UAE 2 Abu Dhabi
#2 city
Dubai is the most populous city in the United Arab Emirates and the capital of the Emirate of Dubai.
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MMA SEE UAE SPY SHEIK CRYPTO
FOX NEWS’ PAST BIDEN CORRUPTION ACCUSATIONS PERFECTLY DESCRIBE THE UAE’S SECRET INVESTMENT IN TRUMP’S CRYPTO BUSINESS
02/05/26 ](https://www.mediamatters.org/fox-news/fox-news-past-biden-corruption-accusations-perfectly-describe-uaes-secret-investment)
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kush looking for another 5 bill$
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AN --> MSNBC?
Apr. 11, 2026,
By Matt Gertz
Fox News programs that fixated on the international business interests of Hunter Biden, former President Joe Biden’s son, are utterly uninterested in the voluminous conflicts of interest between President Donald Trump and his family members and the Persian Gulf states affected by his strategically disastrous war of choice against Iran.
The president, his eldest sons, Don Jr. and Eric, and his son-in-law, Jared Kushner, are enmeshed in a sprawling set of business deals in Saudi Arabia, the United Arab Emirates, Oman and Qatar. Those deals often involve members of the royal families of those states or the entities they control.
But since just before the beginning of the year, as Trump’s saber-rattling led to U.S. military deployments and became the war launched by American and Israeli forces on Feb. 28, through April 8, Fox’s evening programs that air from 5 p.m. to midnight ET have referenced such Trump family conflicts of interest only twice — both of which were passing mentions, and neither of which came during a discussion of the Iran conflict — according to a Media Matters review of the Nexis transcript database.
No substantive evidence ever emerged that Joe Biden profited from Hunter Biden’s foreign business dealings.
Many of the network’s highest-rated hosts carried out a yearslong obsession with what Fox host Sean Hannity described as the “Biden Crime Family,” mentioning Biden’s son at least 13,440 times over a period of less than 16 months of Biden’s presidency. Their feverish conspiracy theory postulated that Hunter Biden had served as a “bag man” for his father, soaking up money funneled from foreign entities and kicking a share back to Joe Biden, who would then use his elected office to help his son’s business partners.
No substantive evidence ever emerged that Joe Biden profited from Hunter Biden’s foreign business dealings. The dealings in question largely occurred when Joe Biden was a private citizen, and the primary instance the conspiracy theorists have cited as evidence of him taking state action on behalf of one of his son’s clients — that he, as vice president, pushed for the removal of Ukraine’s top prosecutor in order to benefit one of his son’s clients — was manifestly bogus.
But Trump and his family members appear to have adopted influence-dealing on a dramatically larger scale than the Biden family was ever accused of. And the Trumps’ sprawling set of business deals with Gulf state royals and the sovereign wealth funds they control cannot be disentangled from the president’s decision-making in launching and continuing a war of choice against Iran.
Saudi Arabia and the UAE reportedly urged Trump to launch the war against Iran, and both states reportedly pressed the U.S. to protect them by escalating the conflict “until Iran is decisively defeated.” Qatar, meanwhile, traditionally serves as the regional intermediary between the Iranian regime and Western governments, and has pushed for negotiations.
Play
Former MAGA allies push back on Trump as Iran war fractures the rightMarch 25, 2026 / 10:27
Those states aren’t just U.S. allies whose views must be weighed by American leaders — their leaders have spent the past few years enriching the president’s family.
In perhaps the most noxious of the myriad entanglements, Sheikh Tahnoon bin Zayed Al Nahyan — an Abu Dhabi prince known as the “spy sheikh” for his leadership of the UAE’s intelligence service — secretly agreed to buy a huge stake in a crypto company partially owned by the president and his family, paying $500 million in what The Wall Street Journal described as a “hugely profitable” deal for its founders.
The dealing is so egregious that it even raised eyebrows in Trump-friendly circles. “You know what the difference is between the Biden family business and the Trump family business?” Fox News contributor Andrew McCarthy asked in a February piece for National Review. “You’d have to add two digits to the sum of Biden abuses of power, foreign entanglements, and corruption alleged in the report to get near what Trump has raked in just from the UAE.”
But that’s just one of numerous business deals in the Gulf involving the president’s family.
The network’s evening programs have mentioned the Trump family’s myriad Gulf state conflicts just twice since late last year.
The Trump Organization, which the president owns and Eric and Don Jr. oversee, is partnering with a developer who has ties to the Saudi government on a series of Trump-branded real estate projects in Saudi Arabia, the UAE, Qatar and Oman — including a $7 billion development deal financed by the Saudi Arabian Public Investment Fund, whose board of directors is headed by Saudi Crown Prince Mohammed bin Salman.
Kushner’s private equity fund received a $2 billion investment from the Saudi PIF — reportedly forced through by bin Salman over the board’s objection — as well as $200 million from the UAE.
The Qatari royal family gave Trump a $400 million “super luxury Boeing 747-8 jumbo jet” to serve as Air Force One.
The Associated Press reports that Powerus, a Florida-based drone manufacturer partly owned by Don Jr. and Eric, is reportedly “trying to sell” defensive drone interceptors “to Gulf countries while they are under attack by Iran and dependent on the U.S. military led by their father.” (Powerus co-founder Brett Velicovich told the AP that the company “is doing many demos across the Middle East right now” but did not name the specific countries.)
In December 2024, Eric said of potential conflicts of interest, “I have no interaction with Washington, D.C. I want no interaction with Washington, D.C.” Don Jr. denied trading on his father’s name in a May 2025 statement to The New York Times, saying, “It’s laughable that the left-wing media thinks that I should lock myself in a padded room while my father is president and cease doing what I’ve been doing for over 25 years to earn a living and provide for my five children.” In an October 2025 CBS News interview alongside Middle East special envoy Steve Witkoff, Kushner brushed off ethical concerns, saying, “What people call conflicts of interests, Steve and I call experience and trusted relationships that we have throughout the world.” And in November 2025, White House press secretary Karoline Leavitt denied the president and his family are compromised by business interests, insisting it is “frankly ridiculous that anyone in this room would even suggest that President Trump is doing anything for his own benefit.”
