Open in TheBrain

world liberty fin Witkoff zach WLF

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primary 8 26

NO MERRI

SEE DON JR, ERIC TRUMP

SEE PUTIN [DAD]

SEE ARAB PETRO SWF

SEE BINANCE MONEY LAUNDER TERROR PARDON BOUGHT TRUMP STABLECOIN?

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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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isis hamas etc child porn site money launder

trump failsons don jr eric world liberty have created no fin apps promised, small # employees

SEE WORLD LIBERTY FINANCIAL DON JR WITCOFF JR

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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."

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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.”


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PSW 4 26 CORRUPT STATS $ TRUMP KIDS BARRON

ARAB JUSTIN SUN SUE LIBERTY, DRONE PLUS GOLF MERGER

pakistan stable coin?

Trump HUMILIATED After Iran Negotiations BACKFIRE - YouTube

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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AN 4 26

President Donald Trump's profits from the presidency continue to grow, and so do the funds flowing to his friends and family.

NBC News Miami walked through some of the recent updates on Trump World's profits, which are scoring billions.

“I don’t think there’s any line right now between policy decisions and political calculations and the interest of the Trump family,” said presidential historian Julian Zelizer, from Princeton University.

Trump's conflicts of interest aren't new; they were a concern even before he entered the White House in 2017, when he said he would put his businesses into a "blind trust." It never happened, and he claimed that he knew nothing about the Trump Organization, as his sons were running the business. Indeed, they managed to negotiate

The White House and the Trump Organization claim there are no ethical issues. When Donald Trump Jr. was asked about profits from failed cryptocurrency during a conference, he complained, "Frankly, it’s gotten old."

However, during the first term, the Trump Org. wasn't doing deals in foreign countries. There were minor deals like trademarks in China and shortly after the first term, two Trump advisors were given billions by the Saudi Public Investment Fund (PIF): Jared Kushner, Trump's son-in-law, and Trump's former Treasury secretary, Steve Mnuchin.

In the first year of the second term, the Trump Org. has made deals all over the Middle East, including eight agreements, but not directly with foreign governments.

"But governments in authoritarian and one-party states rarely take a hands-off approach — especially when the business belongs to a sitting president," the report said.

That's particularly the case for the Saudis. Currently, a real estate tycoon with close ties to the royal family is developing a project. It will be a “Trump Plaza” resort on the Red Sea.

In Qatar, for example, Trump not only scored a multi-million-dollar plane that taxpayers retrofitted for him, but a Trump golf club and villa project is currently under development. The company that is part of the operation is owned by the Qatari government. The same thing is happening in Vietnam, where the *New York Times*reported the government took land from farmers to build a Trump resort. The report said that the government violated its own laws to do it. The country’s deputy prime minister signed off on the Trump Org. deal in a ceremony, the AP reported.

Meanwhile, what the countries got in return came from the United States. Qatar got U.S. technology, Vietnam got tariff relief and Saudi Arabia scored fighter jets.

The Trump Organization reinforced that none of its deals are done with foreign governments. The claim is that it is a coincidence that after deals were done in those countries, the government got something it needed.

A year after a deal was struck, it was exposed by the *Wall Street Journal* in January. Before the inauguration, a company linked to the UAE government, run by a member of the royal family, bought $500 million in crypto from Trump's "World Liberty Financial."

Then, another UAE company invested in Binance, an offshore cryptocurrency exchange, with $2 billion in digital currency called stablecoin, which came from the Trumps' World Liberty Financial.

"That allowed the Trump company that received the dollars to put it in safe investments such as bonds or money market funds and keep the tens of millions of dollars in interest for itself," the report said.

Suddenly, the new Trump government reversed restrictions on the UAE's access to U.S. chips. Binance founder Changpeng Zhao got a pardon from Trump, even though he'd pleaded guilty. He maintains that there was no connection between the Trump deals and his pardon.

World Liberty also denies any conflicts of interest.

It's only a portion of the cryptocurrency deals, the report said.

