Monthly Archives: April 2025

Crypto-fascism & police-state fascism

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Steve Witkoff is crypto-connected, serving Trump-Musk as US Special Envoy to the Middle East. What isn’t being reported in the media, but crypto fascist theory predicts, is the establishment of a global network of crypto-fascist back-channels with governments, NGO’s & powerful international institutions such as FIFA.

Trump-Musk crypto-fascists are using bitcoin for its black ops, dirty tricks, etc, in the same lawless manner as the CIA. No US President has ever acted this way before, not even first-term Trump. Trump-Musk crypto-fascism is being kept secret to the public, but its blatant bias is practically out in the open now. To not see & understand these invisible tentacles of crypto-fascism is political blindness & revolutionary negligence.

The global hubs of crypto are Singapore, Hong Kong, Dubai, El Salvador, and now the US– which is the qualitative change. Another qualitative change is how quickly Trump-Musk arguments have moved out of the legal realm and into the arena of combat to defend workers & students against ICE snatch & grab goon squads.

To defeat Trump-Musk crypto-fascism, this murky phenomenon must be ruthlessly exposed & politically attacked for all its criminality & social pathology. Crypto is surely being used by Trump-Musk to fund the Proud Boys, etc, as crypto-fascism is now the open (& dirty) secret that no one in Washington or the fake media wants to discuss.

When Hitler took power in Germany in 1933, police state fascism was the form of Nazi government that terrorized the population with its Gestapo & SS. ICE is a limited form of that power in the US today under Trump-Musk, but it doesn’t have complete Nazi reach– yet. To achieve a fascist takeover, nefarious means are required and a chief vehicle for that end is crypto which allows fascism is slowly creep-in without too many people noticing– until its too late. That’s the Trump-Musk crypto-fascist plan which must be countered & defeated.

Crypto-fascism 101: The US dollar is under pressure along with the bond & stock markets. In the wake of the extreme Trump tariffs, gold & bitcoin have become the “safe havens” for excess capital, which is becoming divided into two camps: traditional finance & crypto fascism. As of this publication, bitcoin is now over $94K as crypto is entirely supported by billionaire fascism– an objective social phenomenon.

The financial headlines today should read: “Trump calls off Fed attacks as bitcoin rises again,” but every economist & financial journal overlooks it for some unexplained reason. Serious economists understand the bond market freeze of March 2020 as a significant event leading to a massive taxpayer bailout, but bitcoin’s recovery in 2020 was just as remarkable, although more hidden so let’s review.

COVID infected the world by March 2020, as bitcoin sank to under $10k and was going nowhere. Then in October 2020, bitcoin began a meteoric rise to ~$60K that took six months to achieve, where it then yo yo-ed for about a year until it crashed again in March 2022 to ~$16K as crypto ventures began to fail left & right, culminating in the FTX collapse in November 2022. SBF & Silvergate, etc, crypto bank failures in March 2023 should have been the deathblow for crypto, but in September 2023, bitcoin began to skyrocket again and now it’s at $94K. What accounts for bitcoin’s resiliency & spectacular rise? Billionaire fascism.

Note that it was rising interest rates which started bankrupting crypto firms in the spring of 2022. It started when “stablecoin” TerraUSD fell to US$0.10, losing its peg overnight and never regaining it. The Fed halted its interest rate increases because capitalists were screaming bloody murder, none louder than the crypto fascists. The Fed’s idea was to cull the economic weaklings in order to save the whole, but the biggest weakling (crypto) found political support when Trump teamed with Musk which happened around this time. Coincidentally that’s when bitcoin took off and Grayscale beat the SEC in the US Supreme Court, etc.

At the March 7 summit, Trump proclaimed the crypto gospel, “Never sell your bitcoin.” He’s repeated that a few other times since, much more than any rational on the strength/weakness of the US dollar, I’ve noticed. Crypto Kool-Aid drinkers all know you don’t sell your bitcoin, because if you do, the price goes down. That’s how Ponzi schemes operate. It’s about inflating a very fragile market, highly manipulated by a few whales. One large bitcoin dump at the wrong time will crash crypto and Trump tends to panic when stressed, so… In revolutionary terms, taking down bitcoin is part of how to win.

The war between Trump-Musk crypto fascists and Federal Reserve Chairman Jerome Powell is a life-or-death struggle among the decrepit bourgeoisie. If the Fed decides to raise interest rates another point or two, then bitcoin death spirals to zero– meaning the end of crypto. Bitcoin-to-zero is the dagger that kills Trump-Musk crypto fascism.

Congressional legislation related to crypto and all the related political angles needs to be explained & analyzed. As far as tracking of crypto transactions goes, Trump-Musk and all their known crypto associates need to be tracked for wallet & blockchain activity– particularly El Salvador’s president who is deep into crypto. That murkiness exposed becomes raw meat for an angry public.

