Trump Family & Admin Corruption & Conflicts

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Burchett: One thing about Trump, it’s costing him money being in here. You have guys that come in here not worth anything and then they are worth millions doing those exact number of trades… I doubt Trump is individually making those trades. He’s got brokers that do that and manage his money just like a lot of them do up here.
 
nycfan said:


🎁 How Prediction Markets and Crypto Firms Steamrolled a Watchdog Agency
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“… Michael S. Selig, the 36-year-old current chairman, represented crypto firms and worked with prediction markets as a corporate lawyer. A Republican appointed by Mr. Trump, he is now the sole commissioner because the president left all the other board seats vacant.

That highly unusual arrangement gives Mr. Selig unilateral authority to file lawsuits and issue new rules as he polices two industries at the center of the president’s business empire.

“President Trump only acts in the best interests of the American public,” said Davis Ingle, a White House spokesman. “There are no conflicts of interest.”

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“… KuCoin presented another opportunity to send a message to the markets that it took its crypto oversight seriously.

Based in the Seychelles, KuCoin had just agreed to pay nearly $300 million after pleading guilty in a case brought by the Justice Department, which said it had flouted laws designed to catch criminals and prevent illicit transactions. KuCoin had also tentatively agreed to settle charges the C.F.T.C. brought against the firm for running an unregistered operation.

Ms. Pham did not have the authority to simply kill the case. She needed to enlist a majority of the commission. With two Democratic commissioners still serving, her prospects of that were dim.

As a solution, the staff attorneys did the next best thing. They began rewriting the proposed settlement, citing in court an executive order by Mr. Trump that called for a friendlier stance toward crypto.

While negotiations with the C.F.T.C. were still underway, KuCoin announced last year that it would start offering two new cryptocurrencies created by World Liberty Financial, the Trump family’s start-up crypto venture. The listing of those digital coins was a boost for World Liberty, giving it credibility and access to more customers.

The case dragged on, with the C.F.T.C. finally settling with KuCoin in March of this year. Its parent company was fined $500,000, a fraction of the multimillion dollar penalty the agency’s attorneys originally expected.

In a statement, KuCoin said its decision to offer World Liberty’s coins merely reflected “the ordinary course of its business” and had nothing to do with the charges it faced. A World Liberty spokesman said that many exchanges list its coins.…”
 
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