Step Right Up, Suckers! Trump's Got A Fourth Crypto-Grifto!
Also buy a $1 million condo, get a golden visa for free.
The past eight years or so, the grifter-in-chief has been sort of pretending his grift is not a grift. Saudis just happen to be giving Jared Kushner billions for a private equity firm, because he is an investing savant (who has never run a private equity firm before)!
The Secret Service is getting a deal staying at Trump properties, why, they’re only getting charged $50 a night, lied Eric. That watch is (almost) gold! Everybody play along!
But no more pretending! Crypto is turning into a boon for every sheik and oligarch to untraceably line the pockets of Trump and his fug children. And now Trump “Middle East Envoy”/Putin sucker-upper Steve Witkoff’s son Zach has gotten in on this thing too. Gotta keep the dipshit sons busy so they don’t chase a butterfly into oncoming traffic!
Trump’s two older sons went to Dubai and the Token2049 conference on Thursday to announce a NEW stablecoin, from the nest of grifters who brought us the World Liberty Financial ($WLFI) ripoff. That’s the one where “investors” buy tokens that they can’t sell or transfer, and Trump and his ugly sons get 75 percent of the money. It has already sold $550 million! To whom, we will probably never know!
And now there is a new one, his fourth crypto-grift. It’s going to be called USD1, and a fund backed by the state-backed Emirati investment firm MGX is going to invest $2 billion (with a b) in it, to buy it on the Binance crypto exchange. In 2023, Binance and its CEO paid $4 billion and admitted to money laundering and sanctions violations, isn’t that special? Of course, assuming you want to launder some money and violate some sanctions, you might as well call an expert.
The new coin is going to be on the Tron blockchain, which was established by Justin Sun, remember him? He’s an accused crypto-scammer being prosecuted by the SEC for fraud (though probably not for much longer), who’s now invested $75 million in Trump’s World Liberty Financial. Sun is probably best known for buying Maurizio Cattelan’s $6.2 million conceptual art piece of a banana taped to the wall.
Last week Trump also announced an exclusive dinner and a “VIP White House Tour” for the 220 biggest suckers who invested in his $TRUMP memecoin, and the US government registered the urls thetrilliondollardinner.gov, dinnerforamerica.gov, and thetrillion.gov. At the same time Trump is appointing crypto regulators, and trying to get rid of regulations. Could it get more shameless? You can bet somehow that it will!
Just a balls-out flashing neon sign that the administration is open for bribing. Imagine if Barack Obama, Joe Biden, etc. etc.! Even Republicans are concerned. The dinner is described as:
a high-impact effort to reinvigorate American prosperity by uniting world leaders, industry pioneers and investors in a shared commitment to the future of American jobs, innovation, and economic growth. Launched with an exclusive gathering of CEOs, billionaires, and decision-makers, the initiative serves as a catalyst for strategic reinvestment in the nation's workforce, industries, and technological advancements.
See, you put your money in his memecoin, and it will magically make American jobs, or something.
$TRUMP (which we can only imagine is pronounced “STRUMP”) was launched in January, and immediately swole but then crashed and lost $2 billion. Rules of the offering kept insiders from selling any of their coins until last week, but now it’s as good as a bank account for Dear Leader, and after the dinner announcement came out, the price went up 60 percent. Trump and his business partners get a cut every time the coins are sold and bought, too.
Just the biggest corruption scandal in the history of the American presidency.
But wait, there’s more! There’s always more with these sleazebags. Trump is set to expand his property empire into Dubai now, with an 80-story Trump Hotel & Residences skyscraper. Prices for two-bed apartments start at $1 million, and the website for the property offers free 10 year “golden visas,” though it does not specify golden visas to where. If it’s the US, that is a better deal than the $5 million golden green card he says he’s going to be selling. Bargain-hunting sanctioned oligarchs take note! And you can buy a condo in Bitcoin!
Another property to go with his new buildings in Jeddah and Oman too.
Funny how he keeps going on about investing in America, and these tariffs are supposed to force companies to invest in America, and yet the guy is investing all that other people’s money everywhere BUT in America.
Huh.
[New York Times archive link / 404 Media / Rolling Stone / The Independent]
It’s easy to lose sight of the kleptocracy amidst the creeping fascism.
Yeah, I got nothin'. I just can't even.