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Michael Popak
Shoppers We've got another crypto scandal. Potential stock fraud by Donald J. Trump. This time a new announcement or at least a some insider information reported to Financial Times that indicates that Donald Trump and his company Truth Social is about to launch a $3 billion capital raise through a secondary offering in which they will use the billion to do what? To invest in infrastructure to buy media projects to shore up perhaps Truth or Truth Social? Nope. To buy an asset. In this case to buy crypto to buy $3 billion worth of cryptocurrency. Listen, cryptocurrency has gone sky high, including Bitcoin, which has now reached $190,000 a coin. Ever since Donald Trump's been president, he's announced that he's going to use his presidency as a printing press to print money using Cryp currency as the method he's going to line his pockets. And he's done it in a number of ways. This is a new way. I've reported in the past about his using World Liberty Financial wlf, a company owned entity along with Steve Witkoff, who runs around as our de facto Secretary of State, in order to provide a liquidity source to create a market for the buy and the sell of cryptocurrency. It is through World Liberty Finance, for instance, that the government of Abu Dhabi is about to make an investment into that other stock fraudster by the securities and Exchange Commission binance of several billion dollars using the World Liberty financial platform as its basis and using Stablecoin, which is sort of tied to the US dollar, as opposed to being a free floating cryptocurrency like Bitcoin, to make the investment. All shepherded by a small inner circle inner sanctum of interlocking people between Donald Trump and Don Trump's family. The cabinet in Donald Trump's family. You know who's making a lot of money right now in cryptocurrency? Our Commerce Secretary's family and our Commerce Secretary, Howard Lutnick. His family just announced this week alone they wanna get in on the act too. So his son, Brandon Lutnick, formerly a disc jockey, who now apparently runs the company pursuant to a trust. He just announced that they're gonna get into a large crypto deal. They're gonna create a special purpose acquisition company, a spac, publicly traded blank, if you will. Really not regulated that much. And they're gonna try to raise a $3.6 billion. To do what? To make an investment in some sort of vehicle? No, to buy Bitcoin. That's all the rage now. You don't actually have to have a going concern, you don't have to have a underlying company. You just buy Bitcoin and you let that, you, you ride out Bitcoin and that helps the enterprise value of your company. Now, where does the stock fraud come in with Donald Trump? I looked high and low in all the securities filings I mentioned. I'm on the Midas Dutch network and I'm Michael Popak by having. I'm sorry, it's been a very long week, as most of you know, but I am on the Midas Dutch network and legal af and I am Michael Popo. So I looked high and low in all the securities filings for Donald Trump's company. See, when you're a publicly traded company and you want to get access to public dollars and you want to have people invest in you, you got to be regulated by the securities and Exchange Commission. Unfortunately, right now the securities and Exchange Commission is led by a puppet, a meat puppet, if you will, selected by Donald Trump, who's pro crypto. The whole of the cabinet is pro crypto. They got rid of their cryptocurrency investigation unit at the Department of Justice. Why do you need that? You don't have a president that's gonna go after it. You have a president through various ways. I'm gonna outline again here. He's using cryptocurrency for the largest swindle in American presidential history. This is a new one. So I looked high and low in the securities and Exchange Commission filings, which you are required to do, whether it's the 8K or the 10Q or anything else. And you look to see what you're announced, who you are, what you've announced yourself to be, and what business you're in. Because people invest in a company when they sort of understand what your business model is. Nowhere in there was there any reflection that Donald Trump would take his company into the cryptocurrency business and that they would use your dollars to buy a bitcoin. Why don't you just use your own dollars to buy bitcoin? What do you need? What do you need Donald Trump to do it for you? Now, Trump turned over his $3 billion of. I think it's up to about $5 billion now of. Of shares in DJT and turned it over to a trust that's run by his son, Don Jr. You know, Fredo, number one. And so. But if you think he's not having regular conversations with Don Jr. I got a bridge to sell you. They're making this announcement that they're gonna. With a roadshow that they're about to try to raise $3 billion worth of your and my money in a secondary offering before a huge Las Vegas crypto conference that starts this week that's gonna be attended by. Wait till you see the interlocking, overlapping people here. Don Jr. The crypto czar, David Sacks for the Trump administration, and J.D. vance, because he's got nothing better to do. You know, he kisses babies and he does ribbon cutting at car washes, and he goes to Greenland. So now he's gonna go to this Las Vegas huge crypto conference. Because the. I mean, I'd be okay if the Trump administration was in favor of crypto deregulation to help the average American, but not to help the Trump family. The only reason he's getting into hard and doubling down and tripling down on crypto and cryptocurrency and other types of digital assets is because his administration is promoting policies that benefit that industry. So I looked high and low in all the securities filings. I don't see any mention that they're gonna get into the crypto business. So I think already they're using dollars and new dollars that are inappropriate and would normally be investigated by the securities and Exchange Commission. But who's gonna investigate it when it's all under the thumb and control of Donald Trump? Now, the new offering is not out yet, and when they got caught in the act of putting together the package and apparently increasing, they already know there's tremendous demand and more demand for crypto out Coming off that dinner just a couple of days ago in Virginia in which they raised Donald Trump earned another $3 million in his pocket by meeting with 250 or so of the leading holders of his meme coin, which he makes the market for. He doesn't care about the stock price or the meme coin price. He just cares about the volume, the buy and the sell because he makes a vig, a commission on the buy and the sell. So he shows up at this dinner, he's okay, everybody, thank you very much. Glad you're here. Dinner. Should have wore tuxedo. Okay, so he's got that going on. He's got the Vegas conference going on. We're between a rock and a hard place now. Four companies control over 80% of the U.S. meat industry. And China now controls the largest portion of US pork. And wait till you hear this. Over 80% of the antibiotics in the US are