Classical Marxist economic theory must now be augmented with this dialectical conquest because the US government is now controlled by Trump-Musk crypto fascists, which is a qualitative change from what came before. Be aware there is a faction (flavor) of original crypto Kool-Aid drinkers who are upset over their ‘de-fi’ dreams becoming a Trump-Musk fascist monopoly. ‘De-fi Kool-Aid drinkers’ are the people most likely to be helpful to left-wing crypto detectives, but be careful about making noise when going into their forums. That’s the dialectical double-edge on that.

What I’ve outlined in the past weeks is how we got here with crypto, how to get through the looking glass dialectally, and where to go from there. It’s not easy gaining a historical materialist understanding of something as immaterial as crypto, so take any shortcuts you can find. Researching crypto is to enter the heart of darkness. This is naturally scary & daunting to humans, so to be effective in this domain, learn to behave like an arachnid. The idea of the crafty spider is to connect nodes by casting a web in the dark. Silently hone in on suspicious activity, while interconnecting and learning to interpret crypto web vibrations. This is how to achieve success at crypto investigation. Stick with the process, do the work, and you will be amazed at what you catch.

Marxist conclusion: The final take-home point theoretically is that Trump-Musk crypto fascism is not a stable regime. Its reliance on crypto makes it a “stablecoin transitional regime” attempting to establish a fascist dictatorship. Crypto is the hidden vehicle being used by Trump-Musk to achieve police-state fascism in America. Crypto-fascism is highly unstable and can blow up at any time so be prepared.

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Trump-Musk crypto-fascism

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The narrative is: Trump is pushing against Fed Chairman Jerome Powell which is weakening the US dollar. But for what purpose? Why does Trump want Powell replaced? Let’s be clear: Trump doesn’t care about the stock markets, the trade deficit, a strong dollar, or the nearly $37T national debt. These are vehicles Trump first appeases, and then uses to impose his will– nothing more. If you asked Trump to explain his tariffs and what impact they have on the US dollar, etc, he would just mumble more garbage, because he doesn’t really understand or even care.

The all-mighty bond market only gets Trump’s attention when it is under duress and JPMorgan Chase CEO Jamie Dimon speaks out. Apple complains about China tariffs hurting iPhone sales and the tariff gets withdrawn, etc, but that’s as much as Trump will acquiesce. He still holds a gun to all their heads and no one knows what he will do next. How is this to be explained?

Historically, Donald Trump only invests in his own ventures (real estate, casinos, airlines, reality TV, etc), and currently the Trump family is all-in on crypto. This is revealed in two separate, but related macroeconomic processes: the rise in the price of gold & a surge in bitcoin.

Gold is anti-crypto. Gold has had material use value for eons and thus will continue to retain its value. Gold can be used for dental fillings, jewelry, conductors & semi-conductors, etc. Gold doesn’t tarnish or rust, and it highly malleable, having many industrial uses. Gold is where wealthy crypto skeptics are putting their money now, which accounts for its increase, as the stock & bond markets continue to be under pressure from the tariff policies of Trump-Musk crypto-fascism.

Trump calling for the removal of Fed Chairman Jerome Powell is nothing less than a power struggle to control the global money supply. In simplistic terms, Powell & the Federal Reserve Bank represent the CIA Democrats & Warren Buffet, ie- traditional capitalist finance. Trump-Musk crypto fascism is something new, a bankrupt attempt to redefine what money is. It’s a struggle to the death between these two camps of elite capital, and it’s still undecided.

If the Fed decides to raise interest rates another point or two, then bitcoin death spirals to zero– meaning the end of crypto. Bitcoin-to-zero is the dagger that kills Trump-Musk crypto fascism. This is at the heart of the current Trump-Fed conflict.

Trump tariffs are provoking the most serious conflicts among elites, most of which are kept behind closed doors. Media leaks are become prevalent on White House crypto policy as the crypto-fascist character of the Trump-Musk administration becomes more & more clear to everyone.

Crypto-fascism is a secret & murky form of political-economy where foreign/domestic policies & intentions are kept hidden from the public and are increasingly paid for through illicit crypto back-channels. Trump-Musk connections with El Salvador’s president are among the most striking examples, yet to be fully uncovered. Crypto is now seeing massive inflows of billionaire capital to prop up the flagging industry, which entirely accounts for the rise in bitcoin.

Crypto elevates fascism to an extreme level of unaccountability, which is the political danger. Traditional financial paper-trails are eliminated by virtual wallets & private blockchains. It is extremely difficult for investigators, who aren’t familiar with computer coding, etc, to follow the money in crypto– and that’s by design.

Trump-Musk crypto-fascism is what follows the Biden-Harris plutocracy. It is the next logical step in the illogical process of late-stage capitalist degeneration. Today we exist in a fake economy that produces little innovation & value in every sphere: education, healthcare, art, film, music, sports, manufacturing, technology, etc. What is valuable, such as AI technology, is monopolized by big capital and used against the workers. The economic wasteland, created by decades of bipartisan class war, has opened up the terrain for Trump-Musk crypto-fascism.

