The rumors of a Trump endorsed cryptocurrency and platform were given substance with a live broadcast from Mar-A-Lago that occurred on X.com at 8PM EDT on September 16, 2024. Donald Trump spoke briefly and then turned it over to sons, Don, Jr., and Eric Trump. The broadcast was just part of a teaser media blitz to gin up excitement because the website was not live at that time.
Now ‘TrumpWorld’ hopes to replace their sinking Trump Media and Technology Group-Truth Social (shares currently trading below $20.00 a share, a drop of over 70 percent since the listing in March 2024 for the 600,000 shareholders!) with yet another money scheme venture – this time into the more lucrative cryptocurrency space.
Have We Seen This Grift Before?
Remember coins, Bibles, digital trading cards, watches, gold high top sneakers and maybe a $10M Egyptian bribe? And before that, Trump University, steaks, an airline, etc. What else is left but – CRYPTO!!!
They have named the project, ‘World Liberty Financial’. (www.worldlibertyfinancial.com; X.com WLFI @worldlibertyfi and ‘World Liberty Financial’ on Telegram).
The website is now live at worldlibertyfinancial.com. But to utilize the new Trump crypto platform, a potential customer in the US must get pre-qualified by completing their KYC (Know Your Customer) information and be verified as an ‘accredited investor’ pursuant to Regulation D of the Securities Act of 1933.
But a prior crypto World Liberty Financial (@WorldLibertyWLF) entity has been on X.com since 2019!! It hawks its coin, $WLF on the blockchain platform, Solana. This is very confusing – are they the same crypto entities??
‘Crypto Punk’ Business Partners
According to October 7, 2024, reporting by the New York Times, Trump and his sons have taken on two ‘crypto punk’ business partners, Chase Herro and Zachary Folkman. With youngest son Barron, only a college freshman, acknowledged as a ‘crypto visionary’!?
https://www.nytimes.com/2024/10/07/us/politics/donald-trump-crypto-2024-campaign.html
In the above October 7, 2024, NYT reporting, Herro and Folkman are tasked to ” … help engineer a financial revolution based on digital dollars.” That, ” … the platform would facilitate borrowing and lending in cryptocurrencies … and restructure trillions of national debt.”
Really?? How??
Crypto experts who have reviewed the offering were not impressed with the lofty verbiage of the future offering, scant specifics, generous fees to be reserved to the founders, and lack of prior success of Herro and Folkman in bringing a crypto product to market. Not to mention the numerous lawsuits, debts and liens they have accumulated over the years as ‘serial entrepreneurs’.
Another Trump Conflict of Interest!!
Cointelegragh reported about Trump on July 27, 2024, “The moment I’m sworn in, the persecution stops, and the weaponization ends against your industry,” said Trump. “I will appoint a new SEC chairman who believes that America should build the future, not block the future.”
https://cointelegraph.com/news/donald-trump-pledges-fire-sec-chair-gary-gensler
Trump promised to fire the current SEC chairman, Gary Gensler, on ‘day one’ of his new administration because the ‘big money’ crypto lobbyists want him removed to stop blocking their lucrative crypto schemes. Basically they do not want to abide by the federal Securities Acts of 1933 and 1935 that were put in place to prevent fraud – and another financial collapse like the 1929 Great Depression.
Disgraced crypto genius Sam Bankman-Fried (convicted November 2023) sits in federal prison for just such a mammoth fraud after his tsunami of political donation money stopped in 2022 when his FTX house of cards collapsed. He was of course, hit with a lawsuit by the Gensler SEC and then criminally prosecuted by the Department of Justice.
In our opinion, Gensler has been doing nothing more that applying the same laws to crypto as to the rest of the financial markets. Those who play by the market rules depend upon a level playing field enforced by government oversight. If Trump is re-elected he will be in the perfect position to make tons of money off his own crypto scheme while telling the SEC how to regulated that industry.
That would just be another wild conflict of interest by Trump. But who is going to stop him? He has faced absolutely no accountability for his prior conflicts as the 45th President.
The x.com meme below says it all:
