Home / General / I’m not sure that Trump’s crypto business is on the level

I’m not sure that Trump’s crypto business is on the level

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Trump’s associates in his new crypto scam are precisely what you would expect:

Chase Herro is an online salesman who proudly calls himself a “dirtbag of the internet,” able to sell anything to anyone. Zachary Folkman ran a company called Date Hotter Girls, offering advice under a pseudonym on how to pick up women at bars.

For the past decade or so, the two men have been serial entrepreneurs, leaving behind a trail of lawsuits and unpaid debt and taxes.

Now they are former President Donald J. Trump’s business partners.

Mr. Herro and Mr. Folkman are the forces behind World Liberty Financial, a cryptocurrency venture that Mr. Trump and his three sons announced on a livestream last month. The Republican presidential candidate declared his new enterprise would help turn the United States into “the crypto capital of the world.”

His eldest son, Donald Trump Jr., said Mr. Herro and Mr. Folkman would help engineer a financial revolution based on digital dollars. “You could put them in a boardroom at Goldman Sachs, and they’re going to smoke the people in the room,” he said.

Other crypto experts have expressed doubt, even alarm, about the business, the former president’s involvement and his partners. Eswar Prasad, an economics professor at Cornell University, said Mr. Herro and Mr. Folkman did not appear to have the technical or financial savvy to make the venture work.

The concept behind it, which was pitched as groundbreaking, seemed similar to other existing crypto ventures, said John Reed Stark, a former senior official with the Securities and Exchange Commission.

“It’s a bunch of nonsense, and a terrible opportunity for investors,” he said.

For Mr. Trump, the project is part of an extraordinary effort to mix his personal finances with his bid to return to political power. Mr. Trump campaigns daily on a social platform owned by the Trump Media & Technology Group. Since he announced his new election effort, he has sold silver coins, Bibles, gold hightop sneakers, digital trading cards and, as of last week, diamond-encrusted watches, all branded with his name, image or campaign themes.

“…leaving behind a trail of lawsuits and unpaid debt and taxes” sounds familiar.

It’s simply taken for granted that a lifetime con artist who openly works with other con artists to bilk his admirers out of every dine possible is a normal and legitimate candidate for president, even though he also tried to violently overthrow an election. Indeed, the nation’s highest judicial body invented an incredibly broad immunity ex nihilo for his benefit! I’m so old I remember when Bill and Hillary Clinton being involved in a minor money-losing real estate deal led to a years-long special prosecutor’s investigation, that one signatory to Trump v. US was directly involved with.

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