The White House alleged that any suggestion that the moves weren't "ethically sound" is either "ill-informed or malicious." It also falsely claimed that Trump's assets are in a trust managed by his children. While Trump pledged to have a blind trust in 2017, it never happened, a Common Cause investigation showed. In the new administration, Trump put about $4 billion in shares of his media company into a trust. There is no "blind trust" in the new administration either. There is, however, a revocable trust, that covers all of Trump's assets and is run by Donald Trump Jr.

The arguments from the White House "are belied by Trump’s failure to limit the appearance or reality that he is using his power to reward people who help enrich him," said *Mother Jones* in a March report. "Trump continues to benefit from the family companies now run by his sons, and ethics experts note that because Trump has not set up a blind trust, the president can keep track of who is paying or investing in those firms in hopes of influencing him."

NBC said that the Trump Organization claims it is “fully compliant with all applicable ethics and conflicts of interest laws” and added, “the implication that politics has enriched the Trump family is unfounded."

Trump, in January, told *The New York Times* that when it comes to potential conflicts of interest, “I prohibited them from doing business in my first term, and I got absolutely no credit for it. I didn’t have to do that. And it’s really unfair to them."

He added, "I found out that nobody cared, and I’m allowed to."

In January 2026, the Pew Research Center found that 42 percent of Trump voters were confident in his ethics. That said, in January 2025, that number was 55 percent. So, he's fallen 13 percent in a year, NBC cited.

In that same year, Forbes estimates Trump has increased his net worth by 60 percent, to $6.3 billion. Before he entered the White House, the Trump Organization was struggling, the report said.

Meanwhile, Donald Trump Jr. started a private club in the Georgetown neighborhood of Washington, D.C. There is a $500,000 "initiation fee." NBC compared it to the Yellowstone Club in Montana. In that case, members get access to multiple resorts, 50 ski trails and more than a dozen restaurants across an area the size of Manhattan. Don Jr.'s club is in a basement and is called the "Executive Branch."

"Meanwhile, as the two oldest brothers’ new drone company" is asking for Pentagon contracts and other government deals that would ensure the Trump's score taxpayer dollars for their companies. There are already companies with government contracts that one or both of the Trump sons have an ownership stake in. It includes a rocket motor maker, an AI chip supplyer and data analytics company, government records show, according to NBC.

When asked about the potential conflicts of interest, a spokesperson for Don Jr. said he doesn't "interface" with the government on companies in his portfolio. He complained that he shouldn't have to stop "living his life and making a living to provide for his five kids just because his dad is president." He said it "is, quite frankly, a laughable and ridiculous standard."

The report closed by saying, "A new investment firm that the brothers joined as advisers last year has raised $345 million in an initial public offering to buy stakes in U.S. companies designed to help their father revive America’s manufacturing base. After the AP asked Trump’s chief business lawyer about language in a regulatory filing stating the firm would target companies seeking federal grants, tax credits and government contracts, he filed a new document with that language removed."

Commenting on it, the Princeton historian, Zelizer, said that he thinks future presidents will be more restrained or be forced to be more restrained.

“[Trump] has shown politically there is no price to be paid to making money,” he said. “You know you can go there.”

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AN 2 26

Gizmodo reported on Donald Trump Jr. and Eric Trump’s Wednesday Mar-a-Lago conference pushing their family crypto company, World Liberty Financial.

“In many ways, it’s a victory lap for the Trump family, a recognition that there is no mechanism available to stop the unprecedented corruption that’s being done out in the open, as foreign governments and U.S.-based executives jostle to please the Trump regime and profit from their proximity to political power,” reports Gizmodo.

“We were the most canceled people in the world in 2020, 2021,” Eric Trump told CNBC host Sara Eisen. “And it’s really great to almost have this retribution where all of a sudden we start pushing an agenda. Our agenda was to modernize finance, to allow that to never, ever, ever happen to anybody again.”

“The part Eric Trump is leaving out,” said Gizmodo writer Matt Novak, “is President Trump’s attempt at a self-coup on Jan. 6, 2021, sending a violent mob to storm the U.S. Capitol in a bid to remain in power after losing the 2020 election. The president was banned from the major social media platforms, and his family was cut off from some banking opportunities over his effort to overthrow the government. The president has since sued JPMorgan Chase and CEO Jamie Dimon over the moves.”

