The Trump family’s foray into cryptocurrency has resulted in a significant wealth decline of approximately one billion dollars in just a few months. This drop is attributed to losses in meme coins, Bitcoin mining ventures, and Trump Media & Technology Group (TMTG) investments, including a dramatic fall in the value of their holdings in the World Liberty Financial token. Despite these losses, the family’s overall crypto investments, especially since the president’s return to office, have significantly boosted their wealth. Furthermore, the broader downturn in the crypto market has also impacted the Trump family’s wealth, with significant drops in the value of TMTG shares and investments in the CRO token.
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New court filings allege that the creators of the $MELANIA cryptocurrency, launched by Melania Trump, orchestrated a pump-and-dump scheme. The coin’s value surged to $13.73 shortly after its January release before plummeting to mere cents, mirroring the trajectory of Donald Trump’s $TRUMP coin. Investors accuse executives of the Meteora exchange platform of manipulating the market by indirectly purchasing large quantities of the coin and then reselling them for profit. This case has been added to existing legal proceedings, while the Trump family has reportedly earned significant profits from various cryptocurrency ventures.
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A recent report from The New Yorker claims that Donald Trump and his family profited an estimated $3.4 billion during his two presidencies. The report details earnings from various sources, including cryptocurrency ventures, Trump-branded merchandise, and his Mar-a-Lago estate. The White House Press Secretary has responded, calling the claims absurd and stating that Trump has lost hundreds of millions of dollars while serving the country. The New Yorker’s analysis also includes profits from Trump’s campaign events and contributions used to fund legal fees.
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During his This Week broadcast, George Stephanopoulos accused the Trump family of leveraging the presidency to amass billions of dollars through various deals. Stephanopoulos cited instances such as a pardon for a tax cheat after a substantial Mar-a-Lago donation and the SEC dropping a lawsuit against Binance after the platform listed a Trump family cryptocurrency. He quoted The Atlantic, describing the situation as unprecedented corruption on a scale comparable to post-Soviet or postcolonial dictatorships. This accusation comes despite ABC’s previous settlement with Trump for a false statement made by Stephanopoulos.
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The Trump family’s extensive monetization of the presidency far surpasses that of any previous administration, accumulating hundreds of millions of dollars through various ventures including cryptocurrency deals and overseas real estate transactions. This unprecedented level of personal enrichment, including a reported $28 million payment to Melania Trump for a promotional film, contrasts sharply with past scandals like the one involving Hillary Clinton’s cattle futures, which received significantly more public attention and scrutiny. The lack of widespread outrage or formal investigations is attributed to several factors including the President’s dismantling of accountability mechanisms and a potential shift in public tolerance for such actions. Experts suggest that either the public never cared about such ethical breaches or is now overwhelmed and desensitized, while some recent polls reveal growing public concern.
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While speculation arose regarding Barron Trump’s application to Harvard following a legal dispute between the university and the Trump administration, no confirmation exists that he applied, or was rejected. Instead, Barron chose New York University’s Stern School of Business, deviating from the family’s pattern of attending University of Pennsylvania or Georgetown University. His father, Donald Trump, is a Wharton School alumnus, while his siblings attended either Wharton or Georgetown. The rumors linking Barron’s purported rejection to the legal conflict remain unsubstantiated.
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Senate Democrats withdrew support for the bipartisan GENIUS Act due to concerns it inadequately addressed conflicts of interest stemming from the Trump family’s substantial cryptocurrency holdings. A new bill, the End Crypto Corruption Act, aims to prohibit federal officials and their families from holding digital assets, prompted by reports of potential $2 billion in profits from a Trump family stablecoin deal and a lucrative meme coin promotion. While acknowledging current legal limitations, some Republicans also expressed reservations about the meme coin contest, and Senator Lummis indicated a willingness to collaborate on broader digital asset regulation. The Democrats’ action reflects a shift towards stricter regulation to curb potential corruption related to cryptocurrency holdings by government officials.
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Senator Elizabeth Warren and Senator Jeff Merkley are urging the U.S. Office of Government Ethics to investigate a deal between a UAE investment firm, Binance, and World Liberty Financial, a Trump-affiliated cryptocurrency company. This deal, potentially enriching the Trump family and Steve Witkoff, raises serious national security concerns due to its potential for conflicts of interest and foreign influence. The senators argue the arrangement could violate the Constitution and create opportunities for quid pro quo exchanges that jeopardize national security. Their letter highlights the substantial financial benefits for the Trump family and the inherent risks associated with this complex transaction.
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Nineteen-year-old Barron Trump, son of Donald Trump, is currently studying business at New York University’s Stern School of Business, displaying a keen interest in both politics and technology. President Trump has noted Barron’s impressive technological aptitude, even recounting an anecdote about his son’s quick laptop recovery skills. While his future path remains uncertain, sources suggest Barron is currently focused on his education and entrepreneurial aspirations, potentially foreshadowing future business ventures. Although less visible than his siblings, Barron’s personality is described as grounded and well-rounded, influenced by his family’s values and unique upbringing.
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Trump Family Has Held Deal Talks With Binance Following Crypto Exchange’s Guilty Plea
The Trump family’s involvement in discussions with Binance, even after the crypto exchange’s guilty plea, is a striking development. This raises significant questions about potential conflicts of interest and the overall ethical implications of such dealings. The timing, following Binance’s legal troubles, adds another layer of complexity to the situation.
The narrative surrounding this situation is heavily intertwined with broader political and economic anxieties. Many see this as yet another instance of alleged grifting, pointing to a pattern of behavior that casts doubt on the ethical standards upheld by certain individuals.… Continue reading
John Q. Hosedrinker 
Matt Underwood