Trump makes corruption great again: part 6

A lot of people have a hard time wrapping their heads around the idea that since the federal government has always had some corruption, that Trump could have brought corruption to an entirely new level. So I thought it might help to give an individual example.
Remember Trump's meme coin that he did a "rug-pull" just days before taking office, and cost his supporters $12 Billion?
Recall that Trump recently defanged the SEC.

Lawyers at the U.S. Securities Exchange Commission (SEC) have been told they need to seek permission from the politically appointed leadership before formally launching probes, two sources briefed on the matter said, in a marked change in procedure that could slow down investigations.

So what does a defanged SEC look like? Like this.

Cryptocurrency tokens known as meme coins -- such as the one promoted by President Donald Trump last month -- are not subject to federal securities regulations, the Securities and Exchange Commission said Thursday.

So what does cryptocurrency, corruption and Trump have in common? I give you Justin Sun.

A businessman who pumped $75 million into the Trump family-backed crypto token finds himself in a fortunate position this week as federal securities regulators are hitting pause on their civil fraud case against him.

On Wednesday, lawyers for the Securities and Exchange Commission and Justin Sun, a 34-year-old Chinese crypto entrepreneur, asked a federal judge to put the agency’s case on hold, citing the interests of both sides and “the public’s interest.”

The pause is a 180 for the SEC, America’s top financial regulator, which two years ago charged Sun and his companies — Tron, BitTorrent and Rainberry — with selling unregistered securities and fraudulently manipulating the price of digital token Tronix. Sun and his companies sought to have the case dismissed.
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“Now anyone in world can essentially deposit money into bank account of President of USA with a couple clicks,” tweeted Anthony Scaramucci, former Trump White House communications director, after Trump launched a digital token known as a memecoin last month. “Every favor — geopolitical, corporate or personal — is now on sale, right out in the open.”

Trump's memcoin isn't the only way that someone can legally bribe the president. Let's not overlook Trump's media company, that is losing money hand over fist.

Trump Media and Technology Group, the parent company of President Trump's social networking site Truth Social, said it lost $400.9 million last year, while its annual revenue declined 12% to $3.6 million.

Despite making almost no money, that didn't stop it from paying Donald Trump Jr. a full 25% of all of it's revenue. Trump also shared DJT stock with FBI director, Kash Patel. That's just nepotism, not actual corruption. This, on the other hand, is corruption.

In March 2024, after surviving a Biden administration investigation involving the Securities and Exchange Commission, FBI, and Department of Homeland Security into the financing of its special purpose acquisition company merger, Trump Media & Technology Group, or TMTG, the parent of Truth Social, became a publicly traded company. It did so with an assist from Jeff Yass, the options king, ByteDance investor, and richest man in Pennsylvania. After helping Trump find religion on ByteDance’s mega-popular app TikTok, Yass’s firm became the largest shareholder of the holding company Trump Media was merging with, helping the venture survive a lean financial period when two Truth Social investors pleaded guilty to securities fraud as part of an insider trading investigation.

In case it isn't clear, white-collar defense attorneys are actually scared for their jobs because they believe that laws against financial crimes will stop being enforced.

“Abolishing globally focused investigative teams and restricting the scope of overseas bribery and foreign lobbying transparency probes will have a significant impact on what’s been a boon for the defense bar this century,” wrote Bloomberg Law.
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unfortunately, I'm totally speechless contemplating this.

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