This is one of those un-reported, under reported stories. Popular Information reports that “Justin Sun, a Chinese national currently being prosecuted for fraud by the Securities and Exchange Commission, sent President-elect Donald Trump $18 million in cash. Sun did so by purchasing $30 million in tokens from World Liberty Financial, a crypto company backed by Trump.”
World Liberty Financial planned to sell $300 million of its crypto tokens, known as WLF, which valued the company at $1.5 billion. Before Sun’s purchase, the offering looked like a bust. Only $22 million in tokens had been sold. Per the terms of his deal with World Liberty Financial, Trump is entitled to 75% of proceeds from the token sale, but only after the first $30 million in tokens are sold.
So before Sun’s purchase, Trump was entitled to nothing. Sun conveniently purchased enough tokens to meet the entire reserve, allowing Trump to collect 75% of the revenue of all other tokens sold. As a direct result of Sun’s purchase, Trump netted over $18 million.
Trump’s relationship with World Liberty Financial is a vehicle for any person or entity seeking to curry favor with Trump — foreign or domestic — to send him millions of dollars. This can be done in secret. Justin Sun decided to make his purchase public, but he was not required to do so. The next foreign national seeking to send Trump cash through World Liberty Financial could do so anonymously.
And yet, Sun’s purchase of $30 million in WLF tokens has been ignored by several major media outlets. The New York Times has not mentioned Sun’s purchase of the tokens, even in passing. Other major outlets, like the Associated Press and the Wall Street Journal, have briefly mentioned Sun’s purchase in the context of other coverage.
For some reason, the direct transfer of $18 million by a foreign national being prosecuted by the SEC to the president-elect has not been deemed worthy of meaningful coverage. This is a dramatic change from how the same outlets handled the potential influence of foreign money on other politicians.
And then the article of course goes on to Hillary Clinton and how foreign donations to the Clinton Foundation were scrutinized to beat the band, despite the fact that the donations went into the Foundation’s account and were used for charity, as opposed to going into Hillary’s pocket. Very simply, what’s good for the goose is not good for the gander. Foreign nationals are banned by law from contributing to American politicians’ campaign coffers — unless you are Donald Trump and you have a crypto business going and people can contribute to you that way.
Amazing how the norms of what politicians can and can’t do have deteriorated in this country in the era of Trump, isn’t it? And amazing how the mainstream media is complicit. We are going to see a revolution in this country in how news is reported, is my prediction. The day of the billionaire-owned media companies are not over, per se, but they are going to be in competition with other smaller, yet more honest outfits. The sanewashing of Trump contributed directly to this reelection and that fact is going to propel people to reading and viewing other outlets which are more fact centered.
Aww. You think laws apply to Trump?
Hasn’t suffered any repercussions for his actions yet.
Other than financial, and he’ll just grift that back
Teflon Don indeed.
Right down to teflon being a pervasive substance that gets in everywhere and is slowly poisoning the whole world with it’s presence.
I don’t think that this was a campaign contribution since the proceeds from the sale are presumably going directly to Trump’s pocket. that makes it an outright bribe.