Trump Media, the personal crypto/social media/streaming community/finance firm run by President Donald Trump and his household, simply agreed to a brand new take care of Crypto.com to do a sophisticated scammy crypto factor.
It’s tremendous cool that the president will get to (not) regulate crypto so he can line his personal pockets.
Okay, you need to understand how the crypto factor works? Fantastic. Right here’s a good clarification: “A (poorly operating) social-media company is raising money to go public via a backdoor route, asking investors to give it cash so it can then buy a mid-tier cryptocurrency that those investors could just buy on their own.”
President Donald Trump holds a pair of “Trump Sneakers.”
Consultants have suggested that this complete factor might be a bubble, however what does that matter once you’re the president? Trump and his household will stroll away simply high quality each time this crashes out, able to provide you with another scheme.
With the ability to minimize multimillion- or multibillion-dollar personal offers with the president of america is antithetical to democracy. It’s a vector for corruption, one the place donors can buy no matter Trump and his sons are at present pimping and, in doing so, get entry to the presidency and favorable remedy.
And it’s actually paying off. Trump has pardoned not simply crypto bros however precise crypto exchanges and has entered into enterprise partnerships with crypto bros who ponied as much as purchase thousands and thousands of {dollars} of Trump’s dumb meme coin $TRUMP.
You’d suppose Trump could be busy, what with operating the nation into the bottom and all, however as an alternative, he’s obtained a household enterprise that’s as low-rent as ever. The place it was once Trump Steaks, Trump College, Trump Vodka, and Trump Airways—a complete sequence of failed grifts—lately he’s lending his title to all issues crypto.
Enter Trump Media, which appears to exist principally to do these crypto offers and function the mum or dad firm to the president’s personal social media community, Reality Social.
Donald Trump Jr. through the announcement of Trump Cell in June.
There’s additionally Trump Cell, the place you will get your self a MAGA cellphone lined in faux gold and an American flag that ties your mobile service to the Trump crime household.
Moreover being spectacularly corrupt, this additionally ends in the worst suck-ups possible. Treasury Secretary Scott Bessent gushed about how papers just like the Wall Road Journal weren’t used to somebody “as economically sophisticated as President Trump.” And Commerce Secretary Howard Lutnick, to not be outdone, mentioned his division would begin issuing statistics on the blockchain as a result of Trump is the crypto president.
As a result of nobody has stopped Trump from monetizing the presidency, nothing is stopping him from monetizing the presidency. Alas, years of scams await!