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Trump tariffs & crypto

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Import tariffs are collected by U.S. Customs and Border Protection agents at ports of entry and are paid for by American businesses. Importers pass on the cost of the tariffs to consumers through higher prices so it is essentially a public taxation. The Treasury Department gets to spend the money collected from US tariffs, and currently Trump is stirring a major conflict within the Treasury Department through Elon Musk.

Trump also attacked Fed Chairman Jerome Powell last week, saying he should be fired immediately, instead of being replaced at the end of his term, which can’t come soon enough, etc. CNN has reported that Trump is considering former Fed governor and crypto startup investor Kevin Warsh to be Fed chairman once Powell’s term ends in May 2026.

In whatever manner Trump decides to use import tariff proceeds, it is to be at his discretion, as Trump has usurped the Congressional power to tax & spend. That is an overlooked aspect to Trump’s tariff strategy. No one asks Trump the obvious question, “What are you going to do with the tariff money?”

Politically speaking, Hitler & Trump are historical equivalents and both are compulsive gamblers who go all in. Crypto is how to read Trump’s next move. Now we’re beginning to seeing proof in the corporate media. Since I published my Trump-crypto theory last week here & here, the bourgeois press (for the first time) has taken up the issue. For example, the New York Times featured an Op/Ed the weekend titled: “What Trump Is Doing With Crypto Should Worry Us All.”

“Crypto crooks congregate & conspire in the White House” was published on my site on March 7, 2025, where I outlined Trump-crypto. In a surprise & rambling opening announcement to that meeting, Trump touted a sponsorship deal with FIFA for World Cup 2026 to be played across North America and apparently crypto will be the product. As with all Trump schemes, details were sketchy, but why else would FIFA be at Trump’s White House crypto summit? FIFA is a powerful international organization, so them partnering with Trump on crypto was serious news, yet no one in the bourgeois press analyzed or discussed it.

Since then bourgeois economists, business executives, etc, have been confounded & bewildered by Trump’s policy moves. Big business needs to be able to read Trump, which is why my Trump-crypto theory is now gaining popular traction– in a diluted form & without me being mentioned– of course. It takes a Marxist to figure it out, which is what they hate.

Trump is clearly addicted to crypto, which is driving his policy decisions. Crypto is extremely unpopular with the public, as I estimate ~95% of Americans believe it to be a Ponzi scheme– which it is. Just review readers’ comments on any mainstream soft-soap crypto article and you will see the popular disdain for bitcoin/crypto. Businesses & consumers paying more for goods so Trump can convert his crypto into cash via tariffs deposited into the US Treasury is an explosive revelation. That’s why it is kept secret in the media & the White House.

Marxists are materialists so we judge Trump and his fascist cabal by what they do, not what they say to the press, because that’s all lies. Since I struck upon this Trump-crypto theory long ago, I haven’t seen one political action from him & his cronies that contradicts the premise. Everything Trump does & tweets reinforces his crypto criminality which he hides.

Sunday afternoon post-script: I’m watching the first weekend of the NBA playoffs on ABC while being bombarded by crypto propaganda. For instance, the LA Lakers & Clippers play in Crypto.com Arena. The crypto app Robinhood is displayed on the Memphis Grizzlies jerseys. Coinbase is running commercials claiming it is the “future of money.” These companies were under SEC investigation & faced prosecution for their criminal activities only a few months ago. Now that Trump is President again, they’re all running ads to promote their new found legitimacy.

Final conclusions for now: In macroeconomic & biologic terms, crypto whales are eating what’s left of the krill– ie, de-fi Kool-Aid drinkers remaining in crypto. Today there is virtually no new grassroots money moving into crypto; it’s all venture capital, hedge funds, big corporate, with banks looking to get back in after the Silvergate, Silicon Valley Bank, etc, crypto bank crashes of 2023.

None of these sober lessons, nor those of FTX/Sam Bankman-Fried in 2022, are to be mentioned under new Trump crypto policy. Crypto criticism could eventually get you snatched & grabbed off the street in the name of ‘national security’ and sent to a terror prison in El Salvador for the cost of a few Trump tokens. Who knows?

PAC money buys not only politicians’ votes, but favorable corporate media bias, which explains the media soft-soaping of crypto in the past few months after blanket skepticism from the DOJ/SEC/FTC, etc, under the Biden-Harris administration. Barron’s, Bloomberg, the WSJ, etc, all seem much more open to crypto now, isn’t that something?

Too many blockchains is the biggest logistical problem in crypto right now. After bitcoin is “mined” by a supercomputer, it lives on a computer generated blockchain, which supposedly provides an ‘immutable digital fingerprint’ for security. Some blockchains are public (open source) and some private– which means casual users with high computer aptitude can’t check private blockchain code to see if there is any hanky-panky going on with that crypto.

Blockchains usually aren’t compatible with other blockchains, meaning bridges, roll-ups, crosschain aggregators, etc, are needed to move crypto from one blockchain to another, or to trade one form of crypto for another because bitcoin & etherium, etc, aren’t on the same blockchain. None of this was worked out when these cryptocurrencies were concocted, as every blockchain owner was too excited about making money for themselves to care about the ecosystem.

