Melanie D’Arrigo @DarrigoMelanie 5h
The President, who owns a crypto company and personally profits from it, is using his official position to pressure Congress to vote for a bill that will personally make him more money and shield him from accountability.
This is what a corrupt oligarchy looks like.
___World Liberty Financial, a cryptocurrency venture Trump helped launch last year, announced in March that it planned to launch USD1, a stablecoin pegged at a 1-to-1 ratio to the U.S. dollar.
Stablecoins are among the fastest growing segments of the cryptocurrency industry. They are typically backed by a government-issued currency, like the dollar, or to gold, making them better suited to commercial transactions than more volatile digital assets like bitcoin or other cryptocurrencies.
World Liberty’s announcement came amid a push by Congress, with strong support by the White House, to pass legislation that supporters say would make it easier for stablecoin companies to operate and grow in the U.S.
Zach Witkoff, a World Liberty Financial co-founder and his father, Trump’s special diplomatic envoy Steve Witkoff, helped launch World Liberty Financial with Trump and his sons last year. Under the terms outlined on the company’s website, a Trump-owned company has the “right to receive 75% of the net protocol revenues” from World Liberty Financial after expenses.
Trump Media & Technology Group Corp. announced it was partnering with the crypto-trading firm Crypto.com to launch exchange-traded funds for investors to purchase… TMTG is the parent company of Trump’s social media company, Truth Social.
https://apnews.com/article/trump-crypto-world-liberty-truth-social-etf-f11c47a99ea618aa06df4dd47b150800
…Trump’s crypto-grifting began before he was even sworn in:
…not so fast on the legislation:
