Trump Family Crypto Deal Shields Against Meme Coin Value Decline: Insights & Strategies

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Trump family’s crypto deal insulates them from their meme coin’s falling value

Happy Tuesday. Here’s your Tuesday Tech Drop, highlighting the significant stories from the recent week that intertwine technology and political affairs.

Trump’s Underwhelming Token Launch Amid Rising Profits

Donald Trump and his family are continuing their ventures into cryptocurrency, which have been criticized as some of the most overtly corrupt activities during his second presidential term. The structure of their deals seems designed to safeguard the family brand from the lackluster performance of these digital currencies. Recently, the Trump family initiated trading of their meme coin, the World Liberty token, which faced a lukewarm response reminiscent of past products like Trump Vodka or Trump Steaks. According to The New York Times, despite a disappointing opening day of trading—where the token initially gained value only to subsequently decline—the Trump family secured significant profits through a unique insider agreement. This arrangement highlights a troubling trend where the president and his family appear to engage in profit-driven schemes while simultaneously undermining federal programs and placing additional burdens on American consumers through their trade policies.

Meta Adjusts Chatbot Protocols

Meta is reportedly making temporary modifications to its AI chatbot systems to prevent them from engaging in discussions with teenagers about sensitive issues such as self-harm, suicide, disordered eating, and inappropriate romantic subjects. This decision comes on the heels of a recent investigation by Reuters, which uncovered instances of bots interacting with minors on these topics in ways that Meta had previously considered acceptable.

FTC Chairman Challenges Gmail’s Spam Filtering Practices

Andrew Ferguson, the chairman of the Federal Trade Commission appointed by Trump, has issued a warning to Google’s parent company regarding potential alterations to Gmail’s spam filters that could inadvertently filter out political emails. This issue has been part of an ongoing narrative where Republican figures claim that Gmail’s filters unfairly target their communications, alleging that important campaign emails are being hidden from potential donors. Ferguson’s correspondence asserts that if Gmail’s filtering practices restrict Americans’ access to expected communications or donations, it may violate the FTC Act’s guidelines against unfair or deceptive trade practices. In response, a Google spokesperson informed Axios that the spam filters are based on various objective criteria and are applied uniformly to all senders, regardless of political affiliation. The company is currently reviewing Ferguson’s letter and is committed to constructive engagement.

Kash Patel’s Partner Takes Legal Action Against Right-Wing Podcaster

Alexis Wilkins, who is in a relationship with FBI Director Kash Patel, has filed a defamation lawsuit against right-wing podcast host Kyle Seraphin. The suit arises from Seraphin’s assertions that Wilkins is an Israeli spy involved in a “honeypot” scheme targeting Patel. CNBC reports that Seraphin addressed the lawsuit during his podcast, noting that similar allegations regarding Wilkins have circulated on social media, gaining more traction than his own comments.

Social Security Administration Whistleblower’s Ouster

My colleague Steve Benen has provided an insightful analysis regarding the forced resignation of Charles Borges, a whistleblower and the former data chief at the Social Security Administration. Borges faced pressure to leave his position after he revealed that members of the controversially named Department of Government Efficiency had uploaded sensitive personal data of Americans to an unsecured cloud server, thereby creating significant vulnerabilities in data security.