Trouble in Paradise? Trump-Crypto love story is crumbling, WIRED reports

Crypto & Political Funding - Crypto community initially supported Trump, funding his campaign and other GOP races [1] - Trump's family members are involved in crypto ventures, further incentivizing crypto support [1] - Large crypto players like Coinbase and Andre Horowitz have close ties with the Trump administration, seeking favorable legislation [3] - Crypto donations during the campaign were primarily for political influence rather than promoting blockchain technology [12] Tensions & Policy Disagreements - Tensions arose before the Genius Act, with disagreements on merging it with a broader market structure bill [4] - The conflict was less about crypto policy and more about aligning with the White House's approach [4] - The Trump administration has low tolerance for bipartisanship, expecting crypto firms to align with their agenda [8] - Crypto firms are learning they will face pressure from the party in power and must navigate Washington's complexities [8][10] Potential Economic Impact - A breakdown in the relationship could impact funding for midterm elections and down-ballot House candidates [5] - Donor fatigue among crypto newcomers could affect future political cycles [6] - The market structure bill presents a significant financial opportunity, potentially mitigating a complete departure from the Republican party [6] - Legislation could boost the price of cryptocurrencies, allowing larger holders to sell their holdings [12][13]