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AND WHY WOULDN'T I?
I'M ABOVE THE LAW, NO ONE CAN STOP ME
olly olly oxen free
https://www.msn.com/en-us/news/polit...nt/ar-AA1CwOnvThe U.S. Department of Justice (DOJ) has disbanded its National Cryptocurrency Enforcement Team (NCET) in what was once seen as a central task force for the federal government on crypto matters—the four-page memo, released Monday evening by Deputy Attorney General Todd Blanche.
Blanche cited President Trump's January executive order as the catalyst for his decision.
Established in Feb. 2022, NCET was a regulatory authority that oversaw the criminal abuse of cryptocurrencies and digital assets. It brought together prosecutors from the DOJ's money laundering and cybercrime divisions.
It helped lead high-profile crypto cases, such as those around Tornado Cash, Avraham Eisenberg, and North Korean hackers. The unit is no longer running, "effective immediately," said Blanche.
Blanche, who also represented Trump as his key defense attorney in his 2024 criminal trial, wrote, "The Department of Justice is not a digital assets regulator," denouncing the department saying it was a "reckless strategy of regulation by prosecution" under the Biden administration.
AND WHY WOULDN'T I?
I'M ABOVE THE LAW, NO ONE CAN STOP ME
Trump auctioning off personal access and a White House tour
Corruption is just a background assumption for Republicans
Trump will have dinner with the top 220 holders of the Trump memecoin at an “intimate private dinner” on May 22 at his private club in Washington. The top 25 Trump coin holders will also get a White House tour and reception before the dinner. www.bloomberg.com/news/article...
The coin skyrocketed on the news, at one point up 49%
How does one turn those Cryto coins into spendable money/cash, Winester?
bright line corruption and self-dealing
https://www.nytimes.com/2025/04/29/u...l.BB1df1DOQGkUMr. Trump’s return to the White House has opened lucrative new pathways for him to cash in on his power, whether through his social media company or new overseas real estate deals. But none of the Trump family’s other business endeavors pose conflicts of interest that compare to those that have emerged since the birth of World Liberty.
The firm, largely owned by a Trump family corporate en y, has erased centuries-old presidential norms, eviscerating the boundary between private enterprise and government policy in a manner without precedent in modern American history.
Mr. Trump is now not only a major crypto dealer; he is also the industry’s top policy maker. So far in his second term, Mr. Trump has leveraged his presidential powers in ways that have benefited the industry — and in some cases his own company — even though he had spent years deriding crypto as a haven for drug dealers and scammers.
He has filled his administration with sympathizers to the crypto cause, including by appointing a former adviser to industry players as chairman of the Securities and Exchange Commission. In addition, the Justice Department recently disbanded a crypto crimes task force, continuing a broader unwinding of Biden-era scrutiny of the industry.
A Times examination of World Liberty’s rapid ascent from fledgling startup to international force — and Mr. Trump’s conversion from crypto skeptic to industry cheerleader — highlights the range of conflicts of interest trailing the company:
- World Liberty has directly benefited from Mr. Trump’s official actions, such as his announcement of a federal crypto stockpile that would include a digital currency the firm has invested in. The president’s announcement caused a temporary jump in the value of World Liberty’s holdings.
- World Liberty has sold its cryptocurrency to investors abroad, including in Israel and Hong Kong, according to interviews and data obtained by The Times, establishing a new avenue for foreign businesses to try to curry favor with Mr. Trump.
- Several investors in World Liberty’s coin managed firms that the federal government accused of wrongdoing. They include an executive whose fraud case was suspended after he invested millions of dollars in World Liberty. Other investors and business partners, some of whom haven’t been publicly identified before, are looking to expand in ways that will require the Trump administration’s approval.
- World Liberty proposed swapping cryptocurrencies with at least five start-ups, and often used the Trump name to solicit steep payments as part of the deals. Even in an industry with a disreputable history, the deals raised alarm among veteran executives.
“It’s a black spot on our industry,” said Andre Cronje, a founder of SonicLabs, a crypto firm that turned down World Liberty’s pitch. Anyone who accepted would “obviously think they’re going to make money because it’s the officially endorsed Trump project.”
A spokesman for World Liberty, David Wachsman, disputed that any of the company’s deals cons uted a “one-sided payment for services rendered.” But he acknowledged that the company has engaged in “mutual investment deals,” and said that its deal-making had resulted in “thoughtful, strategic exchanges between parties who stand to mutually benefit.”
Mr. Wachsman also said it would be “false, absurd and dangerous to suggest that investments or partnerships with World Liberty Financial were conducted as some sort of political quid pro quo.”
“Never has an investor or partner requested any political favoritism,” he said. “Nor would we ever entertain such a possibility.”
Still, the company’s deal-making benefits the president’s family. A Trump business en y owns 60 percent of World Liberty, according to the company’s website, and is en led to 75 percent of certain revenue from coin sales, which could be converted into cash.
“It’s one of the more successful things we’ve ever done,” Eric Trump, the president’s son who runs the family business, said in an interview this month at the Trump Doral golf course in Florida.
SOP. The Magic Negro came in to the WH with $3 million. He left the WH 8 years later with over $70 million. On a salary that paid him a half million a year.
Let us proceed...
No no, Trump is already rich, he doesn't need any more money. He's 100% in it for America.
He's not in it for that big luxury jet they offered.
Funny, TSA and the rest of the Trump s haven't said about this stuff.
