Donald Trump’s crypto grift, World Liberty Financial, is not going well.
Other videos mentioned in this video:
Donald Trump announces new crypto project
Protos Media video
Other Resources
If you would like to subscribe to my free newsletter then please go here.
If you want the posts from this blog delivered to your inbox:
I also have a Discord server that you can join here.
Transcript:
00:00:00:00 - 00:00:19:22
Bennett Tomlin
I need to tell you all something a little bit silly. Trump has a new crypto scheme. I did a whole live stream where I reacted to, the spaces where they announced it. But would you believe me if I told you that it's not doing very well? If we go to the World Liberty Financial website
00:00:19:22 - 00:00:23:08
Bennett Tomlin
and we see.
00:00:23:10 - 00:00:47:22
Bennett Tomlin
And we take a quick little look. There are 20 billion tokens for sale. And they have sold 800 million at a cost of less than two pennies a token. They have so many tokens to sell. You want to know the worst part? We're not getting into the details of the grift today. Go watch the long spaces thing for that.
00:00:48:00 - 00:01:18:09
Bennett Tomlin
Go read some of the coverage. I'll link in the description. We just talked about how they've sold 800 million, and if we read down here, they gave 22.5 billion to Trump. But it's worse than that. None of Donald J. Trump, any of his family members, or any director of his or employee of the Trump Organization, DT MARKS DeFi LLC, or any of their respective affiliates is an officer, director, founder, or employee of World Liberty Financial.
00:01:18:11 - 00:01:48:04
Bennett Tomlin
Or it's affiliates. But would you believe me that besides not being an employee, director, officer, executive, anything else that it actually can get even worse? Because it can if we go to their gold paper and yes, they call it a gold paper, because why wouldn't they call it a gold paper? And we scroll down here. We learn to scroll down here.
00:01:48:06 - 00:02:14:15
Bennett Tomlin
We get a repeat of that disclaimer, namely that despite calling Donald Trump the chief crypto advocate, that doesn't mean he's an executive, nor are his kids who are. Oh well, not all his sons are all Web3 ambassadors, but we also learn that Donald J. Trump, in his silly little companies, gets 75% of the revenue. And what do they need to do to earn that?
00:02:14:17 - 00:02:41:12
Bennett Tomlin
They need to use reasonable efforts to request the owners and principals, including Donald Trump, to promote the token from time to time. So for promoting this token from time to time, Trump gets like 20 times more, 25 times as many tokens as they've sold, and he gets 75% of the revenue. And he's not even a director, officer or employee.
00:02:41:17 - 00:02:56:16
Bennett Tomlin
It is just so ridiculous that I had to show this to you all. You all needed to see how ridiculous this gift was. I know this isn't a full, detailed video like I normally do, but this was just so absurd. I had to show it to you as quick as I possibly could.