For Fox News, their word is apparently sufficient. The network’s evening programs have mentioned the Trump family’s myriad Gulf state conflicts just twice since late last year.
In the first instance, Jessica Tarlov, the Democratic co-host of the panel show “The Five,” raised the issue of “Donald Trump and his family, their corruption” while discussing the president’s poor polling performance during a Feb. 10 segment about the midterm elections.
“This story [Fox contributor] Andy McCarthy is doing a series for the National Review on it,” she said. “All the crypto money that they’re taking in from the [United Arab Emirates] and others is a really big deal.”
Play
Fox News pushing Trump’s Iran war agenda, while support for the war plummetsMarch 25, 2026 / 10:27
The only other Fox News mention of the Trump family’s conflicts of interest in the Gulf that our study found came during a segment on Trump’s planned presidential library-hotel that aired on the network’s flagship, ostensibly straight news broadcast, “Special Report.”
“Guests will be welcomed into the lobby by Air Force One, presumably the Boeing 747 gifted by Qatar,” Fox correspondent Aishah Hasnie said during the March 31 news package.
When an interviewer asked “Special Report” anchor Bret Baier last year if the news media should provide the business dealings of Trump’s sons with the same scrutiny they gave those of Hunter Biden, he replied, “100%.”
“If you’re going to play it one way, you’ve got to play it another way and you’ve got to cover all of those things,” he said.
But that’s not how things have played out on Baier’s network, even with the alleged corruption far more direct, the sums vastly larger and the potential consequences far more dire.
Matt Gertz
Matt Gertz is a senior fellow at Media Matters for America, a progressive research center that monitors the U.S. media. His work focuses on the relationship between Fox News and the Republican Party, media ethics and news coverage of politics and elections.
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02/03/26
02/03/26 MMA
AI CHIPS CHINA?
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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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nyt
By Megan Twohey and Isabella Kwai
The reporters interviewed dozens of people in Romania, the United States and Britain and reviewed court documents, emails and text messages. They welcome tips at nytimes.com/tips.
Published Dec. 10, 2025
Updated Dec. 11, 2025
Days before Donald J. Trump’s return to the White House, Andrew Tate got some good news.
Mr. Tate and his brother, Tristan, swaggering influencers in the so-called manosphere, had been under criminal investigation in Romania since 2022, accused of coercing women into pornography. Andrew was also accused of rape and of having sex with and beating a 15-year-old. The brothers, American and British citizens, had been barred from leaving Romania while prosecutors built their case.
Now, in a Jan. 14 text message, Mr. Tate indicated that help was on the way.
“I had word from The Trump admin that theyre on top of things,” Mr. Tate wrote to someone close to him, in a message reviewed by The New York Times. “Ive been told ill be free soon but Trump needs to see me in Miami,” he added.
The next month, an extraordinary order came down from the highest levels of the Romanian government, a Times investigation found. The prosecutors were told to find a compromise with the Tates. Despite their misgivings, they lifted the travel restrictions, a move that Romania’s prime minister thought would appease the Trump administration.
“We’re massively back,” a grinning Mr. Tate announced in a video recorded for his followers on Feb. 27, as a private plane whisked the brothers to Florida.
Their arrival in the United States opened a rare rift among conservatives and raised suspicions over whether the White House had intervened. The Times found that support from Trump administration officials played a crucial role.
Interviews with dozens of people in Romania, the United States and Britain, as well as a review of hundreds of pages of court documents and private messages, offer the fullest account yet of how the Tates rose from a fringe corner of the internet to become a cause célèbre on the right. The brothers’ release from Romania was the culmination of a yearslong effort by Andrew to forge alliances with Mr. Trump’s advisers and family members.
The Tates have helped propel a brazenly chauvinistic movement around the world, even as they racked up allegations of human trafficking and physical violence in multiple countries. They deny criminal wrongdoing. But Andrew, 39, and Tristan, 37, have boasted about recruiting women to make lucrative sexual content, and have sold courses teaching young men how to follow in their footsteps.
Interview with Andrew Tate conducted by Anthony Dream Johnson and posted to YouTube in 2019.
As his notoriety grew, Andrew Tate shrewdly courted Tucker Carlson and other media stars of the right, who in turn tapped into the brothers’ loyal following to expand their own reach.
Andrew also nurtured relationships with Donald Trump Jr. and his younger brother Barron, who recognized the role that young male voters could play in their father’s return to power.
Barron, now 19, admired Andrew, and spoke with him over Zoom last year, according to Justin Waller, a mutual friend who was on the call. During the call, they discussed their shared belief that the Romanian criminal case was an effort to silence the Tates, he said.
After Mr. Trump’s re-election, some of the Tates’ supporters ascended into the new administration. One of them, the diplomatic envoy Richard Grenell, twice discussed their case with Romanian officials, The Times found.
Within days of the second conversation, the Romanian prosecutors received their marching orders and handed the Tates the freedom to travel — after long arguing that the brothers were a public danger and a flight risk. The prosecutors were outraged, according to people familiar with the matter who requested anonymity because they were not authorized to discuss it.
The brothers’ liberation rattled many American diplomats, who feared a shadowy new era of foreign relations. And it prompted hostility from many traditional conservatives, from Florida’s governor, Ron DeSantis, to the commentator Megyn Kelly, who said, “This actually is toxic masculinity.” Some likened the Tates to the convicted sex offender Jeffrey Epstein.
Their return also led to a new assault allegation, from a girlfriend who said Andrew beat and strangled her shortly after his arrival in the United States. Prosecutors declined to bring charges, but she has filed a lawsuit against him and has been granted a restraining order. He is suing her for defamation.
In a statement to The Times, the Romanian prosecutors’ office said that the country’s constitution requires them to operate independently and that their actions in the Tates’ case have been legal. Marcel Ciolacu, who was the prime minister when the Tates were released, did not respond to requests for comment.