Gizmodo also reports the Trump sons “bragged” to CNBC about how opening their own crypto company has given them “credibility.” But Gizmodo counters that World Liberty Financial’s stablecoin, USD1, is “a fiat-backed cryptocurrency that the Trumps have tried to tout as a brilliant hedge against the traditional financial system, an argument that doesn’t make much sense given how dependent it is on that same system for stability.”

Donald Trump Jr. remains irritated that the family was briefly debanked, and he did not appreciate how banks could drop a customer at their own discretion.

“Crypto totally democratizes the ability for people to transact, to do finance, to get the loans that they need for businesses that make sense. That didn’t exist for everyone,” said Donald Trump Jr., which is a “frankly idiotic” suggestion said Novak.

“Just last year, World Liberty blacklisted Justin Sun’s blockchain address, which has over 595 million WLFI tokens, due to suspicious transactions,” said Gizmodo. “… Every financial institution, whether it’s focused on crypto or traditional banking, has to follow certain laws and regulations and has the discretion to lock up funds or boot anyone it doesn’t like.”

When Eisen asked the Trump sons about the $187 million paid to Trump family reps by people connected to the Emirati royal family, Donald Trump Jr. insisted that his father had “nothing to do with it” and that the UAE investment wasn’t at all related to the AI chips that President Donald Trump immediately granted the UAE access to after their generosity.

“We’ve been dealing with the conflict-of-interest stuff for years. And they tried all this nonsense the first time around. Frankly, it’s gotten old,” Donald Trump Jr. told Eisen.

Novak points out that Jr. is referring to the fact that “no other White House in modern history has seen the president and his family profit in such a galling way.”

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AN 2 26

A bombshell Saturday report from the Wall Street Journal revealed that a member of the Abu Dhabi royal family secretly backed a massive $500 million investment into the Trump family’s cryptocurrency venture months before the Trump administration gave the United Arab Emirates access to highly sensitive artificial intelligence chip technology.

According to the Journal’s sources, lieutenants of Abu Dhabi royal Sheikh Tahnoon bin Zayed Al Nahyan signed a deal in early 2025 to buy a 49% stake in World Liberty Financial, the startup founded by members of the Trump family and the family of Trump Middle East envoy Steve Witkoff.

Documents reviewed by the Journal showed that the buyers in the deal agreed to “pay half up front, steering $187 million to Trump family entities,” while “at least $31 million was also slated to flow to entities affiliated with” the Witkoff family.

Weeks after green lighting the investment into the Trump crypto venture, Tahnoon met directly with President Donald Trump and Witkoff in the White House, where he reportedly expressed interest in working with the US on AI-related technology.

Two months after this, the Journal noted, “the administration committed to give the tiny Gulf monarchy access to around 500,000 of the most advanced AI chips a year—enough to build one of the world’s biggest AI data center clusters.”

Tahnoon in the past had tried to get US officials to give the UAE access to the chips, but was rebuffed on concerns that the cutting-edge technology could be passed along to top US geopolitical rival China, wrote the Journal.

Many observers expressed shock at the Journal’s report, with some critics saying that it showed Trump and his associates were engaging in a criminal bribery scheme.

“This was a bribe,” wrote Melanie D’Arrigo, executive director of the Campaign for New York Health, in a social media post. “UAE royals gave the Trump family $500 million, and Trump, in his presidential capacity, gave them access to tightly guarded American AI chips. The most powerful person on the planet, also happens to be the most shamelessly corrupt.”

Jesse Eisinger, reporter and editor at ProPublica, argued that the Abu Dhabi investment into the Trump cypto firm “should rank among the greatest US scandals ever.”

Democratic strategist David Axelrod also said that the scope of the Trump crypto investment scandal was historic in nature.

“In any other time or presidency, this story... would be an earthquake of a scandal,” he wrote. “The size, scope and implications of it are unprecedented and mind-boggling.”

