Who's Funding Trump's White House Makeover?
Big names in the crypto world are quietly bankrolling a huge project at the White House.
They're putting money towards building a new ballroom where the old East Wing used to be. But now, a senator wants answers, and most of these crypto bigwigs are staying silent.
Only one company, Coinbase, has spoken up so far. They said they're happy to support the project and will answer the senator's questions. But others, like Ripple, Tether, and Gemini, haven't said a word. They all got letters from Senator Richard Blumenthal, who's leading the investigation.
Blumenthal's Tough Questions
Blumenthal is asking tough questions. He wants to know:
- How much money these companies gave
- What they agreed to in return
- What promises were made
He's not alone in his concerns. Historians and preservationists are upset about the demolition of a historic part of the White House.
Crypto and Trump: A Close Alliance
This project isn't the first time crypto companies have supported Trump's initiatives. They've been close allies, even as the president has faced criticism for favoring his financial backers. The crypto industry has been pushing for friendly policies, and Trump has delivered.
The Controversy Over the Demolition
But the demolition has sparked controversy. Some say it's a step too far, and they're pointing fingers at the businesses funding the project. The National Mall Trust is managing the donations, but other groups are upset about the lack of public input.
Democrats Raise Concerns
Senator Elizabeth Warren and other Democrats have raised concerns about the influence of these donations. They're worried that big contributions could sway decisions and break the rules. Meanwhile, crypto leaders like Brian Armstrong and the Winklevoss brothers have been regulars at the White House, celebrating new laws and policies.
The Spotlight on Crypto
As the project moves forward, the spotlight is on the crypto industry. Will they continue to stay in the shadows, or will they step up and explain their role in this controversial project?