An official with the White House said it has no knowledge of and is not involved in anything related to the Tates’ legal matters. The official did not respond to questions about Barron. Donald Trump Jr. did not respond to a request for comment.
The Tates’ lawyer said The Times’s findings about Andrew and Barron were “fake news.”
After more than two years of confinement, the brothers have used their newfound freedom to resume their jet-setting lifestyle and juice their brand. They have visited Kanye West, partied poolside with beautiful women and promoted their business to chanting fans.
“I’m in Dubai, I’m still rich, all I do is win,” Andrew said in a video posted in April that shows him driving off in a Bugatti.
But their legal problems haven’t gone away. The Romanian case is moving forward, and once it’s finished, the brothers will face charges of human trafficking and rape in Britain.
And in the United States, The Times found, anti-trafficking agents at the Department of Homeland Security have been investigating the Tates for years.
ImageAndrew Tate, in a half-unbuttoned animal-print shirt, sits in a crowded audience beside Tristan Tate, in a fuchsia blazer.
Andrew and Tristan Tate at a fight in Las Vegas in March, part of their U.S. visit after their release from Romania.Credit...Mikael Ona/ZUMA Press Wire
Riding Outrage to Money and Fame
Andrew Tate found modest fame as a professional kickboxer in the 2010s, but as he tells it, he didn’t start making real money until he and his brother went into pornography.
By 2015, the Tates had installed women in apartments and a hotel room in Britain, to perform live on webcams for paying customers. Andrew later described how the brothers romanced attractive women, coaxed them into the business and took most of the profits.
“It’s not just about picking up girls,” Mr. Tate said in an interview posted to YouTube. “It’s about converting them into really loving you enough to moving in with you and working for you and giving you all the money.”
Both brothers had run-ins with the British police. Tristan was arrested in 2014 after a woman reported he had assaulted her.
The next year, Andrew was arrested three times, the police said. One woman who had worked for him said in court documents that he strangled her during sex; another said he had raped, beaten and pulled a gun on her; a third woman said he had raped and strangled her while they were dating.
Authorities did not charge either brother. But Andrew said the scrutiny prompted him to leave Britain.
One day, he recalled on a podcast years later, he woke up and said, “I will not live under a government that will do this to me when I’ve done nothing wrong.” He and Tristan moved to Romania, a country they had gotten to know through the professional fighting circuit. There, Andrew said on another show, “you can get away with shit you can’t get away with in the West.”
With Romania as their new home base, the brothers ran their webcam business from there and in Britain.
When Andrew was cast for the British reality show “Big Brother” in 2016, few knew about his business or the assault allegations.
He was soon fired, however, after a tabloid obtained a video of him whipping a girlfriend with a belt. They both said it was consensual.
The scandal boosted his fame, especially on social media, where he became a fierce supporter of Mr. Trump. Donald Trump Jr. liked one of his supportive Twitter posts and they soon agreed to meet, Mr. Tate recalled on a podcast. He went to Trump Tower in 2017.
“We still inbox each other every couple of days,” Mr. Tate said on the podcast, in 2018.
By 2022, he and Tristan had gained millions of followers by preaching mental and physical discipline, entrepreneurship and the subjugation of women. They had expanded the porn business to TikTok, OnlyFans and other platforms, and were selling their courses to young men. One offering was called PHD, for “pimping hoes degree.” Over the previous eight years, they had earned at least 21 million pounds (nearly $28 million), according to records from a British court that found they had evaded taxes.
Interview with Andrew Tate conducted by James English and posted to YouTube in 2021. Mr. Tate discusses his beliefs about the inferiority of women.
When Andrew was kicked off several social media platforms and decried by high school teachers, it only increased his notoriety. He became one of the most searched people on Google.
In December 2022, the brothers were arrested in Romania and, with court approval, jailed for three months. Prosecutors later charged them with forming an organized criminal group and trafficking seven women, and charged Andrew with rape.
The 360-page sealed indictment, obtained by The Times, said the Tates had tricked the women into believing they were in long-term relationships, then coerced them into pornographic work. The brothers had put them under surveillance, restricted their movements and docked their pay if they cried on camera or broke other rules, prosecutors said.
Text messages cited in the indictment show Andrew Tate and one woman discussing what would happen if she went to Romania.
Woman
do you want me to be your slave or your wife?
Andrew Tate
you'll do whatever I tell you
which is the same thing
if I choose a woman to be my wife, she'll love me enough to let me tell her what I feel like
I WILL DECIDE if she's a slave
Once she arrived, he raped her twice, on one occasion forcing her into group sex, the indictment said.
Andrew choked another woman so hard that blood vessels in her eye burst, prosecutors said.
In a text-message chat titled “PIMPS,” Tristan and two associates discussed how to punish a woman who said she would no longer work for them.
Tristan Tate
The move now is as follows.
Associate 1
ok
Tristan Tate
both of you go, get her out of the house
Associate 2
Ok
Tristan Tate
hit her if you have to, I don't care
don't let her take her things
Associate 2
thanks
Ok
The woman was pushed down and dragged out of the house, she and witnesses told prosecutors.
Romania, long known as a hub for sex trafficking, has expanded prosecutions to include so-called Lover Boy cases based on romance, psychological coercion and threats. The indictment against the Tates acknowledged that two of the women cited as victims said they didn’t see themselves that way. Prosecutors said evidence showed that they were.
Press releases announcing the arrest, the indictment and the ensuing restrictions on the Tates’ movements made headlines around the world. But Mr. Tate, facing the prospect of prison, didn’t retreat from the controversy. He used it.
From Tucker to Barron
After his arrest, Mr. Tate hired Joseph D. McBride, a lawyer who had defended Trump supporters accused of insurrection at the Capitol. In short order, Mr. McBride pitched his brash new client to the conservative host Tucker Carlson.
In some ways, it was an odd pairing. Mr. Carlson was a proud husband who promoted Christian family values. But he had been ousted from Fox News after lawsuits exposed offensive language in his private messages to colleagues. He was building his own show on Twitter. And Mr. Tate, who had been reinstated on the platform by Elon Musk, had millions of followers there.