This spawned half-baked solutions such as “wrapped tokens” which are cryptocurrencies usable on different blockchains. For example, “wrapped bitcoin” is coded to operate on other (non-bitcoin) blockchains. This leads halfway, but no further, to the main technical problem in crypto today which is too many blockchains that don’t integrate. I don’t have these problems when I try to move US dollars in & out of my bank account. I just enter a PIN at the ATM and it spits out cash & a receipt. How is “blockchain technology” better? No one in crypto can answer that question with a straight face.

These interfaces (bridges, roll-ups, etc) between native blockchains are vulnerabilities that malicious hackers can exploit to steal crypto. Crypto is stored in a digital wallet, with a code key that must be remembered & safeguarded or else the crypto in that wallet becomes inaccessible & lost forever.

Some crypto requires creating a new wallet for that brand. The list of requirements for crypto security are seemingly endless, and still fraud is the industry norm. Friction among crypto users is high because of these critical issues which haven’t been solved. Basically the crypto industry has become an anarchist wasteland and that’s why they are looking towards Donald Trump as their savior.

Fragmentation (too many blockchains) of already thin liquidity levels of consumer investment has stifled support for an idea that was originally to be “de-centralized finance,” meaning anyone from anywhere could access the ‘crypto de-fi pool’ to trade tokens or cash out. Everyone was going to be a winner according to bitcoin economic theory. Instead there are thousands of isolated blockchains starving for capital, unable to efficiently link up and rally support amongst themselves as a ‘crypto community’ which they proclaim to be– but in fact aren’t.

Today, most crypto tokens aren’t worth trading or cashing out. Transaction fees, trade slippage, etc, eat up crypto profits for the krill, as they have to remain vigilant against rug pulls, fake wallets & other SBF-type flim-flams just to survive. The BIS has just stated that crypto increases global economic inequality, which predictably [!] has incited a hysterical denunciation from the Trump administration.

The crypto market changes so rapidly, allowing whales to manipulate large transactions while delaying krill trade orders into insolvency. Whales hogging digital bandwidth with their large transactions during times of financial duress is one method of crypto chicanery. Blockchains are bulky and therefore take more time to super-compute buy/sell/trade orders. The people who control the blockchains & platforms know all the dirty tricks and have all the power in crypto. It’s a completely rigged industry, based on nothing of value, while wasting billions in energy costs in order to maintain financial parasitism.

Trump-Musk crypto fascism: In marine ecological terms, the crypto whales have depleted the ocean’s krill by gobbling it all up, while turning up the temperature until all the plankton & phytoplankton necessary for life sustenance– dies. The biggest current problem according to crypto industry leaders is not being able to access those small remaining blockchains of tasty krill. Nothing else matters to these sickly-bloated whales.

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Convicted felon Trump decides who & what is “criminal”

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Someone whom on May 31, 2024, a New York jury found guilty of 34 felony charges in a scheme to illegally influence the 2016 presidential election through a hush money payment to a porn actresses is now deciding who gets snatched & grabbed by masked ICE agents and sent to a terror prison in El Salvador for the rest of their lives. Below is the Trump 2023 mugshot for federal racketeering and related charges in Atlanta.

Trump is surely a much bigger criminal than all of these abductees put together. Trump is a criminal, where these people who were “disappeared” by the Trump-Musk dictatorship mostly have no criminal convictions and very-little-to-no supporting evidence to back absurd government claims of them being a terrorist threat. These are simply test cases for a Gestapo police state under Trump.

Trump crypto connections to El Salvador are troubling & hard to ignore. How (& how much) is the government of El Salvador being paid for taking these US abductees? The White House initially said $6M and nothing since. Is there a crypto back-channel between Trump & Nayib Bukele? The less public information available, the more likely it’s crypto. Apparently this black site was Bukele’s idea to Trump, the same President of El Salvador who tried to make bitcoin into national currency a few years ago and failed miserably. Bukele’s proposed “Bitcoin City” funded by “volcano bonds” was perhaps the most insane proposal in crypto’s 15-year history– which is saying something.

When you accept this theory on Trump & crypto, everything starts to fit politically. Crypto allows Trump to go ahead with CIA-type operations because no one in the corporate media can find the money trail. Everything is “unverifiable” and thus any analysis is “unsubstantiated reporting” etc, even as clusters of red flags pop-up everywhere. Nayib Bukele visited the White House on Monday and while sitting next to Trump insisted Kilmar Abrego Garcia and all the others who were abducted by the ICE Gestapo would not be return to the US. I’m convinced crypto has played a nefarious role in these murky operations.

Bourgeois economists who don’t understand crypto are dinosaurs in their field… and then the meteor struck on January 21, 2025. The US President traditionally defends the bond market at all costs, while minimizing losses in the riskier stock markets. That’s what the ruling class demands. The Fed plays its crucial role by adjusting interest rates to loosen or tighten the money supply per ruling class whims, thus affecting inflation & the relative strength of the US dollar as the dominant global currency.

