It’s the Emoluments, Stupid

Ever since the first Trump administration, I have been arguing that going after Trump’s incessant violations of the Emoluments clause of the Constitution was the way to successfully impeach him, as it is a slam dunk case. Of course, he has now learned that he will never be targeted for overt corruption (boldface mine):

Donald Trump and his family continue to cash in on cryptocurrency from entities looking to curry influence with the president and his administration — which is simultaneously working to deregulate the industry.

At a crypto conference in the United Arab Emirates, Eric Trump and Zach Witkoff announced that the Trump family’s stablecoin — World Liberty Financial’s USD1 — will be the vehicle for the state-backed Emirati investment firm MGX to invest $2 billion into Binance, the world’s largest crypto exchange…

The transaction comes with a host of ethical baggage. For starters, World Liberty Financial (a decentralized exchange “inspired by Donald J. Trump”) is co-created and managed by Trump’s family — as well as that of Trump’s Middle East envoy Steve Witkoff, who has been functioning like a shadow secretary of state — and will now have direct financial ties to Binance, which in November 2023 pleaded guilty to financial crimes including money laundering, sanctions violations, and unlicensed operations. The exchange was slapped with heavy restrictions on operations within the United States. On top of that, the transaction involves a foreign government with clear political interests in the U.S. Much like Trump used his hotels as vehicles for foreign entities to court favor with the presidency, the signal being broadcast by World Liberty Financial is that the Trumps are open to investments

According to an investigation by The New York Times, World Liberty Financial has raked in over $550 million in sales of their stablecoin and WLFI token. The Times found that in their pitches to potential investors, World Liberty Financial stressed their connections to the president.

They kept telling us, ‘We’re like, we’re super close to Trump,’” Mike Silagadze, chief executive of the crypto startup Ether.Fi, told the Times. Dominik Schiener, the founder of a German crypto group who was also approached by World Liberty Financial, added that they found their pitch to be “very dishonest.”

But Hunter Biden!

Impeach him. Impeach him now.

This entry was posted in Bidness, Resistance Rebellion And Death. Bookmark the permalink.

1 Response to It’s the Emoluments, Stupid

  1. Pingback: It’s Still the Emoluments, Stupid | Mike the Mad Biologist

Comments are closed.