Report shows massive scale of Trump family’s crypto gambit


Plus, Trump Jr.’s drone company nets a government contract, Kyrsten Sinema’s tech fantasies spark outcry, the Trump admin expands surveillance and more.

The scale of Trump’s crypto self-enrichment

new Reuters report breaks down the Trump family cryptocurrency empire, which Donald Trump and his children have promoted since his return to office, and finds that it has generated 17 times the income the Trump family generated just last year. The report, compiled from the “president’s official disclosures, property records, financial records released in court cases, crypto trade information and other sources,” says some of this wealth was generated via the investment of a bunch of characters that Reuters describes as having “histories of legal and regulatory entanglements related to their business endeavors,” including a Chinese crypto enthusiast who’s under investigation for alleged money laundering in Britain.

The details seem to offer the clearest view yet of the breadth of self-enrichment the president and his sons have engaged in since Trump’s election.

According to the report:

The Trump brothers’ efforts have been a whopping success. In the first half of this year, the Trump Organization’s income soared 17-fold to $864 million from $51 million a year earlier, according to Reuters calculations based on the president’s official disclosures, property records, financial records released in court cases, crypto trade information and other sources. Of the first-half total, $802 million — more than 90% — came from Trump crypto ventures, including sales of World Liberty tokens.

Trump Jr.’s company gets drone deal

The Pentagon has signed a multimillion-dollar contract with Unusual Machines, a drone company that counts Donald Trump Jr. as a member of an advisory board and part owner — an arrangement that raises a laundry list of ethical concerns. (A Trump spokesperson told The New Republic that “Don has never communicated with anyone in the administration on behalf of Unusual Machines or about the contract in question.”)

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