Those are the most sacred institutions of capitalism, but since bitcoin rose to prominence in the 2010’s a ghost money market has appeared known as crypto- not a black market, but a gray market. Right now the bond & stock markets are falling, while the US dollar is losing legitimacy as the primary global currency, and gold has reached a record high. And what is bitcoin doing? It’s holding at $84K, a key price point, by its fingernails. Massive injections of capital are now supporting crypto because of Trump’s policy stance & private ventures including World Liberty Financial– a crypto platform owned & run by the Trump family.

That’s Crypto 101 and its driving Trump’s every move because it’s all about the free money he can conjure up and directly translate into political power for himself. The bond market (and definitely the stock markets) are of secondary importance to Trump verses crypto, which is unbelievable, but apparently the case. Crypto explains Trump’s partnership with Elon Musk, in deep cutting federal funding for every civilian sector. The money “saved” will be looted largely through crypto criminality if Trump-Musk get their way with upcoming Congressional legislation. The PAC money has been spent. Crypto is Trump’s secret weapon and his Achilles’ heel if exposed & exploited, it’s a dialectical double-edge.

When you turn your felony mugshot into a memecoin, you’re bankrupt in every sense. Trump supporters are now insisting to Trumpians in Congress such as Marjorie Taylor Greene that they reign in their fuhrer’s excesses. These calls from the working class Republican constituency have been met with mocking derision & police violence by Trump’s loyal cadre in Congress. Trump should have been impeached and removed from power already in his second term. With the Supreme Court locked up for Trump (the ultimate get-out-of-jail-free card) and the Democrats sitting on their hands, the working class is the only political force that can stop fascism.

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Trump’s crypto playbook

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Donald Trump bankrupts everything he touches and that is a business fact– casinos, airlines, online universities, even football leagues have failed under his control. Then came reality TV, where Trump re-branded himself as a shark entrepreneur which helped him win the US Presidency in 2016. He lost in 2020, tried to overthrow the Constitution in 2021, then retreated to his Mar-a-Lago compound and hatched a new plan which included re-taking the Presidency & crypto.

Trump needed money during his inter-presidential years. He faced lawsuits of every type and was virtually bankrupt until he was once again bailed out, this time by his Truth Social IPO, which attracted billions from venture capitalists & hedge funds. Basically it was a ruling class tithe to Trump on his political future.

This is when Elon Musk became more & more tied to Trump. After buying Twitter, Musk allowed Trump back onto the platform which he had been banned since 1/6, which Trump then refused because he was now invested in Truth Social. Elon Musk was the primary economic force that rescued Trump from financial ruin after his electoral defeat in November 2020 to Joe Biden. That’s why he’s now Trump’s closest White House advisor.

Not coincidentally, Elon Musk, the largest bitcoin/crypto whale in the world, has turned Trump onto crypto. A bevy of legislative efforts are currently under way federally and in individual states meant to provide a regulatory framework that ensures no consumer protections while providing institutions federal bailout protections in case of industry insolvency. These are the purposes behind the GENIUS Act and other rubbish Libertarian nostrums currently being moved through both houses of Congress. The purpose of the Trump-Musk crypto campaign is to raid federal & state treasuries and replace their dollars with crypto. There is virtually no reporting or analysis of any of this in the mass media.

Meanwhile, SEC & FTC investigations & prosecutions into crypto criminality are being halted & abandoned as an economic policy of the Trump administration. Examples include:

Justin Sun, the Chinese-born crypto billionaire, inventor of the TRON crypto token and the USDD stablecoin. Justin Sun recently donated $75M in crypto tokens to World Liberty Financial (WLF)– Trump’s crypto platform. This made yet another SEC crypto investigation disappear, and WLF now owns huge stashes of TRON, etc. Take a look at this WLF portfolio screenshot:

Here’s an interesting reader comment I read on Yahoo: “Imagine if President Obama and his daughters were being funneled 75 million dollars from a Chinese national through crypto mined for and held in an account the Obama’s owned, so the Chinese national could have an SEC investigation in to his company scuttled. It would be on Fox News 24/7 and there’d be an immediate impeachment inquiry, likely with a few Dems on board. But when Trump does it it’s expected and tolerated. His diehards probably think it’s edgy and cool. The rest of the GOP is essentially complicit in this open crypto-corruption. It’s a pay to play admin and nobody will do anything about it. Notice how this story has zero traction.”

Recall that Justin Sun is the clown who bought a piece of “conceptual art” consisting of a banana duct-taped to a wall in late November 2024 and then ate the fruit a few days later. This “artwork” sensationally claimed to have sold for $6.2M, was paid for entirely in crypto, which was ridiculously overvalued then with bitcoin at ~$95K. So in crypto terms, Justin Sun paid 65.25 bitcoins for a duct-taped banana, not 6.2 million dollars as was widely reported. In terms of gauging the modern art market, 65 bitcoins is what a duct-taped banana is worth.