fed to animals. So what can we do about this? Let me tell you about a company that's coming up swinging on behalf of American family farms and your family's food security. Moink. The business is simple. Moink's meat comes from animals raised outdoors, where a pig is free to be a pig. Their farmers are given an honest day's pay for an honest day's work, and they deliver meat straight to your doorstep at prices you can actually afford. Support American family farms and join the moink movement today@moinkbox.com legalaf right now and get free wings for life. They're the best wings you'll ever taste for free, but for a limited time. Spelled M o I n k box.com legalif that's moinkbox.com legal af Now, Donald Trump has doubled down on meme so hard that he's got two meme coins that he's selling. He's the market maker for the meme coin, so he's getting the commission on all the volumes and the buy and the sell. He owns World Liberty Financial with his sons, apparently not his daughters, which is making a Lot of money in cryptocurrency and in stablecoin. In addition to that, he's got a stake through Don Jr. In an American based crypto mining company. Because you have to make these digital assets, you got to use huge server farms and data servers and use a tremendous amount of electricity and power and water. That's why it's an ecological disaster to do crypto and you do that, but you need to mine it. You need to have the software and the algorithms and the rigs in order to generate a bitcoin off a mathematical formula, an algorithm. That's how they're created. So he owns the mining, he owns the marketplace through World Liberty Finance. He owns Meme coins themselves, which are owned primarily by foreign investors because he's doing influence peddling. And now because his company and its business model is terrible for Truth Social, he's got nobody on the platform and we've got more people on the Midas Touch network than they have in their entirety of Truth Social. All the other things like, oh, we're going to do TV on Roku on demand. Yeah, that's not working. So he said, well, I better just take. Not my money, I'm going to take your money because I'm going to sell new stock in a secondary offering, meaning new buy and sell. Yeah. And he's going to expand the value of the company. The enterprise value, it's remarkable for Truth Social, that has no track record whatsoever, is up to about 6 billion. So is Donald Trump's personal net worth. It's the highest that Fortune or Forbes has ever rated Donald Trump, that's just since the new year, since he was elected president, he's doubled his or tripled his family fortune. Have you put it in comments? Have you look at your bank account. Is it triple what it was in January or is it half? Look at your retirement funds or assets, if you have any. Have they tripled or have they halved? Look at your Social Security benefits, Medicare, Medicaid, disability. Have they tripled or are you barely holding on? So it's with great disgust that I got to report these things. But I got to report these things. So this is the way that Donald Trump is perpetrating the greatest heist in plain sight in American history. But we got to keep talking about it. We got to keep talking about the $3 billion he's about to raise of other people's money in order to invest in cryptocurrency in order to feather his own nest. Now, when they reached out to the Trump media, Truth Social DJT for a comment. They just said Financial Times is a bunch of dumb writers, write dumb stuff. That's almost a paraphrase. That's almost a direct quote. This is how they talk to the media. This is how they talk down to you and me. Earlier today on Memorial Day, Donald Trump talked about how Americans are scum. I mean, he said Democrats, but I mean Democrats are Americans. He was, he was elected to represent the entirety of the American electorate, all 330 million plus people, not the people that, that he got him elected, not the maga. Maga, Right. So he called other Americans and patriots scum. That's his word, not mine. We got to make him pay for that. We got to pay him back for that. We're biting our tongue and biding our time now. But the midterms in 2026 are a different story. Remember the hundreds of millions up to over billions of dollars that Donald Trump is going to earn in his various different scams and schemes? And three card money related to meme coins related to bitcoin, related to cryptocurrency. The platform, the mining, the sales. There's a reason I got to announce this in between the big why is there all. Why is the Vice President of the United States going to the crypto conference? Why is our commerce Secretary, Why is his companies heavily invested and about to do a parallel, and have done a parallel announcement of trying to raise several billion dollars from the market for its own cryptocurrency purchase? What do they know that we don't? So what do they have that we don't have? Money, finances, cryptocurrency and access to it and access to the guy that's setting the policy. That's the problem. We'll continue to follow it. All right here. You're on the Midas Touch network. I got a couple of asks here. Hit the subscribe button for Midas Touch. Help them get to 5 million. Come over to Legal AF, the YouTube channel that I curate. I've got more than a dozen contributors there with me now to be one stop shopping for all things law and politics. Come on over. We just added in the last month on one hand, we've got our in house resident historians putting everything that Trump does, all his rogue and lawless actions in context, historical context. We've got Sidney Blumenthal, we've got Sean Wallentz and their guests in a playlist we call Court of History. We've also just added in the last 48 hours, Asha Regappa and Renato Mariotti and they have a show they call It's Complicated. Both former FBI agents. One is a is a prosecutor, former prosecutor and a commercial litigator or white collar litigator. And the other, Asha is on faculty or staff at Yale in national security issues. They come together with It's Complicated. Join us there. It's not complicated. It's easy. Legal AF hit the subscribe button and we got a beautiful substack that's just for you can nerd out on all things law and politics. We got the Supreme Court opinions there under SCOTUS af. We've got the law filings that you want to know about and read yourself under Filings af. We got my morning briefing under. Wait for it. Mornings af. You see the pattern here? The only thing missing is you. All free. Come on over and hit the subscribe button. Until my next reporting, I'm Michael Popeck. Can't get your fill of Legal af. Me neither. That's why we formed Legal AF Substack. Every time we mention something in a hot take, whether it's a court filing or a oral argument, come over to the substack. You'll find the court filing in the oral argument there, including a daily roundup that I do called Wait for It Morning af. What else? All the other contributors from Legal AOF are there as well. We got some new reporting, we got interviews, we got ad free versions of the podcast and hot takes where Legal AF on substack. Come over now to free subscribe.