Eric Schmitt

And so, I mean, again, it's like they're directly selling access to the President of the United States if you buy his meme coin that's gonna bring him and his family profits. And not only that, but they say for the top people, at the top of the 220, we will give you a tour of the White House.

And so, I mean, again, it's like they're directly selling access to the President of the United States if you buy his meme coin that's gonna bring him and his family profits. And not only that, but they say for the top people, at the top of the 220, we will give you a tour of the White House.

That's right. I mean, you know, this is not a campaign contribution. This is a payment that benefits financially the president and his family. And that's what makes it so unprecedented is, yeah, we live in a democracy where campaign contributions are legal. And if you make a lot of them, you get more access.

That's right. I mean, you know, this is not a campaign contribution. This is a payment that benefits financially the president and his family. And that's what makes it so unprecedented is, yeah, we live in a democracy where campaign contributions are legal. And if you make a lot of them, you get more access.

But we don't live in a country where traditionally if you pay the elected president of the United States money personally, then you can have dinner with him and you've enriched his family personally. And so that's the distinction here is that the president and his family are personally profiting from this.

But we don't live in a country where traditionally if you pay the elected president of the United States money personally, then you can have dinner with him and you've enriched his family personally. And so that's the distinction here is that the president and his family are personally profiting from this.

But as we continued to look at this and learned more about the meme coin, what we realized is that this was just a small piece of the cryptocurrency efforts that the Trump family was undertaking. And in fact, the scale of the self-enrichment was even greater with their second venture that they call World Liberty Financial.

But as we continued to look at this and learned more about the meme coin, what we realized is that this was just a small piece of the cryptocurrency efforts that the Trump family was undertaking. And in fact, the scale of the self-enrichment was even greater with their second venture that they call World Liberty Financial.

World Liberty is effectively a cryptocurrency bank. This is the Trump family saying, we're going to become the JPMorgan Chase of the cryptocurrency world, and we're going to make a lot of money doing it. So at first, this new business venture is kicked off shortly before the election. It's not taken very seriously. It's being promoted by three of Trump's sons. Eric Trump, Don Jr.

World Liberty is effectively a cryptocurrency bank. This is the Trump family saying, we're going to become the JPMorgan Chase of the cryptocurrency world, and we're going to make a lot of money doing it. So at first, this new business venture is kicked off shortly before the election. It's not taken very seriously. It's being promoted by three of Trump's sons. Eric Trump, Don Jr.

and Barron, who's now becoming a part of the family business ventures. And then they've got other outside partners that for the most part we'd never heard of. I mean, a guy named Zach Folkman, Chase Hero, who were these serial entrepreneurs that have had a series of business failures. They sold a colon cleanser. One of them was selling, you know, kind of how to pick up hot girls advice.

and Barron, who's now becoming a part of the family business ventures. And then they've got other outside partners that for the most part we'd never heard of. I mean, a guy named Zach Folkman, Chase Hero, who were these serial entrepreneurs that have had a series of business failures. They sold a colon cleanser. One of them was selling, you know, kind of how to pick up hot girls advice.

No, it really was called that. It was a website called DateHotterGirls.com. Wow. And then Zach Witkoff, who's the son of Trump's new Middle East envoy, Steve Witkoff, who's a real estate lawyer and a friend of Trump's for years. And so it's the Trump sons and these other players that we've not heard of before.

No, it really was called that. It was a website called DateHotterGirls.com. Wow. And then Zach Witkoff, who's the son of Trump's new Middle East envoy, Steve Witkoff, who's a real estate lawyer and a friend of Trump's for years. And so it's the Trump sons and these other players that we've not heard of before.

They lay out some of these ambitions in something they call the gold paper, which on the title page has this large portrait of Donald Trump with gold paint splashed across it. Trump's face is on every single page of this document that details their ambitions. And, you know, they start off by just introducing this token that certain types of investors can buy in October of 2024.

They lay out some of these ambitions in something they call the gold paper, which on the title page has this large portrait of Donald Trump with gold paint splashed across it. Trump's face is on every single page of this document that details their ambitions. And, you know, they start off by just introducing this token that certain types of investors can buy in October of 2024.

That's right. It's very different from the meme coin. This is a token that gives buyers a say in the governance of this new financial institution. And it can't be bought and sold very rapidly. It has all kinds of rules around it. But the Trump family from the start was going to own billions of these tokens more than anyone else.

That's right. It's very different from the meme coin. This is a token that gives buyers a say in the governance of this new financial institution. And it can't be bought and sold very rapidly. It has all kinds of rules around it. But the Trump family from the start was going to own billions of these tokens more than anyone else.

It's actually quite a flop, and they way underperformed their target of having $300 million in sales. They only attract a fraction of that total. But Trump then wins the election, and from the night of the election, the money starts to pour in, where suddenly... There are people that want to try to influence Trump.

It's actually quite a flop, and they way underperformed their target of having $300 million in sales. They only attract a fraction of that total. But Trump then wins the election, and from the night of the election, the money starts to pour in, where suddenly... There are people that want to try to influence Trump.