Trump held a cryptocurrency dinner to raise money and is being questioned: This is not a business activity, it's clearly a green light for foreign funds!
This Thursday (May 22), 220 cryptocurrency players will have dinner with Trump at a high-end club in the suburbs of Washington. The most eye-catching is the Chinese crypto tycoon Sun Yuchen, who is the top VIP with $18.5 million worth of 'Trump Coins'. This Sun Yuchen is not simple; he is not only the top financier of the Trump family's cryptocurrency platform but has also just had a fraud investigation paused by the SEC—this operation smells fishy.
This dinner is essentially a blatant money game. A blockchain company investigation found that investors spent $148 million on tickets, and the top 25 financiers contributed $111 million. Even more outrageous, the Trump family kept 80% of the coins for themselves, earning $320 million just from transaction fees, with $1.35 million immediately deposited after the dinner announcement. This is not a business activity; it's clearly a green light for foreign funds!
60% of the attendees are foreign investors, with some bringing tens of millions of dollars for a chance to take a photo with Trump. What's even more outrageous is that the top four can receive a $100,000 Patek Philippe watch. This is not a dinner; it's a 'money parade'!
The Democrats have long been unable to watch this and have directly threatened to expose the attendee list. Legislators criticized this as a 'degradation of the president's money-making competition', allowing foreign anonymous funds to influence American politics through cryptocurrency. Even Republican legislators cannot stand it, saying that this scene makes her 'start to reflect'.
Market data is even more ironic: 60 large holders made $1.5 billion, while 600,000 retail investors lost $3.87 billion. The Trump family is cashing out madly through cryptocurrency, with even their own crypto platform becoming a cash machine. This is not innovation; it's clearly exploiting regulatory loopholes to harvest global investors. A sitting president engaging in such 'coin issuance for money' business is truly eye-opening for the ordinary people.
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