Yesterday, the Financial Times reported that Trump Media & Technology Group (TMTG) reportedly plans to raise up to $3 billion to invest in cryptocurrencies, especially Bitcoin.
However, early this morning, TMTG refuted the information, saying: "Apparently, the (Financial Times) reporter foolishly believed an even dumber source." In addition, TMTG also called (Reuters) and (Financial Times) "fake news" media.
Of course I believe this is fake news, because Trump's family now wants to raise 3 billion US dollars, and there is no need to use such old-fashioned methods as transferring stocks and issuing bonds. Now Trump has been in office for less than half a year, and without counting the profits from insider trading, his family's profits from cryptocurrency alone have exceeded 3 billion US dollars~
Trump started selling NFTs to make money in 2022, and at that time he only earned a few hundred million dollars to subsidize his family expenses.
But things have changed since Trump took office. On May 2, the media reported that the Trump family's crypto income has exceeded 2.9 billion US dollars. Now three weeks have passed, and it is conservatively estimated that their crypto income must have exceeded 3 billion US dollars.
Currently, the Trump family's apparent income comes from three projects: the $Trump meme coin issued on Solana, World Liberty Finance, which collects advertising fees from altcoin platforms, and the USD1 stablecoin, which earns interest without any reason.
Currently, Trump has directly earned more than 600 million US dollars from $Trump, mainly from selling coins and transaction fees. However, 80% of $Trump tokens have not been unlocked. If calculated based on the current valuation, the price of the unlocked part is close to 10 billion US dollars!
World Liberty Financial (WLF) was also a profitable venture, with the Trump family reaping the bulk of the benefits through a 75% share of net income and a 60% operating stake.
WLF not only frequently supports various VC coins, but now there are more than 100 altcoins in the portofolio, but it still cannot stop various project parties from sending coins to this address~ (WLFI is not Trump's strict selection, it just collects advertising fees!)
But according to official propaganda, WLF's main source of income is the interest paid by borrowers, which is said to be worth several hundred million yuan.
But to be honest, I am familiar with this plot.
I know that many relatives of leaders are also in the loan sharking business. People who need something from the leaders go to their homes to borrow money at high interest rates.
You don't even have to actually borrow the money, just keep a record of it, and you can pay the interest in advance, hahaha~
But according to official propaganda, WLF's main source of income is the interest paid by borrowers, which is said to be worth several hundred million yuan.
But to be honest, I am familiar with this plot.
I know that many relatives of leaders are also in the loan sharking business. People who need something from the leaders go to their homes to borrow money at high interest rates.
You don't even have to actually borrow the money, just keep a record of it, and you can pay the interest in advance, hahaha~
By this calculation, the Trump family's direct cash income exceeded 3 billion US dollars.
Biden's entire family was corrupt for four years, but the amount they were accused of was only 30 million US dollars.
Trump's family blatantly earned $3 billion in half a year, enough for Biden's family to serve 100 terms.