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This is an adapted excerpt from September 16th An episode of “Inside with Jen Psaki.”
On Monday night, during an X livestream, Donald Trump announced his latest business venture, World Liberty Financial. This is basically a crypto stock exchange where you can borrow, lend, and invest.
In addition to Trump, the group's founders include Donald Trump Jr., Eric Trump and Barron Trump, according to a person briefed on the group's founding team. Now, Trump himself doesn't run this business, and the company has a disclaimer saying it's not owned or controlled by the Trump family. However, please note that they can receive compensation.
During the livestream, President Trump talked about his sons' interest in the world of cryptocurrencies, especially 18-year-old Barron. ”
Obviously, we're not talking about Warren Buffett here. It is clear that Trump knows nothing about the crypto business. Just a few years ago, President Trump said that cryptocurrencies aren't even money and are “based on nothing.” But as it happens, one of the best places you can find true satisfaction at the moment is in cryptocurrencies.
Another man involved in the Trump family's business is Chase Herro. As Bloomberg's Zeke Fake reported, Herro is a self-described “dirtbag” whose businesses include marijuana, weight loss colon cleanses, and get-rich-quick courses. In 2018, Herro summed up the cryptocurrency business as follows: that. ”
This is exactly the kind of person our next presidential candidate is trying to do business with.
If Trump wins in November, he will be in the position to elect the SEC chairman, who will have significant responsibility for regulating the cryptocurrency industry. That's a serious conflict of interest. If the president of the United States can make a lot of money with little regulation of business, then the people of the United States can must Please be careful.
charles herman and Alison Detzel contributed.