Tommy Vietor, co-host of “Pod Save America,” struggled to wrap his head around the scale of corruption on display.

“How do you add up the cost of corruption this massive?” he wondered. “It’s not just that Trump is selling advanced AI tech to the highest bidder, national security be damned. Its that he’s tapped that doofus Steve Witkoff as an international emissary so his son Zach Witkoff can mop up bribes.”

Former Rep. Tom Malinkowski (D-NJ) warned the Trump and his associates that they could wind up paying a severe price for their deal with the UAE.

“If a future administration finds that such payments to the Trump family were acts of corruption,” he wrote, “these people could be sanctioned under the Global Magnitsky Act, and the assets in the US could potentially be frozen.”

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"GRIFTING NEPO-BABIES": The next generation of Trump ...}:

YouTube · MS NOW

30.2K+ views · 17 hours ago](https://www.youtube.com/watch?v=rChcwSozre8)

boulos sp husb tiffany

0:15

generation grifters or the grifting Nepo

0:17

babies. There's the adult sons of

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Commerce Secretary Howard Lutnik, who

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now help run their father's former Wall

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Street firm, Caner Fitzgerald. Just

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coincidentally, Canter Fitzgerald is on

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track to have its best year ever. The

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company has made more than double its

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previous record in revenues. The Lutnik

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boys made big bets on crypto crypto

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which appear to have paid off. Then

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there is Alex Witkoff, son of Steve

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Witkoff, Trump's envoy to the Middle

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East. According to the New York Times,

0:43

he's been quietly soliciting billions of

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dollars from Gulf States including Qatar

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on a planned investment fund focused on

0:50

commercial real estate projects in the

...

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AN 9 25

In the midst of the Trump regime’s shameful attempt to attack any and all organizations and institutions that oppose it, we must not and will not back down from holding Trump accountable for his corruption and lawlessness.

Yesterday, the New York Times — which Trump just sued for $15 billion for allegedly defaming him —reported that Steve Witkoff, Trump’s envoy to the Middle East, apparently made a multi-billion dollar deal with Sheikh Tahnoon bin Zayed Al Nahyan, a member of the ultrarich ruling family of the United Arab Emirates who controls $1.5 trillion of the Emiratis’ sovereign wealth.

In return for Sheikh Tahnoon’s investment firm depositing $2 billion into World Liberty Financial, a cryptocurrency start-up founded by the Witkoffs and Trumps, the White House agreed to give the U.A.E. — in particular, a sprawling technology firm controlled by Sheikh Tahnoon —access to hundreds of thousands of the world’s most advanced and scarce computer chips, despite national security concerns that the chips could be shared with China.

This is just the top of the iceberg of Trump’s crypto corruption.

To understand the full extent of it, you need to go back to four days before early voting started in 2024. That’s when Trump and his sons launched the crypto firm, World Liberty Financial.

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As soon as Trump won, money started pouring in.

Then, just days before returning to office, Trump launched a separate crypto scheme, selling TRUMP and MELANIA memecoins. Memecoins are a type of cryptocurrency based on an image or online joke.

Within his first six weeks in office, Trump called for a “Crypto Strategic Reserve”— a government backed stockpile of crypto assets, sort of like our oil reserve, but completely pointless. That announcement made crypto prices soar.

So far, the Trump family has made about $3 billion from crypto — with many purchases by foreign buyers. Forbes now estimates that over halfof Trump’s entire net worth is crypto-based.

With Trump acting as both the President of the United States and as his own crypto brand ambassador, it’s hard to tell which job he’s doing at any given moment.

One US company said it explicitly purchased $2 millionof Trump’s meme coins to influence trade policy.

The corruption goes further.

Trump’s pro-crypto SEC chair, Paul Atkins is heavily invested in crypto himself. He’s been lifting financial guardrails in ways that will make it easier for crypto firms (like the Trumps’) to spread into new markets, and going easy on crypto fraud.

Chinese billionaire Justin Sun had been charged with crypto-related fraud before Trump was elected. After Trump’s election, Sun invested more than $115 million into various Trump crypto products. What happened next? Trump’s SEC suddenly stopped prosecuting Sun.

