Rep. Zack Fields (D-Anchorage) on Alaska Fentanyl, Cryptocurrency, and President Trump

Send us Fan MailToday, Alaska state house Representative Zack Fields published an op-ed in the Alaska Current called: “Look at the Criminals who Donald Trump is pardoning.” The article explores pardons related to cryptocurrency. In Anchorage we have at least 3 crypto ATMs where folks can deposit cash and purchase crypto or sell crypto and withdraw cash.Cryptocurrencies are essentially digital money. From the very start, crypto has been an attractive investment for drug dealers. This is for several reasons: 1. Its pseudo-anonymity – cryptocurrency wallets are identified by a string of numbers and letters, not names. 2. Their decentralization – crypto transactions don’t rely on banks and those transactions can be performed without receipts – this reduces oversight from traditional financial institutions and law enforcement. 3. Large scale International transfers are much faster than through traditional banks. This enables criminal enterprises, like drug cartels, to move huge sums of money anywhere in the world almost immediately. 4. Cryptocurrencies like Bitcoin are the primary mode of payment for dark web market places where folks can purchase hacked personal information, drugs, and other illegal goods. Alaska Congressman Nick Begich is a big fan of Bitcoin. And according to reporting by Liz Ruskin at Alaska Public media he’s made a lot of money from it, turning a small investment into an asset now worth around $760,000. he’s the  sponsor of a bill in congress that would make the United States a crypto owner. Begich’s Bitcoin bill is similar to an executive order President Donald Trump signed in March, creating a “Strategic Bitcoin Reserve.” Begich has described it as a place to store wealth that would be similar to the U.S. gold reserves.The Trump family created a crypto business in 2024 called World Liberty Financial. In April of this year, President Trump ordered the disbanding of a Department of Justice crypto crime investigations team. In May, Binance, the largest cryptoexchange in the world, invested $2 billion in the Trump crypto enterprise. And just 3 weeks ago, Trump pardoned Changeng Zhao the founder of Binance who was serving a sentence after pleading guilty to money laundering charges – his company has laundered huge sums of money for Hamas and Al-Quaeda.