In an interview with The Times, Mr. McBride recalled telling Mr. Carlson that if he flew to Romania for a sit-down with Andrew, “I know we’ll break the internet.”
Image
A black car pulls up to a modern black-and-red building displaying a samurai statue and signs that read “security guard” and “Tate.”
The Tates’ compound in Romania.Credit...Daniel Mihailescu/Agence France-Presse via Getty Images
He was right. The 2023 interview, recorded at Mr. Tate’s luxury home on the outskirts of Bucharest, has drawn more than 112 million views.
They spent much of the two-and-a-half-hour conversation discussing their shared beliefs, including what they saw as a left-wing war on masculinity. Mr. Carlson didn’t press Mr. Tate on his porn operation or his previous comments about exploiting women.
Mr. Carlson misrepresented the criminal allegations in Romania, saying that they involved no sex crimes or violence, or any actions that could be considered trafficking.
“That’s not actually human trafficking,” Mr. Carlson said of the charges. “I don’t care what you call it, you weren’t buying, even accused of buying and selling anyone.”
Asked recently about the interview, Mr. Carlson told The Times, “If I misstated their indictment or got the facts wrong, I sincerely apologize.”
He added, “It doesn’t change my view that the Tates, whatever their personal behavior, had a message worth hearing.”
Interview with Andrew Tate conducted by Tucker Carlson and posted to Twitter in 2023.
The interview helped burnish Mr. Tate’s reputation. Charlie Kirk, the conservative youth organizer and Trump adviser, was among those who tuned in.
“Now I see why he’s popular,” Mr. Kirk said on his podcast. While he expressed disgust over Mr. Tate’s pornography business, he agreed that masculinity was under siege. “He is hitting on something that you’re not allowed to say, where there’s a lot of truth to it.”
Candace Owens, another popular podcaster, flew to Romania and conducted her own sympathetic interview of Mr. Tate. She told her audience it was a mistake to judge him for his past comments or the ostentatious content he posted.
“This is how guys have fun,” she said, “the same way that girls sit around and talk about ‘Real Housewives.’”
In other interviews, Mr. Tate drew parallels that he saw between himself and Mr. Trump: both booted from social media, both criminally prosecuted, both victims of political attacks.
In September 2023, Mr. Trump shared on Truth Social, his social media platform, a video of Tristan defending him. “Thank you!” Mr. Trump wrote.
Mr. McBride, the brothers’ lawyer, pressed their case in meetings with members of Congress, according to an interview he gave to the Republican operative Roger Stone. Mr. McBride said both male and female lawmakers were “outraged” at the brothers’ treatment.
Don Jr. showed support, too. “You’ve got people attacking you as far as I’m concerned,” he told Mr. Tate in a June 2024 conversation live-streamed on X, the renamed Twitter platform. “They just want to silence you.”
Image
Barron Trump, wearing a dark overcoat and slicked-back hair, stands with one fist raised as people around him smile and clap.
Barron Trump admired Andrew Tate and spoke with him by Zoom last year, according to a mutual friend.Credit...Eric Lee/The New York Times
His younger brother Barron was also a fan.
That spring, as his father was going after young male voters on the campaign trail, the teenager hosted a dinner at Mar-a-Lago for influencers. Among them was Mr. Waller, who has helped run the Tates’ courses and told The Times he is widely seen as the “third brother.”
The conversation that night meandered, Mr. Waller said, from “calling each other degenerate names” to discussing potential running mates for Mr. Trump, who also made an appearance and agreed to go on the podcast of another guest, Patrick Bet-David.
Mr. Waller has tried to play a “big brother” role for Barron, he said, visiting Mar-a-Lago and talking to him about dating. The president’s youngest son is “not a bad ally to have — let’s be frank,” he said.
He and Barron spoke to Andrew over Zoom last year, Mr. Waller said, while the teenager was having a suit fitted by Mr. Waller’s tailor. Although they discussed the Romanian case, Barron did not say anything about helping the Tates, Mr. Waller said. They also talked about supporting Mr. Trump’s presidential campaign on their online platforms.
That summer, when a young man tried to assassinate Mr. Trump, Mr. Tate told reporters that he had talked to Barron after the shooting.
“I’m very close to the Trump family,” he added. “I look forward to, once I am free, being with Donald Trump in person and reminding him that he’s a bulletproof badass.”
Allies Ascend
When Andrew texted in January that the Trump administration was “on top of things,” he didn’t name names.
But several of his supporters had found roles in the incoming government.
Paul Ingrassia, who was initially named White House liaison to the Justice Department, had once been part of the Tates’ legal team. Alina Habba, a counselor to the president who would later serve a brief stint as New Jersey’s top prosecutor, told Andrew on a podcast in January that “I got your back over here.”
Image
Richard Grenell Alina Habba, seated next to each other amid a crowd, wearing suits and neutral expressions.
Richard Grenell, center, and Alina Habba (wearing glasses) at a Senate confirmation hearing in January.Credit...Haiyun Jiang for The New York Times
And Mr. Grenell, a special presidential envoy, privately discussed the Tates’ case with Romanian officials, The Times found.
At Mar-a-Lago last December, he met Victor Ponta, an adviser to Romania’s prime minister.
Mr. Ponta had traveled to Mr. Trump’s Florida club to make inroads with the president-elect’s inner circle, he told The Times in an interview in Bucharest. His country was in a defensive crouch for its handling of a presidential election. Its highest court had tossed out the first round of votes, citing evidence that Russia had meddled on behalf of the winner, a far-right candidate. Donald Trump Jr. and Elon Musk, among other American conservatives, accused Romania of undermining democracy.
Mr. Ponta sensed that informal diplomacy would be a big part of the incoming Trump administration. And Mr. Grenell, who would soon negotiate the release of several American detainees in Venezuela, was already positioning himself as a forceful operator.
When asked by The Times whether he and Mr. Grenell discussed the Tates’ case, Mr. Ponta affirmed that they had. “Maybe he saw himself as releasing all the American hostages around the world,” he said, without elaborating further.
