From the shores of New Zealand, the political landscape of the United States unfolds like a peculiar theater production. Not the usual drama of left versus right, we've all seen enough of that, but rather a new kind of spectacle that blurs the lines between leadership, technology, and what can only be described as digital gambling.
Look, I'm not here to claim some kind of moral high ground from my corner of the South Pacific. New Zealand, for all its postcard perfection, grapples with its own demons: poor economic productivity, a culture of tall poppy syndrome, and mental health statistics that would make any policymaker wince. Every nation carries its own burden of imperfection.
But the United States? It has managed to craft something uniquely concerning in the intersection of power and profit.
Take the long-standing tradition of American politicians trading stocks. While this practice isn't exclusive to the U.S., what sets it apart is the conspicuous absence of robust conflict of interest controls. The response from the trading community has been surprisingly cavalier: "Why complain? Just follow their disclosures and profit alongside them." It's a perspective that's simultaneously pragmatic and deeply troubling, like finding a leak in your boat and deciding to sell tickets to watch it sink.
Yet nothing could have prepared us for the latest evolution of this phenomenon: the President of the United States himself venturing into the murky waters of "shitcoins", a term I never imagined would appear in serious political discourse. And let me be clear: this isn't about political affiliations or taking sides. This is about watching behavior that shouldn't be normalized, particularly from our elected leaders.
The creation of a cryptocurrency with deliberately poor tokenomics, followed by misleading statements about its nature, wouldn't be out of place in the shadier corners of the internet. But from a President and the First Lady? When one of the president's advisors creates a TikTok-themed cryptocurrency, orchestrates a "rug pull," and brazenly celebrates a $20 million profit, we're not just bending the rules, we're breaking the spirit of what crypto could be.
Here's the thing that really gets me: we're at this incredible moment in history. AI is transforming everything around us, and blockchain technology has the potential to revolutionize how we think about ownership, transparency, and digital rights. But instead of showcasing the utility and transformative potential of blockchain networks, we're watching the future president of the United States peddle shitcoins days before they take the oath of office for their own personal gain.
Chris Dixon nails it in "Read Write Own" when he talks about the computer versus casino culture in crypto. Every headline about political figures launching meme coins doesn't just damage their credibility, it actively pushes the entire industry away from meaningful innovation and toward becoming nothing more than a digital casino.
Look, I get it. Some folks made money off this trend, and good for them. But at what cost to the broader adoption and legitimacy of crypto? When our leaders choose quick profits over promoting genuine technological advancement, they're not just making a quick buck—they're actively undermining the future of an entire industry.
In this wild moment of technological revolution, we're letting the casino culture sacrifice tomorrow's potential for today's cheap thrills. The real gamble isn't in any meme coin, it's in letting leaders normalize this behavior while blockchain's true potential sits on the sidelines. That's not just a bad trade, it's folding when we're holding the winning hand.
