World Liberty Financial
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an 8 26
President Donald Trump’s latest effort to seemingly profit off of his office is, according to some online conservative commenters, not merely unethical — it could seriously harm the US economy.
“The most corrupt family in American history,” former Rep. Joe Walsh (R-IL) wrote on X on Sunday. He cited a recent Wall Street Journal report on how a Trump appointee smoothed the path for his family-owned cryptocurrency firm to become an official bank. “And they can be so openly, so obscenely, corrupt because we don’t have a Congress, and because way too many Americans just don’t care. What a damn shame.”
Another conservative, The Bulwark founder Sarah Longwell, posted on X that this demonstrates how they are “the Trump crime family.”
The pair of conservatives were referring to a recent report by The Wall Street Journal's Vicky Ge Huang on how the Trump-controlled government body the Office of the Comptroller of the Currency granted preliminary conditional approval to turn World Liberty Financial into a bank.
“Upon final approval, World Liberty Trust will operate as a federally chartered national trust bank,” Huang wrote. “The charter will allow World Liberty to issue, redeem and safeguard USD1, the dollar-backed stablecoin that World Liberty launched last year. The stablecoin, whose reserves are currently custodied with BitGo, has a market value of about $4 billion.”
Because Trump has already profited immensely from cryptocurrency since starting his second term, the timing of the announcement exacerbates the prevailing impression that he operates with no regard for his myriad conflicts of interest.
“The approval comes as President Trump’s $1.4 billion earnings from his memecoin and crypto ventures have become the biggest roadblock for passing a landmark bill that would create a comprehensive regulatory framework for digital assets,” Huang explained. “The Clarity Act has stalled, driven in part by disagreements over ethics language that would prohibit government officials from profiting off digital assets. The bill is scheduled for a procedural vote on Sept. 15.”
The journalist added, “President Trump and his two sons helped launch World Liberty in late 2024 as a decentralized finance, or DeFi, project that would offer borrowing, lending and trading services. Those features still haven’t become available, but World Liberty now offers borrowing and lending through a partnership with Dolomite.”
Huang continued, “The crypto empire has created a huge chunk of his family’s recent windfalls. In 2025, he earned more than $500 million in proceeds from selling World Liberty’s token, WLFI, and an additional $263 million connected to the sale of equity in World Liberty to a group of investors led by Sheikh Tahnoon bin Zayed al Nahyan, a United Arab Emirates royal.”
Conservatives are not alone in denouncing Trump’s new band. Left-wing commentator Hasan Piker posted on X that “even [Turkish dictator Recep] Erdoğan and [Russian dictator Vladimir] Putin have to hide their corruption,” while Trump and his family “are doing it out in the open and there are still cattle that think he’s the second coming
More succinctly, Mother Jones journalist David Corn wrote that “suckers await.”
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AN 8 26 Trump graduates from petty grift to 'institutional graft': expert
U.S. President Donald Trump's net worth has continued to increase during his second presidency, reaching an estimated $6.5 billion in July (according to Forbes). The Trump-associated, cryptocurrency-oriented World Liberty Financial, which is playing a major role in Trump's profitability, became even more powerful when, on August 15, the Office of the Comptroller of the Currency, approved a back charter for the outfit. And journalist Rick Newman believes that Trump's "grifting" is soaring to a whole new level.
According to ABC News, "The decision marks the first time in U.S. history that a company owned by the sitting president's family has been granted bank status, as Democratic lawmakers express concerns over potential conflicts of interest."
During a Monday morning, August 17 appearance on MS NOW, Pinpoint Press founder Newman — known for his long history of financial reporting for U.S. News & World Report as well as Yahoo Finance — laid out some reasons why he finds it so troubling that World Liberty is being granted bank status.
When MS NOW host Stephanie Ruhle, sounding incredulous, commented, "This is crazy," she got no argument from Newman.
The Pinpoint Press founder told Ruhle and fellow journalist John Harwood (Ruhle's other guest during the segment), "World Bribery Financial, let's call it that. I mean, this is just the next step in Trump's self-enrichment scheme. This is not going to be a bank that holds customer deposits. So, if you're a Trump lover and you really want to put your savings in Trump's bank, you can't do that. Sorry. But what it's going to be able to allow them to do, I think, is sort of graduate from petty graft to institutional graft."
Newman continued, "So, one of the things they will be able to do with this bank is handle deposits for institutions — hedge funds or money firms or anybody else. Foreign institutions, things like that, where they have a lot of connections. They will make more money handling that stuff under the guise of: this is all part of a crypto company. So, here we go."
