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BumRushDaShow

(140,914 posts)
Sat Aug 31, 2024, 05:28 PM Aug 31

Crypto is the new Trump family business. Ethics watchdogs have concerns.

Source: Politico

08/31/2024 12:00 PM EDT


Former President Donald Trump’s pledge to turn the U.S. into the “crypto capital of the planet” and implement industry-friendly policies could have a new beneficiary: his own family. Trump’s eldest sons are gearing up to launch a new cryptocurrency venture called World Liberty Financial, which is already receiving a big social media boost from their father. Government ethics watchdogs say the project could create a conflict of interest if Trump returns to the White House next year.

Trump has vowed to enact an array of pro-crypto policies in a bid to win votes — and campaign cash — from digital asset enthusiasts in recent months. Now, he’s weaving the overtures into his pitch for his sons’ forthcoming startup. While the details of Eric Trump and Donald Trump Jr.'s crypto endeavor haven’t yet been announced, it could stand to benefit from a second Trump administration’s approach to support the industry.

“To promise crypto-friendly policies and have your family engage in the same business is, I think, conflict of interest 101,” said Ishan Mehta, director for media and democracy at Common Cause, a nonprofit that advocates for government transparency.

Crypto is the latest ethics concern to arise around the Trump family’s businesses, which drew intense scrutiny during his first administration after he opted not to divest his holdings in them. In addition to crypto, Trump is also facing new questions about what he would do with his stake in the parent company of the social media service Truth Social.

Read more: https://www.politico.com/news/2024/08/31/trump-crypto-family-affair-00176764

35 replies = new reply since forum marked as read
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Crypto is the new Trump family business. Ethics watchdogs have concerns. (Original Post) BumRushDaShow Aug 31 OP
Crypto and the Trump family business were made for each other. walkingman Aug 31 #1
Like the good money launderers they are. peppertree Aug 31 #15
Anyone who would buy crypto from a Trump wryter2000 Aug 31 #2
insert anything here Stardust Mirror Aug 31 #3
"insert anything unproductive here", I think muriel_volestrangler Aug 31 #8
but if Trump is involved ethics experts will have concerns Stardust Mirror Aug 31 #13
We all know that he avoided all conflicts of interest when he was in office. vapor2 Aug 31 #4
ETTD Deminpenn Aug 31 #5
If he (God help us) should win, he'll abolish the dollar bill and switch America to Trump crypto ificandream Aug 31 #6
He'll peg the dollar to the new BRICS stablecoin. LudwigPastorius Aug 31 #21
Ah, they rebranded the odd-sounding "The DeFiant Ones" it was called a couple a week ago muriel_volestrangler Aug 31 #7
Trump doesn't know anything about governing ThoughtCriminal Aug 31 #9
Not sure if he does, but his puppet masters certainly do FakeNoose Aug 31 #19
Privatization of the dollar. AnnaLee Aug 31 #10
I need to rewatch Mr Robot while it's still on Amazon Prime n/t TexasBushwhacker Aug 31 #12
Trump is so crooked he should wear a mask. Oh wait. twodogsbarking Aug 31 #11
Think of Steve Bannon not letting you sell your coins of his cryptocurrency while he can sell his. keithbvadu2 Aug 31 #14
If you have US dollars Trump wants you to go broke now. ZonkerHarris Aug 31 #16
Is Max Keiser an advisor? wolfie001 Aug 31 #17
The grift continues unabated JoseBalow Aug 31 #18
Everything he touches dies! Take your f..king kids with you! PortTack Aug 31 #20
Under Trump's watch? More like "Gypto". oasis Aug 31 #22
LOL! Or Grifto. Mysterian Sep 1 #35
The Trump family? Crypto currency? What could possibly go wrong! freethought Aug 31 #23
World Liberty Financial equals Treason Money amb123 Sep 1 #24
Nothing was done the first time around moniss Sep 1 #25
Supplanting the Fed implied bucolic_frolic Sep 1 #26
Hit the crypt, fat fuck 45 Blue Owl Sep 1 #27
When will traitor fam get into marijuana sales? Marthe48 Sep 1 #28
Fraud Artists Attract Kid Berwyn Sep 1 #29
Ethics and the convicted felon in the same sentence, only, in La-La land. republianmushroom Sep 1 #30
Another bogus venture to rip off the idiots kimbutgar Sep 1 #31
Not a scam, but grifters are going to grift where there is not JCMach1 Sep 1 #33
Their latest grift... They are way late to the party JCMach1 Sep 1 #32
"We washed your brains! Now let us launder your money!" struggle4progress Sep 1 #34

peppertree

(22,842 posts)
15. Like the good money launderers they are.
Sat Aug 31, 2024, 07:29 PM
Aug 31

They have that much in common with Latin Narcos (besides gaudy bad taste and resentment of the law): they love Crypto.

muriel_volestrangler

(102,360 posts)
8. "insert anything unproductive here", I think
Sat Aug 31, 2024, 06:10 PM
Aug 31

Investing in a productive business, like manufacturing, or infrastructure, with significant middle-class jobs, is too much like hard work and too much money going to employees for them.

