Trump's Crypto Corruption

In his first year back in office, President Trump reported at least two point two billion dollars in income. About one point four billion of it came from cryptocurrency.

The same week that figure landed, analysts counted the other side of the trade. Nearly a million wallets that bought his meme coin were down a combined three point eight billion dollars. The coin itself had fallen about ninety-seven per cent from its peak. This is the story of that gap. Of a family firm that sold almost half of itself to an Abu Dhabi royal days before the inauguration. Of an American technology partnership with the Emirates that followed. And of a constitutional machine that still has rules on paper but no grip on the man in the office.