"Mr. Trump and his Silicon Valley backers may have taken different journeys to get to their embrace of crypto, but they have ended up in the same place: The government, and the population, exists to serve the interests of their businesses, their enrichment, and their aggrandizement. So the trick of libertarianism wasn’t on them. It was on us.
For decades, libertarians tried to sell us on wild notions like ending the public school system, abolishing the police, ripping up all environmental protection, canceling the Federal Reserve. None of those notions succeeded, perhaps because they attacked real-world institutions that we understand. It took an obscure technology, fueled by the Silicon Valley hype machine, mountains of dirty money and a massive gambling boom, to persuade millions of voters to embrace an extreme vision of individual freedom and decentralized money — and somehow overlook the authoritarianism and criminality that accompanied it all along.
Crypto is the most successful libertarian project in American history. A technology developed to escape the state is now at the political center of a global superpower. Crypto has become a machine for transferring control and wealth from the many to the few, a bribery-as-a-service platform for buying and selling influence among authoritarian oligarchs. It’s the perfect technological expression of the Trump moment: our country’s crypto era."
https://www.nytimes.com/2025/10/24/opinion/crypto-trump-libertarianism-corruption.html
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