Last month, Mr. Ponta backpedaled. In a text exchange with The Times, he said he didn’t recall whether he and Mr. Grenell had talked about the Tates. He then said he was sure they had not.
Mr. Grenell also discussed the Tates’ case in mid-February, with Romania’s then foreign minister, Emil Hurezeanu, when they crossed paths at a security conference in Munich, as first reported by The Financial Times.
Mr. Grenell disputed the characterization of the encounter, saying in a statement to The Times that it had become exaggerated in media accounts. “I simply ran into him in the hallway,” he said. The foreign minister asked him if he stood by an old tweet showing support for the Tates, he said, and he replied yes. “I have never met the Tate Brothers, I’ve never been to Romania,” Mr. Grenell said. His statement did not address the Mar-a-Lago conversation.
Soon after the Munich conference, the prime minister posted on social media that the United States had not made any requests or demands on Romania.
‘The Tate Escape’
By then, the Tates’ legal problems were snowballing.
In Britain, the women who had accused Andrew of rape and assault a decade earlier were suing him in civil court. And prosecutors had authorized trafficking and rape charges against the brothers based on allegations involving three other women.
In America, Homeland Security anti-trafficking agents had been conducting interviews about the Tates, according to people familiar with the confidential investigation. The agents were working with federal prosecutors who would go on to win the conviction of Sean Combs, the music mogul known as “Diddy.” Both offices declined to comment.
In Romania, a judge had invalidated the 2023 indictment, citing procedural mistakes. But the prosecutors were trying to correct them and move forward with a case.
They had presented evidence that, since 2014, the brothers had between them coerced more than 30 other women, including a 17-year-old, into their pornography operation, court records show.
Mr. Tate was also accused of having sex with a 15-year-old and trying to bribe her to stay quiet. She told investigators he had beaten her with a belt and choked her until she passed out, according to the documents.
The Tates have denied all criminal wrongdoing and Andrew has contested the civil claims.
They said the new women cited in the Romanian investigation did not consider themselves trafficking victims. And they argued that being confined without an indictment violated their rights.
They got their break in late February. The order came down instructing prosecutors to negotiate with them, according to two people familiar with the move who were not authorized to discuss it. The prime minister believed the Trump administration would be happy with the outcome, a third person said.
On Feb. 25, the Tates officially requested to have their travel restrictions removed.
In a text message the next day, Mr. Tate shared his long-sought victory with someone close with him.
Andrew Tate
I have very details instructions from the americans about crossing borders, phones, passports etc. I cant say more. This goes into instant effect.
In the early hours of Feb. 27, the brothers drove to the airport, as documented in a video titled “The Tate Escape.” They beamed at each other as the plane took off for Florida.
When asked that day whether the Trump administration had aided in the Tates’ release, their lawyer, Mr. McBride, told The Times: “Do the math. These guys are on the plane.”
The Tate brothers shared this video with their followers on Rumble this year.
A Rift on the Right
From the moment they arrived on U.S. soil, the Tates encountered pushback.
Their electronic devices were confiscated by border control officials. Mr. Ingrassia, by then the White House liaison to Homeland Security, tried and failed to have their phones returned, ProPublica reported. (Mr. Ingrassia denied the account.)
That night in Miami, the brothers celebrated over cigars with Mr. Waller, he said. But public backlash was mounting, even among some prominent conservatives.
Megyn Kelly and Ben Shapiro denounced the Tates. Some Republican leaders spoke out, too.
“I certainly don’t think that we should be using any influence in our government to try to get him out of what seemed to be extremely serious charges in Romania,” Senator Josh Hawley of Missouri told HuffPost, referring to Andrew.
After Mr. DeSantis said the brothers were not welcome in Florida, the state’s attorney general announced a criminal investigation of them.
This actually is toxic masculinity, people. This is the real version of it.
Megyn Kelly
Right-wing commentator
America does not need more self-proclaimed pimps.
Ben Shapiro
Right-wing commentator
Florida is not a place where you’re welcome with that type of conduct in the air.
Ron DeSantis
Governor of Florida
As the right-wing rift over the Tates cracked open, Mr. Stone, the Republican operative, deleted an X post saying Mr. Grenell had secured their release. Ms. Habba said that she had “no part” in lifting the Tates’ travel ban.
And Mr. Trump had already said he knew nothing about it.
In mid-March, the brothers flew back to Romania for a court appearance. One of Andrew’s then-girlfriends, Brianna Stern, told the police in Beverly Hills he had assaulted her before he left. On social media, she shared several of his text messages.
Andrew Tate
i really love hitting you its very good for me
and you
its relaxing dont you think
?
Brianna Stern
pookie no i cry
Prosecutors declined to bring charges, citing insufficient evidence. Ms. Stern is suing Andrew, and he has countersued, claiming defamation. He and Tristan are also suing a woman in Florida who is cited as a victim in the Romanian investigation.
In recent months, Andrew has continued to weigh in on American politics, including calling for “civil war” after Mr. Kirk’s assassination. But while he and his brother have flown in and out of Romania, Turkey and the United Arab Emirates, they have not returned to the States.
Many of his allies have stopped publicly defending him.
An exception is Nick Fuentes, a rising voice known for his antisemitic and sexist rhetoric. He and Mr. Tate, both critics of Israel, have lavished each other with praise.
Mr. Tate may not be a paragon of Christian morality, Mr. Fuentes said in an October interview with Mr. Carlson. “But men are going with him because he’s putting women in their place.”
Image
Andrew Tate, walking outside in a dark hoodie, turns his face to the camera and grins.
Andrew Tate returned to Romania in March for a required check-in with authorities.Credit...Vadim Ghirda/Associated Press
Matei Barbulescu contributed reporting. Produced by Eli Murray.
Photo credits for illustration: Robert Ghement/EPA-EFE/Shutterstock (Tate brothers); Jacquelyn Martin/Associated Press (Donald Trump Jr.); Pool photo by Chip Somodevilla (Barron Trump); Gage Skidmore/ZUMA Press Wire (Candace Owens); Bill Bowden/Arkansas Democrat-Gazette (Joseph McBride); Ross D. Franklin/Associated Press (Tucker Carlson); Kenny Holston/The New York Times (Alina Habba); Jim Watson/Agence France-Presse — Getty Images (Richard Grenell).
