TRUMP token being used for fundraising and lobbying. Companies like Fr8Tech have exchanged tokens for opportunities to interact with the president. The article criticizes that the industry has deviated from its original decentralization purpose and has become a tool for power rent-seeking, calling it the "ultimate swamp asset." In contrast, the EU, Singapore, and other places are promoting regulatory clarity while avoiding conflicts of interest. Note: "Ultimate swamp asset" is a term with a critical connotation used to describe assets that, despite appearing high-tech or financially innovative, have actually become types of assets that facilitate power rent-seeking, regulatory arbitrage, and gray market transactions.
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