Replies to post #542733 on Tornado Alley (PROG)

[Zorax]

And we owe it all to mitch the turtle and the scrotum court he was allowed to load.

cheeto knows he's only safe hiding in the WH.

[PegnVA]

I have never seen such open corruption: Trump's crypto deals and loosening of ruler shock observers. - Corruption is T's calling card.

[fuagf]

Why President Trump’s latest crypto scandal could spell disaster for the blockchain industry

"‘I have never seen such open corruption’: Trump’s crypto deals and loosening of rules shock observers
[...]
“Self-enrichment is exactly what the founders feared most in a leader – that’s why they put two separate prohibitions on self-benefit into the constitution,” said former federal prosecutor Paul Rosenzweig. “Trump’s profiting from his presidential memecoin is a textbook example of what the framers wanted to avoid.”
[Insert: If Trump's gross violation of the self-benefit prohibitions
in the constitution are not grounds for impeachment, what is.]
Scholars, too, offer a harsh analysis of Trump’s crypto dealings.
“I have never seen such open corruption in any modern government anywhere,” said Steven Levitsky, a professor of government at Harvard University and an expert on authoritarian regimes who co-authored the book How Democracies Die.
‘This is the looting of America’: Trump and Co’s extraordinary conflicts of interest in his second term
Read more > https://www.theguardian.com/us-news/2025/jun/16/trump-conflict-of-interest
[...]
One lucrative deal raised eyebrows when WLF was tapped to play a central role in a $2bn investment by Abu Dhabi financial fund MGX that is backed by the United Arab Emirates in the world’s largest crypto exchange, Binance.
P - As part of the deal, the Abu Dhabi fund bought $2bn of a WLF stablecoin, dubbed USD1, to invest in Binance. Stablecoins are a popular type of cryptocurrency that are often pegged to the dollar.
P - The WLF deal comes after Binance in 2023 pleaded guilty to violating US money-laundering laws and other violations and the justice department fined it a whopping $4bn.
P - Furthermore, Binance’s ex-CEO and founder, Changpeng Zhao, pleaded guilty in the US to violating the Bank Secrecy Act and failing to maintain an effective anti-money-laundering program.
P - Zhao, who still owns 90% of Binance, served a four-month jail term last year."

Related:

The shitstain mafia must be shorting bitcoin.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=177266912

Trump token $ 3.43, and Melania token 11 cents, nice to see Republicans never say a word on all of trump rip offs.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=177267682

VIDEO- Crypto & banking leaders to meet at White House: What's at stake
.
Leo Schwartz
Tue, February 3, 2026 at 10:39 PM GMT+11

In this article:

TRUMP35336-USD -15.32%
https://finance.yahoo.com/quote/TRUMP35336-USD/

Just over a year ago, I stood in a gilded Washington, D.C. ballroom during inauguration weekend, surrounded by the blockchain industry’s top executives and investors. They had traded in their hoodies for tuxedos and gowns, celebrating the ascension of the first “crypto president,” Donald Trump, who had embraced the once-renegade sector on the campaign trail. But halfway through the night, whispers began spreading through the crowd that Trump, who was not in attendance, had launched his own memecoin. Around the end of a DJ set by Snoop Dogg, the Trump coin had crossed $1 billion.

Some of the shrewder members of the audience immediately clocked what was happening. Trump, who has made a career out of branding everything from casinos to steaks to unaccredited colleges, was doing the same with crypto. Would Trump’s latest business venture go the way of Trump Tower or Trump University?

As we quickly found out, the quality of the Trump family’s crypto endeavors was almost a red herring (though we have reported closely on it, including in my colleague Ben Weiss’s terrific new feature on American Bitcoin .. https://fortune.com/article/eric-trump-donald-trump-american-bitcoin-newest-arm-trump-crypto-empire/ ). Instead, ethics watchdogs have argued .. https://fortune.com/crypto/2025/01/21/trump-memecoin-crypto-ethics-violation-emoluments-melania/ .. that Trump has used his blockchain businesses as a way to sell access. But unlike concerns during his first term that foreign dignitaries could book rooms in Trump hotels, which taught the term “emoluments” to millions of Americans, now anyone with an internet connection could effectively wire Trump millions of dollars by setting up a digital wallet and reap the rewards. His top memecoin holders enjoyed a private audience with the president last May, though they weren’t all pleased by the food they were served.

In hindsight, those ethics concerns also look quaint. On Saturday night, the Wall Street Journal published a bombshell report that two lieutenants to a member of the Abu Dhabi royal family signed a contract to funnel $500 million into World Liberty Financial, the Trump family’s crypto platform, in exchange for a 49% ownership stake, just days before his inauguration. As the Journal plainly stated, this was something unprecedented in American politics: “A foreign government official taking a major ownership stake in an incoming U.S. president’s company.” And just a few months later, the Trump administration granted the United Arab Emirates access to advanced U.S. chips despite widespread security concerns (though a World Liberty spokesperson told Fortune that the deal had nothing to do with the administration’s actions on chips).

As the shockwaves of the scandal reverberate, an awkward question lingers: Is Trump bad for blockchain? The industry spent hundreds of millions of dollars on the 2024 election, culminating in the coronation of Trump, who has championed digital asset regulation, hosted summits, and appointed czars. But now, the landmark Clarity Act is stalled in the Senate as Democrats call for ethics provisions that would prohibit the president from profiting off crypto holdings, and that groundswell of opposition is only likely to grow. And despite Trump’s cheerleading, Bitcoin prices are nearly at their lowest price in a year, with many retail traders staying away .. https://www.bloomberg.com/news/articles/2026-02-02/crypto-exchanges-buckle-as-stock-losses-top-55-on-retail-exodus?embedded-checkout=true .

For many Americans, crypto is now inextricably linked to the Trump family. Be careful what you wish for.

Merger madness…SpaceX completed a long-rumored acquisition of xAI, both Elon Musk companies, in a stunning deal that could set the joint venture up for one of the largest IPOs in history by market value. This comes months after xAI acquired X, another Musk venture, in a $33 billion, all-stock deal, and a month after Tesla revealed it had invested $2 billion in xAI. According to reporting in Bloomberg, the new deal will lead to a combined enterprise value of $1.25 trillion. You can read all about it here.

https://finance.yahoo.com/news/why-president-trump-latest-crypto-113915828.html

[OMOLIVES]

I asked you to point to the specifics. Instead you showed me a couple of opinions on crypto. Everyone called cyrpto a scam previously and I still do. Just so you know..someone's opinion.:

WOODS: If it wasn't already. So is it legal for a president to launch a meme coin? Elizabeth Wydra is the president of the Constitutional Accountability Center. That's a nonpartisan nonprofit that promotes the Constitution for progressive outcomes.

ELIZABETH WYDRA: So there's no explicit law against it. But you know, certainly, there are laws that are implicated by launching a meme coin like this. And they range from the foreign emoluments clause of the Constitution to federal campaign laws.

https://www.npr.org/transcripts/1253616093

Please read the art'...you'll find your argument. But you have to understand that there is absolutely no precedent. Except for one possible note. He was able to IPO(pseudo) a social networking shit site while running for president. The SEC stalled to their best ability...but it went through. All while running for office. That passed the smell test. Most of it does...and if you know law....most things do for most people. Most don't know law though...and I can't necessarily blame them.