Megan Twohey is an investigative reporter at The Times. Her work has prompted changes to the law, criminal convictions and cultural shifts.
Isabella Kwai is a Times reporter based in London, covering breaking news and other trends.
See more on: Andrew Tate, U.S. Politics, Donald Trump, Donald Trump Jr., Richard Grenell, Tucker Carlson
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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.
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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MMA 9 25 SEE CORRUPT 4 UAE
Another massive Trump corruption scandal for right-wing media to bury
How many orders of magnitude worse is Trump’s corruption than various Hunter Biden claims the right said justified his father’s impeachment: An investigation
Written by Matt Gertz
Published 09/16/25
President Donald Trump and his MAGA movement are constantly pushing boundaries and transgressing norms of behavior and discourse. That’s not to say, however, that they find such rules useless: Trump’s media propagandists aggressively call out infractions by his opponents even when he and his allies break those same strictures on a far more expansive scale.
To wit, The New York Times on Monday published an investigation providing new details into “two multibillion-dollar deals” which revolve around Steve Witkoff, simultaneously Trump’s Middle East envoy and his business partner, and Sheikh Tahnoon bin Zayed Al Nahyan, a member of the royal family of the United Arab Emirates. The paper reported of the deals: “One involved a crypto company founded by the Witkoff and the Trump families that benefited both financially. The other involved a sale of valuable computer chips that benefited the Emirates economically.”
According to the Times, “while there is no evidence that one deal was explicitly offered in return for the other, the confluence of the two agreements is itself extraordinary.” The Times further reported:
In May, Mr. Witkoff’s son Zach announced the first of the deals at a conference in Dubai. One of Sheikh Tahnoon’s investment firms would deposit $2 billion into World Liberty Financial, a cryptocurrency start-up founded by the Witkoffs and Trumps.
Two weeks later, the White House agreed to allow the U.A.E. access to hundreds of thousands of the world’s most advanced and scarce computer chips, a crucial tool in the high-stakes race to dominate artificial intelligence. Many of the chips would go to G42, a sprawling technology firm controlled by Sheikh Tahnoon, despite national security concerns that the chips could be shared with China.
…
The first instantly propelled World Liberty into one of the world’s most prominent crypto companies, giving it a revenue stream that could be worth tens of millions of dollars annually.
The second is still pending, with final details under discussion in the White House. But it is poised to be a monumental victory for the Emirates. The Trump administration agreed to exponentially increase the U.A.E.’s access to one of the most important inventions in modern history.
For a sense of the scale of this alleged corruption, it’s worth comparing it to the various allegations that Fox News propagandists like Sean Hannity and Republican politicians like House Oversight Chairman James Comer (R-KY) made during former President Joe Biden’s term as part of their effort to manufacture an impeachable offense from the business dealings of his family members, primarily his son, Hunter.
The $2 billion deposit from the UAE sheikh's investment firm into the crypto company controlled by Trump, his family, and the family of his Middle East envoy, is:
- 100 times the sizeof the $20 million Trumpists typically claimed that “the Bidens” or “the Biden family” received from foreign sources.Even that $20 million figure is a fabrication — according to a Washington Post review, two-thirds of the money actually went to Hunter Biden business partners who were not members of the family; only $7.5 million was collected by Biden family members, most of it by Hunter Biden, and none by Joe Biden.
- 400 times the sizeof the $5 million “bribe” they claimed President Biden received from a Ukrainian oligarch whose company employed Hunter.The Justice Department subsequently alleged that the FBI informant behind that charge had fabricated his story; the informant pleaded guilty to lying to the FBI and a judge sentenced him to six years in prison.
- 8,333 times the sizeof the $240,000 President Biden received from his brother Jim, which was cited as evidence of the president receiving laundered money. In fact, this appeared to be Jim Biden repaying a loan Joe Biden had made to him.
- 483,092 times the sizeof the $4,140 President Biden received from one of his son’s companies, cited by Comer as evidence that “Joe Biden knew & benefitted from his family's business schemes.” In reality, Joe Biden bought a truck for his son’s use at a time when Hunter was battling drug addiction, and Owasco PC, Hunter Biden’s law firm, subsequently made three monthly payments of $1,380 to repay Joe Biden’s initial payments on the vehicle.
It goes without saying that the volume of coverage right-wing media outlets give to these shady deals won’t be proportionate — or even inversely proportionate — to what they provided for those Biden stories. Indeed, when House Democrats issued a report last year showing that China directed millions of dollars straight to Donald Trump’s businesses during Trump’s first term, Hannity promptly excused him and moved on.
Perhaps they’d all care if there were an email in which Witkoff referred to the president as the “big guy.” But probably not.
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01/04/24 12:35 PM EST
:{01/05/24
- ### Fox News' failed attempt to use Hunter Biden to gin up an impeachment of his father, by the numbers
04/25/24
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AN 9 25
The New York Times on Monday published a blockbuster report detailing how US President Donald Trump’s administration gave the United Arab Emirates access to high-powered artificial intelligence chips just days after receiving a massive investment in Trump’s cryptocurrency startup.
As the Times report documented, Sheikh Tahnoon bin Zayed Al Nahyan, a member of the United Arab Emirates’ (UAE) ruling family, had one of his investment firms deposit $2 billion into World Liberty Financial, the startup founded by members of the Trump family and the family of Trump Middle East envoy Steve Witkoff.
Just two weeks later, wrote the Times, “the White House agreed to allow the UAE access to hundreds of thousands of the world’s most advanced and scarce computer chips, a crucial tool in the high-stakes race to dominate artificial intelligence,” despite national security concerns about these chips being shared with China.
The Times, which interviewed more than 75 people in its investigation of the deals, did not present direct evidence that the two deals were explicitly linked, and the White House denied any connection between the massive investment in the Trump family’s crypto firm and the decision to grant UAE access to the chips.
