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From the very beginning, one thing has been abundantly clear about the Trump administration. They're open for business, but doesn't exactly seem like it's the kind of business that's ever really on the level. Trump's inaugural fund raised a record $239 million. And very shortly thereafter, we started seeing the people and groups that donated that money get their money's worth. I mean, one fossil fuel executive donated $4 million to. That same day he got nominated to be Trump's ambassador to the United Kingdom. Financial institutions like JP Morgan, Goldman Sachs, and Bank of America donated millions of dollars. And shortly thereafter, the Consumer Financial Protection Bureau ended a case against those same banks for not protecting consumers from fraud in the Zelle banking app. There you go. The SEC dropped an inquiry into the financial company Robinhood after it donated $2 million to Trump's inauguration. A very similar thing happened after a donation from the company Coinbase. Somehow, the Trump administration just happened to drop or pause cases against at least 17 of the corporations that funded his inauguration. Now, I should be clear that there's no direct evidence that any of these donations are linked to the actions that follow them. But of course, this is a pattern that has continued far beyond Trump's inauguration. I mean, right after Trump won the election, crypto billionaire Justin sun decided it would be a good idea to start investing tens of millions of dollars into the Trump family crypto business. At the time, sun was in hot water with the sec. The agency had charged him with fraud related to a large cryptocurrency manipulation scheme. But barely more than a month after Trump was sworn into office. After sun had reportedly invested $75 million into the Trump family cryptocurrency company, the SEC paused its case against him. How about that? We saw an incredibly similar thing happen with another case. Now, as much as all of this resembles a massive pay to play enterprise, the Trump administration, of course, denies that anyone has bought special treatment from the administration. But check this out. The New York Times looked at just the cryptocurrency cases the SEC has handled since Trump took office. Their analysis found that among the cases that were dismissed, the particulars may have differed, but many of them had one thing in common. Guess what it was. I think, you know, financial ties to Donald Trump. Now, even more concerning is that of the nine cases that have not been dismissed by the SEC since Trump took office, there was another parallel. All of the remaining cases are cases with no ties to Trump. More than almost anything else, Trump's second term has been defined by Trump using his powers as president to, to enrich himself. And he has done a bang up job of that. I guess we can hand him that. As of September 2025. 2025 was the most lucrative year of Trump's life. As of September, Forbes estimates that his net worth grew by an eye, popping $3 billion in just a year. $3 billion. So I think it's worth zooming out a bit and just thinking about how much Trump has managed to enrich himself and his friends as president and think about what can be done to stop it. I mean, we saw Trump's family business basically auction off access to the president by promising the top 220 purchasers of their cryptocurrency a seat at a gala with the president in Washington, D.C. we saw Trump turn the White House lawn into a Tesla sales law to help Elon Musk, who is, of course, Trump's biggest donor. Trump has demanded that the Department of Justice pay him a whopping $230 million of taxpayer money as a sort of financial reparation for having been investigated and prosecuted. And back In May, the UAE invested $2 billion worth of the Trump family's cryptocurrency into a company called Binance. And this is quite a story because two weeks later, the White House agreed to allow the UAE access to hundreds of thousands of the world's most advanced and scarce computer chips, despite national security concerns. And just a few months later, Trump pardoned the founder of Binance. Now, the Wall Street Journal reports that that pardon came after Binance asked the UAE to specifically use the Trump family's cryptocurrency to make the $2 billion investment in their company. And to be clear, by using the Trump family cryptocurrency for that investment, the Trump family cryptocurrency company will likely get returns of tens of millions of dollars a year. Now, I should note, of course, that the Trump administration, the Trump Family cryptocurrency company and Binance all say that there was nothing improper about any of these deals. And Binance denies that it directed the UAE to use Trump's family cryptocurrency. So I guess maybe it's all just another happy accident or coincidence here. I mean, maybe I should also note that Trump's family's cryptocurrency is co owned by the family of Trump's Middle east envoy, Steve Witkoff, who of course deals with the UAE in his official role. And speaking of Trump's cabinet, there's a lot there because the New York Times reports that Trump's Commerce Secretary, Howard Lutnick, has been pressuring American allies like South Korea and the UAE to invest in American AI data centers, while one of his former companies, which is now controlled by his adult sons, is, you guessed it, getting rich off the construction of American AI data centers. So maybe it's no surprise that Lutnick's 27 year old son, who now runs that company, said in October that quote, we are having our best year ever. I, I'm sure you are. Now again, I should say that Lutnick and his former companies say that there is nothing improper about any of these deals.
