Are the tech billionaires taking over?
from The Global Story Hosted by BBC World Service
According to a recent financial disclosure, President Trump made more than $1.4 billion last year from business dealings in cryptocurrency. Though the White House has denied Trump was profiting from the presidency, he has been championing crypto in recent days — describing himself in one news conference as a, "big crypto guy". Trump’s embrace of crypto raises big questions about the future of the technology. But according to the new BBC documentary, 'The Tech Billionaire Takeover', Trump’s support is just a fraction of the story. Presenter Matt Shea shows how cryptocurrency’s wealthiest advocates are steadily growing their power, and in some cases, even advocating for a total overhaul of government and commerce as we know it. Today, Shea joins us to explain what the tech billionaire takeover really is - and whether it is already begun. Audio for this episode was updated on 14 July to correct a factual error. The original audio said that the Trump family receives 75% of net profit every time the USD1 coin is sold. In fact, they receive 75% of net profit from a different crypto coin called $WLFI. (Photo: Reporter Matt Shea with Crypto billionaire Justin Sun in Hong Kong. Credit: BBC) Producers: Xandra Ellin and Aron Keller Executive producer: Bridget Harney Sound engineer: Travis Evans Senior news editor: China Collins
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