TL;DR

Trump pardoned BitMEX, a crypto exchange fined $100M for criminal activity, effectively giving a ‘get out of jail free’ card to financial criminals and setting a dangerous precedent for future market manipulation.

Story

Trump’s BitMEX pardon: another nail in the coffin of financial sanity? Let’s unpack this dumpster fire.

BitMEX, a crypto exchange, got slapped with a $100 million criminal fine for letting money laundering and other shady dealings slide. Think of it like a casino knowingly letting gamblers use counterfeit chips.

Then, poof! A presidential pardon. The fine? Gone. The crime? Forgiven. It’s like a ‘get out of jail free’ card for financial recklessness—a move straight out of the Enron playbook.‣ Presidential Pardon: A decision by the president to forgive a person of a federal crime and eliminate any remaining punishment.

This pardon stinks of corruption. It sets a dangerous precedent. It tells other crypto cowboys they can break the rules, pay a fine (which might be pardoned later), and walk away scot-free.

What’s in it for Trump? Who knows. But this reeks of cronyism—another backroom deal that benefits the wealthy and connected while the average Joe gets screwed. ‣ Cronyism: Favoritism shown to close friends, especially in appointments to political positions.

So, what did we learn? Nothing new. The rich get richer, the powerful get away with murder (financially), and the rest of us are left holding the bag. Like the 2008 financial crisis, this story teaches us one thing: the system is rigged.

Advice

Don’t be fooled by crypto hype. Remember BitMEX: even if they get caught, the powerful might walk away. Do your own research. Trust no one.

Source

https://www.reddit.com/r/CryptoCurrency/comments/1jph9x0/the_potus_makes_history_by_pardoning_a/