When Ruhle asked Harwood why major Wall Street CEOs like JPMorgan Chase's Jamie Dimon aren't commenting on Liberty Financial being grated bank status, he responded, "They're all hiding and cowering in the corner because they know Trump is likely to go after them…. He doesn't just make crypto deals to enrich himself, he starts a bank — and he gets himself deeper into the industry."
- YouTube Ruhle
www.youtube.com
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AN 7 26
An eccentric billionaire is accusing President Donald Trump of fraud relating to his family's biggest recent grift scheme, and in an interview with The Intelligencer magazine, further accused the president of "threatening" him to keep quiet.
Intelligencer called Chinese billionaire Justin Sun "one of the richest people in the world, having made his fortune in the no-rules early phase of the crypto industry" in its Monday profile, further detailing how he invested $30 million in the Trump family's crypto firm World Liberty Financial and joined it as an advisor in late 2024. The firm has emerged as the epicenter of the Trump family's cryptocurrency dealings, and, in the wake of numerous shady deals, is now considered its biggest overall financial venture.
As he moved forward with World Liberty Financial, however, Sun came to see the investment as a "colossal mistake," as the firm's promised products never materialized and its various tokens crashed in value, costing investors massive sums of money. In April of this year, he sued the company, "alleging fraud and breach of contract."
"Today, the thing I regret the most is not only that my money got stuck but that my name is on the project,” Sun told the outlet. “I believe many other people also got harmed... I never expected this to happen to me. This is the worst-case scenario."
He added further: “I thought surely these people would not do what they did with such a public profile attached. Looking back, I was wrong about that. Unfortunately, as alleged in the complaint, certain operators leveraged the Trump brand to profit through fraud.”
Sun's suit against World Liberty notably does not name either Trump or his sons, Donald Trump Jr. and Eric Trump, and he claims to remain an "ardent supporter" of the president. He insisted to one source who spoke with the Intelligencer that the suit is not a "political issue," and accused the company of acting "like young punk criminals" and giving the crypto a industry a bad name.
The company, meanwhile, did not sit back in response to Sun's suit.
"On May 4, a couple of weeks after Sun filed his suit, World Liberty sued him for defamation," the report detailed. "Represented by the law firm Clare Locke, which successfully sued Fox News over its 'big lie' coverage following the 2020 election, World Liberty tells a different version of events. Though sections of its accusations are redacted, World Liberty claims in the suit that it froze Sun’s coins to 'protect' itself and its investors from prohibited conduct by Sun. Just before the $WLFI tokens started trading, the company alleges, Sun placed a large bet against them, transferring $300 million 'to fund an aggressive short position.' It also claims Sun made 'straw purchases' on behalf of other investors. Notably, though, World Liberty did not sue Sun for breach of contract or fraud."
Sun dismissed this suit as an effort to silence him.
“I believe that World Liberty is trying to threaten me into silence, but that will not work,” he said. “I stand by the decision to speak out about conduct that I believe was improper and harmful to token holders... I believe the evidence will prove our allegations to be true.”
PSW 4 26 CORRUPT STATS $ TRUMP KIDS BARRON
ARAB JUSTIN SUN SUE LIBERTY, DRONE PLUS GOLF MERGER
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Apr 22, 2026 Pod Save the World
Tommy and Ben break down another chaotic and consequential week in global affairs. Trump blinks and extends the ceasefire with Iran, but the Strait of Hormuz remains closed as US-Iran negotiations stall. Meanwhile, an internal power struggle between Iran's elected leaders and military is complicating talks, and the human cost for ordinary Iranians continues to mount. In Lebanon, Trump stunned Israeli Prime Minister Bibi Netanyahu by publicly ordering Israel to stop bombing, but the IDF continues to occupy southern Lebanon, and an explosive image of an IDF soldier desecrating a statue of Jesus Christ threatens to erode evangelical support for Israel.
The guys also dig into the sprawling conflicts of interest and corruption plaguing Trump's foreign policy team: Jared Kushner's billion-dollar Gulf slush fund, Don Jr. and Eric Trump’s drone grift, and the Trump family’s foray into the crypto and fusion energy business. Finally, they talk about the historic election results in Hungary and Bulgaria,
Trump’s slow-rolling regime change efforts in Cuba, and reports that FBI Director Kash Patel is such a sloppy drunk that he’s become a threat to national security. Then Tommy is joined by former USAID official Nicholas Enrich to talk about his new book, Into the Wood Chipper: A Whistleblower’s Account of How the Trump Administration Shredded USAID. Preorder Ben’s book All We Say: The Battle for American Identity: A History in 15 Speeches and subscribe to his Substack here.
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