Trump’s SEC also abandoned a lawsuit against Binance, a crypto exchange that had previously pled guilty to money laundering.

This happened just days after Binance started listing a Trump cryptocurrency on its marketplace.

The corruption goes even further.

Trump’s Justice Department even scrapped the National Cryptocurrency Enforcement Team, giving a green-light to all kinds of crypto crime, even though Americans lost $9.3 billion in crypto scams in 2024.

The crypto industry spent big on House and Senate races, on both Republicans and Democrats. Why? So the Senate would pass the so-called GENIUS Act — a regulatory bill that the crypto industry lobbied for. Eighteen Democrats joined with nearly all Republicans to vote yes.

The bill gives a stamp of legitimacy to so-called “stablecoins,” a type of currency that Trump’s World Liberty Financial makes and sells.

Stablecoins claim to be more stable because they’re supposedly tied to the value of other assets that are held as collateral — like the dollar or Treasury securities. But we already saw one collapse just a couple years ago, wiping out some investors’ life savings.

While the bill appropriately bans members of Congress and their families from profiting off stablecoins,it places no such restrictions on the president.

The most dangerous part of the GENIUS Act is how it allows crypto to reach into mainstream financial systems.

All this corruption is bad enough. Worse, it could tank the economy.

The GENIUS Act opens the door to institutions investing more heavily in crypto. It would even let banks and big corporations, like Walmart, Amazon, or Facebook, launch their own digital currencies — potentially thousands of them — all with little oversight.

Trump has also opened the door to letting retirement plan administrators invest 401(k) funds in crypto. That could put your savings at risk even if you never buy any cryptocurrencies.

As we saw during the 2008 financial meltdown, the more the economy becomes entwined with volatile and speculative investments, like crypto, the greater the risk to all of us. The failure of risky bets can have a domino effect.

If a single cryptocurrency began to tank — as crypto has done in the past — investors would likely rush to sell off crypto to get their real money back. This could lead to massive bank runs.

Treasury Secretary Scott Bessent has predicted that under the GENIUS Act, crypto firms could end up holding more than $2 trillion in U.S. treasury bills as collateral. If they had to suddenly liquidate those assets to cover a bank run, the value of U.S. securities could plummet, triggering a global financial crisis.

Crypto has shown no redeeming social value and it poses huge dangers to our economy. Yet Trump is enabling it to worm into the economy because he’s taken huge crypto payoffs that have made him and his family billions of dollars.

NOW READ:'Lucky Loser': Trump's 'psychotic' NYT lawsuit ridiculed by legal experts

*Robert Reich is a professor of public policy at Berkeley and former secretary of labor. His writings can be found at https://robertreich.substack.com/.

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an 8 25

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an 5 25 beast

President Donald Trump's eldest son, Donald Jr., is opening a new exclusive club in Washington D.C. And he's making it clear that only a certain kind of Republican is welcome.

The Daily Beast reported Monday that the new club, which will be called "Executive Branch," is tailor-made for the MAGA crowd — and its founders are making it clear that traditional conservatives and journalists will be barred from entering. David Sacks, who the Beast described as Trump's "crypto czar," told the New York Times he wants to make sure that the type of conservatives who frequent other GOP-oriented D.C. clubs will be turned away at the door.

“To the extent there are Republican clubs, they tend to be like more Bush-era Republicans as opposed to Trump-era Republicans,” hSacks said. “So we wanted to create something new, hipper, and Trump-aligned.”

READ MORE:'This is a disgrace': Trump ripped for 'outrageous' and 'divisive' Memorial Day diatribe

Aside from Trump Jr. and Sacks, other major investors in the club include Alex and Zach Witkoff (the sons of Trump administration Middle East envoy Steve Witkoff) along with investment banker Omeed Malik (who has separate business ventures with Trump Jr.) and Chris Buskirk, who cofounded the right-wing tech donor group "Rockbridge Network" with Vice President JD Vance. The founders will also be hands-on in approving would-be members.