Gemini faced SEC allegations that the crypto firm offered and sold unregistered securities through its Gemini Earn program. In February, Cameron Winklevoss stated that the regulator had closed an investigation into a separate matter involving Gemini. Additionally, the company agreed in January to pay a wrist-slap $5M FTC penalty over “false and misleading” statements related to 2017 bitcoin futures contracts. Tyler & Cameron Winklevoss’ Gemini crypto exchange just opened a Miami office, as the lure of Florida for crypto companies is clearly linked to its ‘Wild West’ regulatory environment under Trump stooge governor Ron DeSantis, along with the absence of state income tax for residents. According to Bloomberg, Gemini filed confidentially for an IPO earlier this year.

Binance, is the largest crypto exchange in terms of daily trading volume. Binance was founded in 2017 by Changpeng Zhao, a software CEO who served four months in prison last year after pleading guilty to violating U.S. laws against money laundering at the world’s largest cryptocurrency exchange. “CZ” is still considered one of the most powerful players in crypto.

Coinbase was founded in 2012 by Brian Armstrong and is the largest U.S. based crypto exchange and biggest bitcoin custodian, holding 12% of the total supply. The SEC has agreed on February 27 to dismiss its lawsuit against Coinbase alleging that it was operating an unregistered exchange and facilitating the trading of unregistered securities. This signaled a major shift in US government policy on crypto.

David Sacks is Trump’s AI & crypto czar. Co-founder of Paypal, David Sacks has been a key figure in the tech industry for over two decades and is reportedly close with Elon Musk. Both Sacks & Musk surely helped Trump in taking over the crypto platform World Liberty Financial in 2024-25, finally getting the Donald a ‘respectable’ foothold in the crypto industry.

Everything in crypto now is moving towards stablecoins, which are tokens pegged to the dollar or some other currency at a 1:1 ratio. A recent Bank of International Settlements study of 60 stablecoins revealed they all lose their peg at some point, meaning they are the opposite of stable.

‘WLFI’ is Trump’s latest crypto token, and what is it worth you ask? Google AI has an answer: A World Liberty Financial (WLFI) crypto token is currently US $0.00000000000007093, with a 24-hour trading volume of $N/A. A Trump stablecoin (USD1) is in the works, with tokens to be minted on the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains– all owned & controlled by all DJT’s crypto cronies.

The Trump family gets 75% of net revenues from World Liberty Finance token sales, and WLF tokens are non-tradeable with holders not able to share in the profits. It’s the craziest disclosure agreement you would ever want to review, basically telling the buyer to “fuck off” after their money and/or crypto is transferred to WLF. Basically, the Trump empire will take whatever you want to trade in return for his worthless made-up crypto tokens.

What happens then? Since Trump was inaugurated, the TRUMP and MELANIA memecoins (Melania above) have lost 83% and 95% of their value, according to Coindesk. If you are looking for an indicator for which way things will go in crypto, Coindesk reported yesterday, “The TRUMP memecoin will undergo a major token unlock next week, with the team behind the project set to receive $320 million, around 20% of the circulating supply. The unlock might be another blow for the thousands of investors who reportedly lost a collective $2 billion after purchasing the token in January… Token unlocks are typically bearish events, as they involve flooding the market with fresh supply without providing incentives to drive demand.”

Apparently on April 9, Trump panicked and sold off large holdings of ETH at a huge loss just as his tariff hikes went into effect and as the financial markets were melting down. The Coindesk headline read: Trump-Backed World Liberty Financial Begins Selling ETH as Losses Top $125M– It sold ETH at $1,465 after buying it at $3,259. “Great time to buy,” was what Trump posted on Truth Social the day he was dumping ETH at a heavy loss. The next day (4/10), the Trump team denied their crypto dump publicly in order to restore investor confidence in crypto. What will the Trump position on crypto be tomorrow, who knows? It depends on which way the wind is blowing.

On February 5, 2025, Anthony Scaramucci, former Trump White House communications director tweeted, “Now anyone in world can essentially deposit money into the bank account of the President of the USA with a couple clicks. Every favor — geopolitical, corporate or personal — is now on sale, right out in the open.” The entire press media has resolutely declined to comment on this state of affairs.

The Senate Banking Committee is expected to soon mark up the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, a Republican-led bill co-sponsored by Sen. Kirsten Gillibrand (D-NY). Gillibrand has worked for years to push crypto-friendly legislation through Congress, and reportedly now has a critical mass of Democrats (bribed with millions from crypto PACs) ready to collaborate with the Trump White House.

Final thoughts: Crypto is the perfect vehicle for a billionaire mafia heist of treasury funds, 401K pensions, etc. Trump, Musk, Sacks and the rest of these crypto-criminals want everything for themselves and they now have the keys. This executive bourgeois criminality must be exposed & punished collectively by an organized international working class armed with a revolutionary socialist program. Historically speaking, crypto will be seen as the most extreme distortion of economic reality in late-stage capitalism. Materially speaking, most things that are fake actually had something real at some point, but completely bankrupt from its inception, crypto is unique in that it NEVER had any legitimate use value. To understand how & why we are where we are now is to understand crypto.