Stardust Mirror

(594 posts)
13. but if Trump is involved ethics experts will have concerns
Sat Aug 31, 2024, 06:46 PM
Aug 31

whether the business is normally productive or not, if it's Trump, it's bunk.

muriel_volestrangler

(102,360 posts)
7. Ah, they rebranded the odd-sounding "The DeFiant Ones" it was called a couple a week ago
Sat Aug 31, 2024, 06:07 PM
Aug 31

Aug 22: Inevitable scam: Trump promotes family's new crypto platform, 'The Defiant Ones'

Aug 29:

Trump punts on promise to deliver plan to make U.S. ‘crypto capital of the planet’

Donald Trump told his 90 million followers on X that he would lay out “a plan to ensure the United States will be the crypto capital of the planet” later on Thursday.

By Thursday evening after a rally and a town hall in two battleground states, the Republican presidential nominee had so far punted on his promise to deliver his crypto plan.

Earlier on Thursday, the GOP pick pumped up the Trump Organization’s new crypto platform, which has just been rebranded from “The DeFiant Ones,” to “World Liberty Financial.”
...
As of Thursday, it was unclear what the World Liberty Financial platform would specifically do, and whether the project was operational.

https://www.cnbc.com/2024/08/29/trump-crypto-plan-coming-election-harris.html
Puns on "decentralized finance" and an old movie were too complicated; just bung the word "Liberty" in the title, and it'll keep the MAGA marks happy, obviously.

AnnaLee

(1,149 posts)
10. Privatization of the dollar.
Sat Aug 31, 2024, 06:23 PM
Aug 31

It goes along with the basic libertarian views of the Heritage Foundation. Back in the 20th century it was all about outrage over the detethering of gold. But an ether creation currency untethered with any social ownership is so, so much better. It begins with financial transactions gradually being required to be crypto, I guess. The rentiers become the cryptoiers. The world, with no financial public tie, is their oyster. The dollar, yang, yen, ruble and all others must lose their power. I think I am either beginning to understand the whole world order stuff or, more likely, losing my mind.

keithbvadu2

(39,829 posts)
14. Think of Steve Bannon not letting you sell your coins of his cryptocurrency while he can sell his.
Sat Aug 31, 2024, 07:11 PM
Aug 31

Think of Steve Bannon not letting you sell your coins of his cryptocurrency while he can sell his.

Experts Raise Warnings about Steve Bannon's New Cryptocurrency
Source: Mother Jones

Investing cryptocurrency with Steve Bannon

Crypto investing based on hate before profit.
Profit for the big boys.

An 'investment' that the big boys may not allow you to sell while they can sell at will..

https://www.motherjones.com/politics/2022/01/steve-bannon-boris-epshteyn-fjb-crypto/?fbclid=IwAR0LIVF8XP6mC3wbAaD1Fu9b_Msxe6DBm572KFyuyDjvGwClJ4z2R0zfIzI

freethought

(2,459 posts)
23. The Trump family? Crypto currency? What could possibly go wrong!
Sat Aug 31, 2024, 11:53 PM
Aug 31

Silly me! Just about everything could go wrong, that's what! Well at least they still remember their Russian benefactors.

amb123

(1,595 posts)
24. World Liberty Financial equals Treason Money
Sun Sep 1, 2024, 12:50 AM
Sep 1

Cryptocurrency to fund the destruction of Constitutional government.

moniss

(5,451 posts)
25. Nothing was done the first time around
Sun Sep 1, 2024, 01:14 AM
Sep 1

about the constant conflicts of interest. Yes I know people tried the courts but we know why the decisions went as they did.

bucolic_frolic

(46,561 posts)
26. Supplanting the Fed implied
Sun Sep 1, 2024, 06:03 AM
Sep 1

Trumps wanting control of the global financial system should be no surprise.

But everyone should be very worried.

JCMach1

(27,950 posts)
33. Not a scam, but grifters are going to grift where there is not
Sun Sep 1, 2024, 02:03 PM
Sep 1

Knowledgeable and proper regulation.

We on the left need to understand that and regulate the industry appropriately.

JCMach1

(27,950 posts)
32. Their latest grift... They are way late to the party
Sun Sep 1, 2024, 02:01 PM
Sep 1

Basic whoring for the people who made bag off crypto at this point, at least the RW ones

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