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"[P]rospective members of the club have to be heavily vetted and approved by its founders," a spokesperson for Executive Branch told CNBC.

Membership fees may run as high as $500,000, in addition to an annual fee. And the spokesperson made it clear that the club was meant to serve as a safe haven for Trump in the event he doesn't want to fly all the way back to Mar-a-Lago in order to be around fellow travelers.

“We want people to feel comfortable having conversations in privacy," the spokesperson said, stressing that the media and corporate lobbyists would be blocked from the club's premises.

READ MORE:(Opinion) A veteran tells Trump 'to go straight to hell'

Click here to read the Beast's article in full, and click here to read the Times' full report (subscriptions required).

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Meanwhile, Trump’s sons launched a digital currency company, World Liberty Financial, in 2024, and took an ownership stake in a bitcoin mining venture called American Bitcoin last month. Trump’s own media company announced plans earlier this year to potentially buy bitcoin and other cryptocurrencies.

At least eight top officials in the executive branch disclosed crypto holdings in their financial disclosures, although some agreed to divest the assets. Transportation Secretary Sean Duffy, HHS Secretary Kennedy and Center for Medicare & Medicaid Services Administrator Mehmet Oz each reported owning more than $500,000 in crypto assets.

An HHS spokesperson told CNN that “Secretary Kennedy continues to adhere to all ethical and legal requirements.”

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an 525

President Donald Trump is continuing to blur the lines between the federal government and his private businesses as his family rolls out its latest cryptocurrency project.

The New York Times reported that Trump's son, Eric, recently appeared at a conference in the United Arab Emirates (UAE) alongside Zach Witkoff, who is a co-founder of the Trump family's World Liberty Financial cryptocurrency company. The two announced that the government of Abu Dhabi (the capital city of the UAE) was investing $2 billion into the Binance cryptocurrency exchange — the largest crypto market by volume — using a so-called "stablecoin" (a cryptocurrency designed to have a constant value close to $1) developed by the Trump family's company.

According to the Times, that deal is likely to net the Trump family a profit in the hundreds of millions of dollars. The Times' David Yaffe-Bellany wrote that World Liberty's work has "created conflicts of interest with no precedent in modern U.S. history" given the amount of foreign investors typically barred from making conventional political contributions chipping in large sums of money.

READ MORE:The Emmys take a shot at Trump with an eye-popping nomination

Justin Sun — a Chinese-born billionaire who runs the TRON cryptocurrency exchange — is a top investor in World Liberty. After Trump was elected, he bought $75 million worth of World Liberty's $WLFI coins. That purchase came after the Securities and Exchange Commission (SEC) accused him of manipulating one of TRON's cryptocurrencies. The Times reported that the SEC then asked a judge to pause the investigation into Sun after Trump was reelected last year.

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“I just got to thank you for the support, Justin,” Witkoff said during the Dubai conference. “TRON is just an incredible technology, and we’re lucky to be partners with you.”

Some of these investors and companies also have significant baggage in the form of criminal charges and convictions. In 2023, the Binance exchange pleaded guilty to charges that it had knowingly allowed criminals to do business on its platform. Its founder, Changpeng Zhao, is reportedly seeking a presidential pardon from Trump after pleading guilty to money laundering charges and serving a four-month federal prison sentence.

The World Liberty stablecoin is a separate venture from the $TRUMP "memecoin," which grew significantly in market cap after he began his second term. Trump has since offered a private dinner opportunity to some of his biggest memecoin investors.

READ MORE:BUSTED: Audio recording undermines top Republican's sworn denial of threats

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no lnx

Rollingstone

Raking It In

Trump Crypto Corruption Intensifies as Abu Dhabi Firm Invests $2 Billion

Sen. Chris Murphy called the president's crypto scheming the "biggest corruption scandal in the history of the American presidency"

By Nikki McCann Ramirez

May 1, 2025

President Donald Trump participates in a Cabinet meeting at the White House on April 30, 2025, in Washington, D.C.

Donald Trump and his family continue to cash in on cryptocurrency from entities looking to curry influence with the president and his administration — which is simultaneously working to deregulate the industry.