The half-baked Libertarians who contributed to the original bitcoin ‘white paper’ post-2008 crash have seen their de-centralized finance (de-fi) dream turn into a Trump regulatory money-making monopoly. Irony? Not really, these pseudo-revolutionary pencil-necks can’t see past next week– politically & economically speaking. This is the bitter end of a reality that began for the crypto industry when interest rates started going up after 10 years at near zero created an incubator for crypto. ‘De-fi communities’ once thrived online, spreading their bitcoin gospel incessantly on social media which became the primary grassroots driver for crypto legitimacy. Elizabeth Warren (D-MA) has reluctantly & all-too-late taken up the torch of liberal resistance in Congress, as she is about to be swallowed whole by crypto PAC money. Leading CIA Democrat Mark Warner is among those supporting Trump on crypto.

** Asterisk comments on the duct-taped banana Justin Sun purchased last fall. First, he ate the banana (not the original banana duct-taped to the wall because that one had rotted), but the question remains what did Justin Sun do with the duct-tape? He paid a lot of bitcoin for that, and there’s no mention of the duct-tape in the media reports I’ve surveyed. It’s all about a replacement banana and artistically speaking I can’t understand the duct-tape disconnect. Isn’t art supposed to be about the whole? Justin Sun has got a roll of duct-tape from which he can make a shitload of memecoins and what is he doing with it?

More importantly, does Sotheby’s accept bitcoin for their auctioneer fees? The actual sale price (in US dollars) was ~$5.2M, payable in crypto, which translated into 55 bitcoins. I suspect Sotheby’s doesn’t accept crypto for their cut, so the artist gets paid in bitcoin from the buyer, while the art house gets paid a million US dollars– a crystallization of capitalist art market economics.

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Wasting human capital

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Reuters/Markets headline: Treasuries, U.S. dollar sell off as Trump trade war drives recession fears

In Succession (2018-23) Logan, Kendall, Roman, Shiv & Conner constantly bounce stupid half-baked ideas back-and-forth, always choosing in the end to lean politically to the right towards fascism– and that’s how it ends up.

Two years later, we have in real life with the Trump administration the result of what was depicted in that HBO political drama series. In Succession, the 1%, and especially the 0.01% are clueless & impotent, back-filling their limitations with hysterics & rage. The power of money buys them everything, yet they still aren’t satisfied.

The most likable characters in Succession are the human throw-aways including: Tabitha, Jess, & (my favorite) Karolina. These minor characters are serious people who are intelligent & very good at what they do, but get no respect or love from those they dutifully serve. Without such talent, this parasite class would immediately shrivel up & die. These fictionalized conflicts wonderfully portrayed in Succession are actually real and are happening every day in all the institutions of bourgeois power.

Many of monied class don’t understand where money comes from at all, they simply perceive money as a divine right to be held by themselves. Inform them that money is a congealed expression of the value of human labor power, and the 1% gets hysterical and starts screaming for a fascist strongman.

It’s all very convenient for the puppet-masters of international finance & commerce. Their authority is never to be questioned, along with the 2-party political set-up and elite-biased court system. International law is ignored & attacked by US imperialism to further its predatory ambitions of world conquest and that’s how it is we are told. We are always fighting the evil Russians because of 1917, and we must submit because we are mere mortals compared to our demi-god leaders who are infallible.

The Frankfurt School of post-modernism provides the ideological justification for much of this propaganda, based on pre-fascist philosophers such as Friedrich Nietzsche in their writings on the “overman-superman”, etc, expressing an admiration for a strongman leader. German soldiers received copies of Nietzsche’s Thus Spoke Zarathustra as gifts during World War I, as a conscious attempt by the far right to divert the working masses from the Marxism of Lenin & Trotsky. The social Darwinism of ‘survival of the fittest’, Malthusianism depopulation, and the rest of this epoch’s pseudo-science are simply genocide-enabling bourgeois rationalizations.

Spinoza & Hegel are the philosophical & ideological influencers of Karl Marx. There is no ‘overman’ or ‘fuhrer principle’ with socialism, as that Nietzsche garbage belongs in the dustbin of history. What we currently have in the White House is a cabal of Nazis who think they can enslave the world and are determined to do so. The popular resistance they face is massive and unconquerable, yet the fascists insist on this fight to the death. The Democrats are aware and doing everything they can in their service of fascism to disarm & misdirect the working population.

The international youth & working class must organize itself independently from existing capitalist political forces, which are all lined-up for battle against the working masses. These hostile camps include the DSA & Greens, the union bureaucracies, and NGO’s/non-profits with their million ties to big business & the military-police state.

The police are of no help to the working masses, in fact they are brought in by criminal corporate & government officials to drive worker leaders out of the factories while arresting anti-genocide student protesters exercising their right to free speech on campus. I can’t remember the last time I heard of a real cop acting heroically, I suppose it happens, but I mostly read about police shooting & arresting people without cause and then being protected by the courts. I wonder why police abuse & terror and legal system corruption is never seriously discussed in the media? A lot of other people do to.