However, the paper interviewed three ethics lawyers who said that “the back-to-back deals violate longstanding norms in the United States for political, diplomatic, and private dealmaking among senior officials and their children.”
Other political observers were stunned by the Times’ report.
“If this is true, this is the largest public corruption scandal in the history of the United States and it’s not even close,” commented Ryan Cummings, chief of staff at the Stanford Institute for Economic Policy Research.
US foreign policy journalist Laura Rozen questioned whether Witkoff’s dealings with the UAE and other countries were impacting his ability to do his job in other areas.
“Maybe Witkoff is too busy pushing deals to enrich his and Trump’s families to focus on getting an Israel-Gaza hostage deal over the line, recognizing the Russians are not interested in ending the war on Ukraine, etc.,” she speculated.
Alasdair Phillips-Robins, a fellow in the Technology and International Affairs Program at the Carnegie Endowment for International Peace, marveled at the reporting that Trump’s negotiation team appeared to be willing to grant UAE access to the chips without forcing any major geopolitical tradeoffs.
“This sounds like the world’s weakest negotiation: telling the UAE they’ll get unlimited chips before they’ve agreed to a single concession in return,” he wrote.
Independent journalist Jacob Silverman, who has written extensively on the politics of the US tech industry, remarked that the Trump administration’s actions exposed in the Times report were “impeachable” and smacked of “incredible corruption.”
In addition to his cryptocurrency-related dealings with UAE, Trump has also come under scrutiny for accepting a luxury jet from the government of Qatar that he plans to use for the remainder of his term in office and that will be given to his official presidential library after he leaves the White House.
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Donald Trump has raised nearly a billion dollars from his various cryptocurrency schemes, says researcher Molly White. “He is really allowing for bribery and the types of corruption that we’ve never seen in the American presidency,” White says. She lays out how the Trump family profits from cryptocurrency while directly influencing policy and regulations, encouraging the transfer of wealth to the industry despite its “enormous risk of fraud and collapse.”democracynow.org
AMY GOODMAN: Senators Elizabeth Warren and Jeff Merkley are calling for a federal investigation into the Trump family’s cryptocurrency venture, after a fund backed by Abu Dhabi announced it would make a $2 billion investment in crypto exchange Binance using a Trump-branded cryptocoin. The deal could generate hundreds of millions of dollars for the Trump family.
In their letter, Senators Warren and Merkley wrote, quote, “The deal, if completed, would represent a staggering conflict of interest, one that may violate the Constitution and open our government to a startling degree of foreign influence and the potential for a quid pro quo that could endanger national security,” unquote.
Senator Warren also released this video last week blasting the deal.
SEN. ELIZABETH WARREN: The United States is getting ready to bless Donald Trump’s latest grift. A shady Abu Dhabi investment firm just announced it’s going to make a $2 billion business deal with a foreign crypto company called Binance. So, here’s the kicker: Binance and the foreign investment firm are going to use Donald Trump’s stablecoin to finance their transaction, essentially giving Trump a cut of that $2 billion deal. Boy, looks like corruption, smells like corruption. So, yeah, the Senate is going to put a stop to it, right? Wrong. Right now the Senate is getting ready to greenlight the grift by passing the so-called GENIUS Act next week. This is a bill that would make it even easier for the president and his family to profit off their own stablecoin and oversee their own financial company.
AMY GOODMAN: President Trump is headed to the Gulf next week.
In related news, last night, on Monday, President Trump spoke at a crypto and AI innovators’ dinner to raise money for a pro-Trump super PAC. Tickets were one-and-a-half million dollars a plate. The event was held at the president’s golf club in Virginia. The co-host of the dinner was David Sacks, the White House AI and crypto czar. Sacks is a South African-born tech investor who was part of the so-called PayPal Mafia, founding PayPal with Elon Musk and Peter Thiel.
On May 22nd, Trump is also hosting a private gala dinner for the top 220 investors in his meme coin. The dinner will also be held at the Trump National Golf Club. The promotion also offers an ultra-exclusive VIP reception with the president and a tour of the White House for the top 25 $TRUMP meme coin investors. The anti-corruption group CREW, Citizens for Responsibility and Ethics in Washington, called the promotion, quote, “one of the most blatant and appalling instances of selling access to the presidency we’ve ever seen,” they said.
We’re joined now by Molly White, an independent cryptocurrency researcher who runs the Citation Needed newsletter. She recently wrote an article headlined “Trump’s newest grift: Building a cryptocurrency empire while destroying its regulators.”
Molly, welcome to Democracy Now! If you can start off, for folks who aren’t following cryptocurrency that carefully, explain what cryptocurrency is.
MOLLY WHITE: Cryptocurrency is a digital asset. So, it’s an entirely digital form of speculation, essentially, that allows people to speculate on the value of tokens that are, you know, things like bitcoin or Ethereum, and it’s entirely digital. There is no physical representation. There is no physical asset or service backing the tokens.
JUAN GONZÁLEZ: And in your recent piece, Molly, you wrote that “The scope of the Trump family’s cryptocurrency conflicts illustrates a degree of corruption that makes the emoluments concerns of Trump’s first term seem quaint by comparison.” Could you explain?
MOLLY WHITE: Yeah. So, Trump’s crypto ventures are growing, seemingly by the week. It seems like every week something new is announced, whether it’s his World Liberty Financial crypto platform or his $TRUMP meme coin or rumors of a new crypto game that his backers are working on. And so, he is really allowing for bribery and the types of corruption that we’ve never seen in the American presidency. You know, he’s allowing people to send him money. He is profiting directly from the cryptocurrency industry, while he is simultaneous influencing policy, legislation, calling off regulators who previously oversaw the crypto industry, in ways that are benefiting him and his family very directly.
JUAN GONZÁLEZ: And given the fact that cryptocurrency has become sort of the favored money-laundering method of criminals, drug dealers, anybody who wants to hide their money, what is the impact of the growing size of the crypto industry in terms of the financial system?