At a crypto conference in the United Arab Emirates, Eric Trump and Zach Witkoff announced that the Trump family’s stablecoin — World Liberty Financial’s USD1 — will be the vehicle for the state-backed Emirati investment firm MGX to invest $2 billion into Binance, the world’s largest crypto exchange.

The announcement comes weeks after Binance founder and former CEO Changpeng Zhao claimed he had “no discussions of a Binance US deal with … well, anyone.”

The transaction comes with a host of ethical baggage. For starters, World Liberty Financial (a decentralized exchange “inspired by Donald J. Trump”) is co-created and managed by Trump’s family — as well as that of Trump’s Middle East envoy Steve Witkoff, who has been functioning like a shadow secretary of state — and will now have direct financial ties to Binance, which in November 2023 pleaded guilty to financial crimes including money laundering, sanctions violations, and unlicensed operations. The exchange was slapped with heavy restrictions on operations within the United States. On top of that, the transaction involves a foreign government with clear political interests in the U.S. Much like Trump used his hotels as vehicles for foreign entities to court favor with the presidency, the signal being broadcast by World Liberty Financial is that the Trumps are open to investments.

While the president himself does not technically hold a position in World Liberty Financial, he is clearly involved in his family’s crypto ambitions. Days before his inauguration, Trump announced the launch of $TRUMP, a meme coin that made him billions overnight and then crashed within days. Last month, the president announced that he would be hosting an exclusive dinner for about 200 of the coin’s biggest investors at his Mar-a-Lago golf club.

According to an analysis by The Washington Post, the announcement of the dinner led to a more than 30 percent surge in the price of $TRUMP, with the largest investor dumping over $24 million into the coin. Several dozen buyers were willing to dump seven-figure sums into the coin, possibly in exchange for direct access to the president. Over at World Liberty Financial, the pattern is being repeated not just with individual investors, but nations.

According to an investigation by The New York Times, World Liberty Financial has raked in over $550 million in sales of their stablecoin and WLFI token. The Times found that in their pitches to potential investors, World Liberty Financial stressed their connections to the president.

“They kept telling us, ‘We’re like, we’re super close to Trump,’” Mike Silagadze, chief executive of the crypto startup Ether.Fi, told the Times. Dominik Schiener, the founder of a German crypto group who was also approached by World Liberty Financial, added that they found their pitch to be “very dishonest.”

Nevertheless, some took the offer. World Liberty Financial has established lucrative partnerships with crypto companies based in Hong Kong, Israel, and the United Arab Emirates, among others.

“Obviously [they] think they’re going to make money because it’s the officially endorsed Trump project,” SonicLabs founder Andre Cronje told the Times of a pitch they rejected from the company. “It’s a black spot on our industry.”

Lawmakers in the United States are taking note. As the president takes drastic steps to deregulate crypto, it’s hard to ignore how the industry’s domestic growth will benefit him and his family directly.

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Sen. Elizabeth Warren (D-Mass.) reacted to the news that World Liberty Financial would be participating in the Binance deal by writing today that “a shady fund backed by a foreign government just announced a $2 billion deal using Trump stablecoins. The Senate is gearing up to pass stablecoin legislation that will make it easier for Trump’s family to line their own pockets.

“This is corruption. No senator should support it,” she added.

Earlier this week, Sen. Chris Murphy (D-Ct.) wrote that Trump’s connections to World Liberty Financial — as well as his other crypto ventures — was the “biggest corruption scandal in the history of the American presidency.”

“You probably don’t have to scratch very deep to find an instance where the president has received an enormous infusion of cash to his crypto coin from a CEO or foreign oligarch who is then asking for a favor from Donald Trump,” the senator told MSNBC.

“A president of the United States should not be running a back-door bribery scheme — the equivalent of posting your cash app on the White House webpage — then we should make it crystal clear that that’s illegal,” Murphy added. “If we were doing our job, we would pass legislation saying that no president can monetize the White House by owning a crypto coin that he uses the official channels of the White House to sell to the public, to CEOs, to Saudi princes and anybody else who has business before the United States Congress.”

