By Jonathan O'Connell, Drew Harwell, Tony Romm, The Washington PostDonald Trump proposed crypto-friendly policies at a bitcoin conference in Nashville over the summer.
Trump stands to benefit financially if the enterprise is successful, with 75 percent of net revenue flowing to a company he owns, according to terms of the arrangement released this week. Both ventures open up new avenues that people - including those seeking to influence White House decision-making - could use to enrich Trump personally. Few rules would restrict investors seeking to win Trump’s favor, whether they be citizens of the United States or another nation.
“Just as people went to his hotels to curry influence with him, people who want to have some influence over him will probably find ways to invest in the social media company or this new crypto venture,” Pelissero said. A Trump Organization attorney declined to comment on how it would operate if Trump returns to the White House. The Trump campaign issued a statement from Karoline Leavitt, national press secretary, saying: “President Trump removed himself from his multi-billion-dollar real estate empire to run for office and forewent his government salary, becoming the first President to actually lose net worth while serving in the White House.
After the Jan. 6, 2021, attack on the U.S. Capitol, Trump was suspended from Facebook and Twitter, now known as X. But barely a year later, in October 2021, he announcedFormer contestants on Trump’s “The Apprentice” offered to run the operation and give Trump the bulk of the shares in exchange for his brand and limited participation. In a candidate financial disclosure this year, Trump reported $5.
While government ethics forms require sitting presidents to disclose any sale of stock, they do not require disclosure of details about those sales - including the identities of buyers. In the next four years, Washington is widely expected to continue to debate the enormously consequential question of how to regulate social media companies.
Cryptocurrency tokens can be used like money or held as longer-term investments. They are typically not issued or controlled by governments, and transactions can be completed without banks. There are now numerous different currencies, or tokens, as well as exchanges, which facilitate crypto transactions for a fee.
DT Marks DEFI is slated to receive 22.5 percent of World Liberty Financial’s tokens and 75 percent of revenues once expenses and reserves are met, according to the document. In exchange, Trump has agreed to make promotional appearances and allow