Opinion by: Elias Vilochkin, chief product officer of ChangeNOW
Bitcoin optimism is naturally running high. US President Donald Trump’s trade agreement with the UK has provided a jolt of confidence in global markets, and Bitcoin (BTC), as the ultimate borderless asset, is reaping the benefits.
Unfolding behind the Trump administration’s aggressive push to deregulate the crypto industry, however, is a consolidation of power that favors the few while ignoring the many.
Cryptocurrency was designed for the everyday person — those who had had enough of opaque financial systems that prioritize profit over the interest of the people. Bitcoin emerged from the ashes of the 2008 financial crisis as a radical experiment in financial sovereignty, not an exercise in empowering hedge funds and political elites.
That’s exactly what’s happening. Trump’s administration has taken steps to rapidly deregulate the industry behind a crypto-friendly agenda. His family’s crypto venture, World Liberty Financial, is a clear example. With direct ties to Trump’s sons, WLF launched its own stablecoin and digital tokens just as the administration began loosening oversight. At the same time, the Department of Justice disbanded its national cryptocurrency enforcement team, scrapping investigations that once targeted money laundering and fraud.
From financial freedom to political favoritism
Watchdogs and critics are raising alarms about conflicts of interest. Trump’s public enthusiasm for digital currencies is a business strategy. His administration’s aggressive deregulation benefits WLF and others like it, insulating them from scrutiny while they expand their financial reach.
What’s worse is the politicization of crypto itself. Coins linked to political figures, like Trump, are flooding the market. The rally around these so-called “politico-coins” concerns loyalty and influence. There’s growing concern that political actors leverage crypto to build new forms of centralized influence.
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Trump’s administration has painted itself as the great liberator of blockchain, but the final result looks more like capitalism, with the promise of financial empowerment being overshadowed by speculative gains. World Liberty Financial, flush with new capital, charges ahead while everyday investors are left navigating a landscape designed to keep them at a disadvantage. Everyone is receiving the message that financial freedom is for sale — but only if you’re in the right circle.
The unbanked deserve better than this
This isn’t the financial revolution crypto promised. It’s a rerun of the same old game: The powerful get richer, the regulators turn a blind eye, and the rest of us are left holding the bag.
It’s time for the unbanked, the underrepresented and those who have been failed by traditional finance to get their voice heard. We must strip away the political branding and return to the core mission of providing real financial access to those most in need.
That means showing people how crypto can help them in their daily lives instead of only talking about it conceptually as an investment. It looks like sending money home to family without losing 20% to remittance fees or saving in stable digital dollars when your local currency is crashing.
Trump’s take on crypto talks a big game about freedom, but underneath it, you’ll find the same old power structures at play. If crypto is ever going to live up to its potential, the community has to get back to what it set out to do in the first place: Break the mold, not reinforce it.
Opinion by: Elias Vilochkin, chief product officer of ChangeNOW.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