Deep in the Oval Office everyday, fascists are meeting and plotting their next attack on the population. Elon Musk & Stephen Miller appear to have the most influence over Trump at this point, which means anti-immigrant scapegoating, tariff wars & crypto. All these reactionary policies are implemented in a series of chaotic fits, then modified by unexplained zig-zags and walk-backs intended to placate political resistance until the death squads can take over. It’s remarkable to note that Biden-Harris had over a year to question Trump on all this during their election campaigns, but never seriously did so. Now the Democrats are acting surprised by Trump. For the rest of us, it’s like being forced to watch a hideously bad TV show every day.

A final word on acting: I’ve now seen Succession twice all the way through. It’s a beautifully done series on some really ugly issues and probably the best streaming content since House of Cards (2013-17). You certainly have to be in a certain mood to watch & appreciate it. Succession perfectly cast three amazing actors for extremely difficult roles in bringing humanity & likability to deeply-flawed characters in Jeremy Strong, Kieran Culkin & Sarah Snook. Succession viewers takes turns hating Kendall, Roman & Shiv, while fitting in touching human drama involving the human capital they are wasting & abusing. The Hollywood trap is to romanticize these characters into real life, instead of learning the political lessons, and thus absolving the ruling class from mass criminality.

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Modern Diet & Junk Food Cravings

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Human beings & popular culture keeps evolving. What I’ve noticed as I walk through life is how unhealthy much of the American population has become, including (and sometime especially) children. For reference, I’m Generation X and it wasn’t like this when I was a kid. So what are the causes?

For sure, advertisers targeted Gen-Xers during Saturday morning cartoons and any other children’s programming available back then– before cable & satellite TV. Then MTV, ESPN & TNT/USA came along and advertiser targeting became even more nefarious & precise. It is now a consumer fact that Gen-X and beyond craves Cocoa Puffs, Captain Crunch, Fruit Loops, Lucky Charms, Hostess snacks, Cheetos, Coke, Pepsi, Mountain Dew, McDonald’s & Pizza Hut. Kids my age were bombarded with millions of ads, while today’s internet kids see tens-of-millions of ads by adulthood.

So how do you control your junk food urges when watching TV or browsing the internet? To start, we must define junk food for everything it is. Junk food is a craving we can’t ignore, but it is a health-buster so it must be tamed. It’s all about correct identification, then finding substitutes & compliments.

For instance, after a certain point ice cream becomes a junk food. Everyone loves ice cream, but it’s a gut-buster, so I substitute cottage cheese in my diet and that handles my ice cream craving in most instances. I still have ice cream in my freezer for when the craving becomes the food I eat, I just eat a lot less of it since I substituted cottage cheese. Since cottage cheese can be boring by itself, it needs a compliment for it to be a sustainable substitute. I use jelly/jam or fresh fruit and that compliment gives the variety needed to sustain cottage cheese in my diet. That keeps the waist & ass leaner, while lowering the diabetes risk.

Rule #1 to a healthy diet is: Eat whole fruits & vegetables as staples. Peanut butter is a super-food that goes well with just about anything. So is milk, eggs & real cheese. This reduces meat consumption, while giving your body the necessary protein & good fats it needs. Remember that fresh is best and what is available depends on your geography. Learn to adapt– regionally, seasonally & economically.

For example if you juice cucumbers as part of your regular diet, and suddenly cukes aren’t available or become of poor quality, you must find an alternative source of juice & veggies. Fresh cucumbers are a super-food so making up the difference in lost nutrition will require a major re-adjustment to the fruits & vegetables in your diet.

I’ve mentioned super-foods a few times already, which is a generic term for nutrient-dense foods that give you health. Green peanuts & citrus are super-foods available in the southern latitudes of North America, while apples & cabbages are examples of super-foods that should be worked into a regular northern latitude diets. Consider juice or cider for citrus & apples if not in the native latitude. Understand that apples get mealy in the south due to extreme heat, so they are only super-foods when grown in the north.

Junk food is least damaging if it is consumed when all the body’s nutritional requirements have been met. Be honest with your deepest cravings and find a healthy alternative, particularly in the cereal aisle of your grocery store. Cereal is junk food, but Cheerios, Raisin Bran & granola are among its healthiest forms and can be substitutes. For me, Cheerios satisfies my potato chip craving and my stomach thanks me for it. A bowl of cereal with milk kills a lot of junk food cravings for candy bars, cookies, etc.

A hot air popcorn popper kills the corn meal junk food (Cheetos, etc) cravings. Eliminate bread & pasta from your at home diet, these starches are huge gut-busters, so only consume them when eating out. Substitute and find compliments. Vegetables need creamy dippers to encourage consumption, etc. You need to cover all your junk food cravings with always-available substitutes, otherwise these cravings will ruin your body & physical health. This is one of the most difficult challenges in modern life and one of the most important GenX lessons to learn.