In this article: cryptocurrency, Donald Trump

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ggl 5 25

witkoff memecoin stable foreign

[### Trump's stablecoin chosen for $2 billion Abu Dhabi ...

Reuters

https://www.reuters.com › world › middle-east › wlfs-z...](https://www.reuters.com/world/middle-east/wlfs-zach-witkoff-usd1-selected-official-stablecoin-mgx-investment-binance-2025-05-01/)

4 days ago — A fund "backed by a foreign government just announced it will make a $2 billion deal using Donald Trump's stablecoins," said Warren, a member of ...

[### WLF's Zach Witkoff: USD1 selected as official stablecoin for ...

Yahoo

https://ca.finance.yahoo.com › news › wlfs-zach-witkof...](https://ca.finance.yahoo.com/news/wlfs-zach-witkoff-usd1-selected-093046749.html)

4 days ago — USD1 has been selected as official stablecoin for Abu Dhabi backed investment vehicle MGX's investment in Binance, Zach Witkoff, ...

Missing: memecoin ‎| Show results with: memecoin

[### World Liberty's USD1 Will Integrate With Tron

CoinDesk

https://www.coindesk.com › business › 2025/05/01 › wo...](https://www.coindesk.com/business/2025/05/01/world-liberty-s-stablecoin-will-be-used-to-close-mgx-s-usd2b-binance-investment-eric-trump)

4 days ago — Eric Trump announced that World Liberty Financial's stablecoin, USD1, will be used for MGX's $2 billion investment in Binance.

Missing: memecoin ‎| Show results with: memecoin

[### Trump's Crypto Corruption Intensifies With $2 Billion Abu ...

Rolling Stone

https://www.rollingstone.com › politics › politics-news](https://www.rollingstone.com/politics/politics-news/trump-crypto-corruption-abu-dhabi-deal-1235329793/)

4 days ago — At a crypto conference in the United Arab Emirates, Eric Trump and Zach Witkoff announced that the Trump family's stablecoin — World Liberty ...

[### Genius Act stablecoin Bill to receive Senate vote but ...

Ledger Insights

https://www.ledgerinsights.com › News](https://www.ledgerinsights.com/genius-act-stablecoin-bill-to-receive-senate-vote-but-democrat-support-wanes/)

3 hours ago — In mid-March the US Senate's Bill to regulate stablecoins, the Genius Act, was passed by the Senate Banking Committee with an 18 to 6 vote, ...

[### Trump's Crypto Venture Introduces a Stablecoin

The New York Times

https://www.nytimes.com › 2025/03/25 › technology](https://www.nytimes.com/2025/03/25/technology/trump-crypto-stablecoin.html)

Mar 25, 2025 — World Liberty Financial, the crypto business created by President Trump and his sons, unveiled a cryptocurrency called a stablecoin, furthering ...

[### Trump's crypto empire set to expand with new stablecoin ...

AP News

https://apnews.com › article](https://apnews.com/article/trump-crypto-world-liberty-truth-social-etf-f11c47a99ea618aa06df4dd47b150800)

Mar 25, 2025 — Witkoff and his father, Trump's special diplomatic envoy Steve Witkoff, helped launch World Liberty Financial with Trump and his sons last year.

[### As Trump's Family Crypto Business Gains Steam, Ethical ...

WIRED

https://www.wired.com › Business › Donald Trump](https://www.wired.com/story/as-trumps-family-crypto-business-gains-steam-ethical-concerns-mount/)

3 days ago — A crypto company part-owned by the Trump family stands to earn millions of dollars from a business deal involving a state-backed investment ...

[### Trump's World Liberty Financial crypto venture to launch ...

Reuters

https://www.reuters.com › technology › trumps-world-l...](https://www.reuters.com/technology/trumps-world-liberty-financial-crypto-venture-says-it-will-launch-stablecoin-2025-03-25/)

Mar 25, 2025 — The stablecoin, called USD1, will be fully backed by U.S. Treasuries, dollars and other cash equivalents and is designed to keep a value of $1, ...

Missing: foreign ‎| Show results with: foreign

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