{"id":15646,"date":"2019-07-12T00:00:00","date_gmt":"2019-07-12T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/us-president-trump-unimpressed-with-bitcoin-and-facebooks-libra\/"},"modified":"2019-07-12T00:00:00","modified_gmt":"2019-07-12T00:00:00","slug":"us-president-trump-unimpressed-with-bitcoin-and-facebooks-libra","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/us-president-trump-unimpressed-with-bitcoin-and-facebooks-libra\/","title":{"rendered":"US President Trump Unimpressed with Bitcoin and Facebook\u2019s Libra"},"content":{"rendered":"

US president Donald J. Trump has revealed<\/a> publicly his position on blockchain<\/strong> and\u2026 (Surprise, surprise!)\u2026 he is \u201cnot a fan of Bitcoin and other cryptocurrencies<\/a>.\u201d<\/strong><\/p>\n

<\/p>\n

Trump took to Twitter to share his views about the flagship cryptocurrency for the first time since being elected president of the United States back in 2016. According to Trump, these digital assets \u201care not money\u201d citing the wild volatility that has plagued the coins since their inception.<\/p>\n

\"donald<\/a><\/p>\n

Additionally, he claimed that their value is \u201cbased on thin air.\u201d<\/strong> Not one to let the Twitter character limit stop him, Trump let the world know what he truly though in a tweet thread where he also added more opposing views on the innovative technology.<\/p>\n

\u201cUnregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….\u201d<\/em><\/p>\n

Facebook\u2019s latest attempt at disrupting the financial space also got the brunt of his tirade saying<\/a> <\/strong>that the Libra project will have \u201clittle standing or dependability\u201d as a virtual currency.<\/p>\n

Trump\u2019s tweets come at a rather interesting time. On the evening of the Twitter tirade, Trump held a closed-door meeting dubbed the \u201cSocial Media Summit\u201d in which the president invited a group of right-wing social media notables to discuss the social media industry. It was notable that representatives from leading social media companies including Facebook and Twitter were not invited to the \u2018Summit\u2019.<\/p>\n

\u201cIf Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National\u2026 …and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!\u201d His other tweets read<\/a><\/strong>.<\/em><\/p>\n

Suffice to say, this Twitter rant attracted a lot of opposing<\/a> views from the Crypto Twitter community.<\/strong> Unexpected of Trump, he has not posted any responses to the multitude of roasting comments against him on the platform.<\/p>\n

Just this week, Fed chief Jerome Powell also gave a disapproving testimony on the Libra project to the House Financial Services Committee on Wednesday. Powell warned that the proposed financial system \u201craises many serious concerns regarding privacy, money laundering, consumer protection, and financial stability.\u201d<\/p>\n

In his opinion, Libra\u2019s development plans \u201ccannot go forward\u201d until Facebook addresses those concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"

US president Donald J. Trump has revealed publicly his position on blockchain and\u2026 (Surprise, surprise!)\u2026 he is \u201cnot a fan of Bitcoin and other cryptocurrencies.\u201d<\/p>\n","protected":false},"author":5,"featured_media":15648,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[84,74,88],"tags":[4602,4656,4668,5001],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/15646"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=15646"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/15646\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/15648"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=15646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=15646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=15646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}