Introduction 

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” President Donald Trump tweeted in July 2019. “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.” 

Seven years later, Trump has become the world’s foremost crypto salesperson, hawking nonfungible tokens, meme coins, governance tokens, stablecoins, and shares in a digital-asset treasury.  

“Trump’s crypto schemes have left investors at least an estimated $4.7 billion…