U.S. President-elect Donald Trump faced a flood of criticism throughout the weekend for launching a cryptocurrency token as the world prepared for his Monday inauguration and policies expected to benefit the industry that
helped Republicans take control of the White House and Congress.
“It is literally cashing in on the presidency—creating a financial instrument so people can transfer money to the president’s family in connection with his office,” Campaign Legal Center executive director Adav Noti toldThe New York Times. “It is beyond unprecedented.”
Jordan Libowitz, vice president for communications at Citizens for Responsibility and Ethics in Washington, also contrasted Trump’s move with behaviors of past presidents, telling Politico, “It is absolutely wild.”