MOLLY WHITE: Well, it’s definitely concerning. I mean, there is this major potential for criminal activity using cryptocurrencies. We’ve seen it dramatically increase for use in money laundering, as you mention, terrorist financing. Ransomware is primarily these days done with cryptocurrency. And there’s very little in the way of regulations or laws that crack down on that type of activity.
And under the Trump administration, we’ve actually seen what few regulations were in place be pared back. The Securities and Exchange Commission, which previously was, essentially, the primary regulator of the cryptocurrency industry, has been called off the beat. We’ve seen cases against cryptocurrency companies dismissed with prejudice, investigations of crypto companies dropped. We’ve seen the cryptocurrency investigations teams at the SEC and the Department of Justice dismantled. And so, under the Trump administration, I think we are seeing dramatic expansion of the potential for criminal activity within cryptocurrency, as well as the, you know, complete reduction in consumer protections that would allow those who choose to get involved with cryptocurrency to do so without the fear that they are going to be scammed or taken advantage of.
AMY GOODMAN: Molly, how exactly does Trump and his family profit from these crypto ventures? How much money are we talking about? And explain. Trump has a crypto coin. Melania has one. Explain how this works.
MOLLY WHITE: Well, Trump has multiple crypto ventures that are directly enriching him. So, you mentioned there’s the $TRUMP meme coin, which is the token that is themed after him, essentially, and is being currently used as a ticket to this private dinner at his golf course. Melania has a token of her own. And the Trumps make money off of those tokens, both in terms of the trading that’s happening, as well as facilitating the liquidity for those types of tokens.
Then there’s the World Liberty Financial platform, which is a yet-to-be-released crypto platform that is nevertheless selling these World Liberty Financial tokens to interested buyers. Trump makes 75% of the protocol revenues from that project, and he owns a 60% stake in the company. He and his family sort of maintained the illusion that there was an arm’s-length relationship between the project, despite it being entirely themed after Trump, prior to his election and inauguration, but after he was inaugurated, they sort of gave up that facade and obtained a majority stake in the company.
And then, Trump has sort of an endless list of additional crypto ventures. He has his NFT projects. He has sold crypto-themed sneakers. You know, there has been reporting that he is working on a crypto game. His Trump Media & Technology Group, which is the company that is behind the Truth Social platform that he controls, is also getting into crypto with a partnership with Crypto.com to launch crypto ETFs, exchange-traded funds. And there’s also reporting that they are considering launching their own token. So, the list really goes on.
And so far, I think he has raised close to a billion dollars, or he has profited in close to a billion dollars from his combined ventures. That number is only continuing to increase, as there are deals like this stablecoin being used by the United Arab Emirates Investment Fund, and as, you know, multiple new ventures are being launched as we go on.
JUAN GONZÁLEZ: And, of course, the Trump administration has claimed that all of Trump’s investments are in a blind trust, that basically his sons run the company, not him.
MOLLY WHITE: Right, that is the claim, although he’s made varying claims. He’s even claimed not to profit from crypto at all, which is plainly untrue. But I think that, you know, frankly, it is not fair to say that he is divested from crypto ventures when it is controlled by his sons. His sons are profiting, and ultimately he is profiting. You know, he should not be making policy decisions or influencing policy in ways that benefit his family quite, quite plainly. And I don’t think that the claims that he has divested are accurate whatsoever.
AMY GOODMAN: Molly White, can you talk about the latest push by the Senate Democrats? Tell us more about the legislation that they want to change on cryptocurrency pending in Congress. What did the so-called GENIUS Act, a bill backed by the crypto industry, call for?
MOLLY WHITE: So, the GENIUS Act is primarily intended to regulate stablecoins, which are a category of crypto assets that are intended to maintain a peg to some other form of asset. So, we often see dollar stablecoins, which are crypto tokens that are intended to be worth $1 a piece. Those are assets like USDC or Trump’s USD1 stablecoin, which was recently launched. And the GENIUS Act, you know, seeks to install some amount of legislation that would regulate those types of assets.
And this is something that we’ve seen the crypto industry pushing for for quite some time, even prior to the Trump administration. But Trump’s own crypto ventures, including launching his own stablecoin, have recently stalled that legislation, with a number of Senate Democrats speaking up to oppose this bill, as well as those in the House, signaling that, you know, the Trump family financial interests are a major concern for them. The crypto industry has also pushed for a number of changes to this bill that would benefit the industry. And we’re now starting to see Democrats in Congress saying that this bill does not go far enough to prevent national security concerns or even terrorist financing using these stablecoins, which have been used to transfer massive amounts of funds. They are sort of the bedrock of the crypto industry, almost like the poker chips at the casino. Stablecoins are a major venue through which value is transferred in the crypto world. And so, this type of legislation is extremely important to get right.
JUAN GONZÁLEZ: Do we have any sense of who in the United States does this investing in crypto coins? How widespread is it? Or is there a profile of typical people who are buying the coins?
MOLLY WHITE: Well, there are everyday people who are involved in crypto speculation, but we also see major venture capital firms and investment firms getting involved in the crypto world, as well, including a number that have a significant presence in Washington. Andreessen Horowitz, for example, is one of the largest technology venture capital firms. They have significant investments in the cryptocurrency world, and a number of Andreessen Horowitz employees have been installed in various positions at the White House. Marc Andreessen himself was involved in selecting members of the Trump administration, and they were very heavily involved in political campaigning. Then there are figures like David Sacks, who is the AI and crypto czar at the White House. He runs an investment firm that also has crypto investments, some of which he’s not divested from.
So, there are multiple profiles of crypto investors, many of them institutional, but also everyday people who have bought the story that cryptocurrency is a way to get ahead financially, that crypto investments can potentially provide high returns and are worth the enormous risk and volatility that crypto brings with it, and, you know, now the enormous risk of fraud and collapse throughout the crypto industry, as well.
AMY GOODMAN: Molly White, we want to thank you so much for being with us, software engineer, independent cryptocurrency researcher, running the Citation Needed newsletter. We’ll link to your recent piece, “Trump’s newest grift: Building a cryptocurrency empire while destroying its regulators.”
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