This Planet Money episode explores the intersection of cryptocurrency and politics, specifically focusing on Donald Trump's involvement with meme coins and stablecoins. The hosts discuss the Trump coin, how it works, its potential legal implications, including foreign emoluments clause and election financing laws, and the identities of some top buyers. The episode then shifts to stablecoins, explaining their function as digital casino chips, their uses in crypto trading and international money transfers, and the potential risks and lack of protections for buyers. It also examines how stablecoin issuers generate revenue and the challenges faced by newcomers in the market, including World Liberty Financial. Finally, the episode touches on proposed regulations aimed at increasing transparency and accountability in the stablecoin industry.