Bribe-o-rama
https://www.cbsnews.com/news/trump-m...lion-analysis/Buyers spent more than $140 million to snap up $TRUMP meme coins in a bid to secure an invitation to an "intimate dinner" with President Trump, according to data analytics firm Inca Digital.
On April 23, the digital currency got a boost when it announced that its top 220 holders as of May 12 would be invited to a dinner with the president. That helped raise the value of the meme coin by more than 40% from the announcement through May 12, partially reversing an 88% slump in the weeks prior.
The top holders of the $TRUMP meme coin spent anywhere from as little as $53,500 to as much as $16.4 million to grab one of the dinner invites with Mr. Trump, Inca Digital's analysis found.
As of the contest's end on May 12, the biggest holder of the digital currency was an account named Sun VIP, according to the analysis. While it's impossible to know the iden y of any of the account owners due to the anonymity of digital wallets, many of the purchases were made through exchanges that don't accept U.S. customers, such as Bybit and Gate.io, Inca's research reveals.
"A ton of these users sent funds to international exchanges," noted Austin Ryan, director of marketing for Inca Digital, a firm that analyzes crypto data for risk issues like liquidity and front-running. "The thought is that if they are interacting with those exchanges, they are not in the U.S."
the main use cases of crypto are crime and corruption -- it's not fit for purpose as a currency otherwise
https://99bitcoins.com/news/exchange...-insider-scam/Coinbase, one of the biggest names in crypto, is dealing with a serious mess. A recent cyber attack targeted the company’s internal systems through a mix of deception and insider manipulation. The Coinbase hack wasn’t just another phishing attempt. It involved insiders, stolen data, and a potential $400 million fallout. Now, the fallout could cost the exchange anywhere from $180 million to $400 million, and that’s before we even get into reputational damage.
https://www.nbcnews.com/tech/crypto/...age-rcna207802Even the winners at the bottom of the leaderboard spent far more than the legal limit for an American to donate directly to a political candidate, $3,500.
The top spender revealed himself Tuesday as Justin Sun, a Chinese-born crypto entrepreneur who told Forbes in March he had become a citizen of the tiny island nation of St. Kitts and Nevis. Sun was sued by the Securities and Exchange Commission, but that case has been paused under the Trump administration.
The iden ies of most of the other contest winners are largely private, known only by their pseudonymous nicknames and cryptocurrency wallet addresses. However, a majority of the attendees appear to be foreign nationals, according to Molly White, an independent crypto researcher who has written about the contest.
White examined each winning wallet’s transactions as they crossed through different crypto exchanges, and noted when the holder appeared to use an exchange that does not legally allow U.S. citizens. Of the 220 wallets tied to contest winners, 158 of them, or 72%, appear foreign, White told NBC News.
A New York Times investigation reported that the leaderboard included people representing crypto businesses in Singapore and Australia.
The prevalence of non-U.S. citizens among the contest winners is notable, as it is generally illegal for people who are not U.S. citizens to donate to American political candidates, Weiner said.
still with the same tired old bull
110k here we come
It feels like The Coin will reach 200k by end of this year
I own some and even I think it's a Ponzi scheme. If the US dollar collapses because of the huge financial crisis that is probably coming our way then look out. It really could take off....It feels like The Coin will reach 200k by end of this year
Im only talking about bitcoin
How d can u consider it a ponzy scheme with the stability and uptrend it has had las 2-3 years?
That graph is an investors dream
Lol
I'm talking about bitcoin. Every Ponzi scheme has stability and uptrend in appearance and for the first people to cash out.... then it eventually collapses. Maybe it's more accurate to call it a massive "pump and dump" scheme instead of Ponzi TBH.
Adam Levitin in Credit Slips on the GENIUS ACT
Backing up stablecoins with FDIC deposits has some foreseeable problems
https://www.creditslips.org/creditsl...epositors.htmlThe Senate is set to take up a vote on this Thursday on the GENIUS Act, the legislation to create a regulatory framework for stablecoins. Whatever else one might think about stablecoins or the GENIUS Act, its insolvency provisions are an absolute mess, both conceptually and in drafting. If the GENIUS Act becomes the law, we're in for a FUBAR situation when a stablecoin issuer ends up insolvent. Even more concerning, if a bank custodian for a stablecoin issuer's reserves ends up insolvent, the claims of the stablecoin investors will come ahead of the bank depositors. That's right. Crypto comes ahead of ma-and-pa.
The effect: stablecoins are being subsidized by bank deposits. Now that's GENIUS.
Yes, you read that correctly: Congress is about to put the claims of stablecoin investors ahead of ma and pa's bank deposits. That's just stunning. Now ma-and-pa's deposits are FDIC insured, so they'll be alright, but it means the FDIC's Deposit Insurance Fund is footing the bill. In other words, the GENIUS Act is subsidizing stablecoin issuance on the back of bank deposits. By subordinating the FDIC's subrogation claim in a bank insolvency to the claims of stablecoin investors, the GENIUS Act is effectively letting FDIC insurance leak out to cover uninsured stablecoins, without any insurance premiums paid. That's just wrong. Whatever the merits of stablecoins, they shouldn't be subsidized by the banking system. Satoshi would be turning in his grave to see his vision of an unintermediated p2p payment system be transformed into a centralized system that relies on a forced subsidy from the banking sector.
Yeash ponzi is not. There is no pyramid and noone controls the scheme
Amything could be pump and dump. Wall street is pump and dump
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