Investigating The President — Transcript

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1. 0:00There're only two rules on Coffeezilla.
2. 0:02Rule number one, no politicians. Rule
3. 0:04number two, no billionaires. But I'm
4. 0:06breaking both today because for two
5. 0:08years I've watched the president and his
6. 0:10family make billions of dollars from
7. 0:12every industry you can think of. Crypto,
8. 0:15meme coins, stable coins, fusion,
9. 0:17robotics, cologne, aviation, bitcoin,
10. 0:19stocks, socks, watches, watch dogs, and
11. 0:22so much more. It is an insane web of
12. 0:25corruption that makes Watergate look
13. 0:27like a drop in the bucket. Jimmy
14. 0:28Carter's farm seems like peanuts. And
15. 0:30yet, no one's been able to explain it in
16. 0:32one clear video. And that's because all
17. 0:33of this is built on hundreds of stories.
18. 0:36It's a massive amount of work. And when
19. 0:37you put it all in one place, you feel a
20. 0:39little crazy. But we did it because it's
21. 0:41the only way to truly understand what's
22. 0:43going on. I mean, how did we go from a
23. 0:45president who got elected on the idea of
24. 0:47ending government corruption, draining
25. 0:50the swamp?
26. 0:51>> Drain the swamp.
27. 0:52And that's what we're doing.
28. 0:54Now, when I said it, it sounded very
29. 0:56easy and it was going to happen real
30. 0:58fast.
31. 0:59I didn't know the swamp was this dirty
32. 1:01and this deep.
33. 1:02I didn't know about the swamp creatures
34. 1:04being as bad as they are. They're bad.
35. 1:07>> But now some of the president's biggest
36. 1:09supporters, the ones who voted for him,
37. 1:10campaigned for him, are calling him one
38. 1:12of the most corrupt presidents in
39. 1:14history.
40. 1:15>> This is the most corrupt presidency in
41. 1:17US history. [laughter] With the With the
42. 1:20money they are raking in with the NFTs
43. 1:23and the meme coin. I mean, it is so
44. 1:25blatant. It's right in front of our
45. 1:26eyes.
46. 1:27>> People who are close to President Trump,
47. 1:28members of his family, [music] have been
48. 1:30going around and essentially picking up
49. 1:31stacks of cash for a variety of business
50. 1:33deals all over the world.
51. 1:34>> A bunch of the coins that
52. 1:36groups that the presidents with and and
53. 1:39and all the kids put out, they were rug
54. 1:40pulls.
55. 1:41>> The president of the United States
56. 1:43scammed his supporters out of $600
57. 1:46million.
58. 1:47>> This government has done some that no
59. 1:49government has ever done before. And one
60. 1:51[music] of them is the crypto stuff. The
61. 1:52crypto stuff's nuts.
62. 1:53>> Oh, there's a brand new hotel going up
63. 1:55in Dubai or Abu Dhabi. That stuff kind
64. 1:57of worries me. [music] You know, it's
65. 1:59it's
66. 1:59>> It seems
67. 1:59>> corruption, yeah.
68. 2:00>> But I have to be honest, I didn't expect
69. 2:02the corruption [music]
70. 2:03to be quite as
71. 2:05you know, widespread as it's been and
72. 2:07like the self-dealing and the lining of
73. 2:10his and his family's pockets. Like
74. 2:11that's been a little shocking. [music]
75. 2:13>> Yeah, the change is insane. How is it
76. 2:15possible for a guy who campaigned and
77. 2:17won on this?
78. 2:18>> It's a political class that enriched
79. 2:20itself while draining the economic life
80. 2:23and soul from our country. Look at
81. 2:25what's happened and now you see it and
82. 2:27you see it better than ever before.
83. 2:29>> And yeah, he's right. We do see it now
84. 2:31better than ever before. Public opinion
85. 2:32polls are now at their highest level in
86. 2:3420 years on government corruption. And
87. 2:37that's what we're finally going to be
88. 2:38talking about. We want to explore the
89. 2:40swamp today. We're going to look at the
90. 2:42swamp creatures, the Gollum, the ghouls,
91. 2:44the fools, the political class that's
92. 2:46been enriching itself at our expense,
93. 2:48and they're already upset about it. Days
94. 2:49before publishing, I was threatened
95. 2:51about this story by a lawyer. So please
96. 2:53support us on Patreon if you can because
97. 2:55this is a very legally risky video to
98. 2:56make. Basically one YouTuber versus the
99. 2:59United States government. Now I'm not
100. 3:01crazy. I will be reading a lot of
101. 3:03denials today including from World
102. 3:04Liberty Financial, but you should just
103. 3:06generally assume that every single
104. 3:07person in this video denies everything
105. 3:09in it and nothing is an accusation of
106. 3:11criminal behavior. I will also say I
107. 3:13reached out to Don Jr., Eric Trump,
108. 3:15Melania Trump, and even Donald Trump
109. 3:16himself. None replied and that's the
110. 3:18best I can do.
111. 3:19Either way,
112. 3:20I never thought I'd say this, but it's
113. 3:22time to investigate the president.
114. 3:46This story started for me two years ago.
115. 3:49Two days before [music] Trump took
116. 3:50office, I remember laying in the void
117. 3:52and doom scrolling mindlessly before bed
118. 3:55when I suddenly read the most
119. 3:56unbelievable news.
120. 3:58Trump just launched a meme coin. Uh
121. 4:00welcome back to the void. This is not
122. 4:02how I wanted to start my 2025. Let me
123. 4:04tell you that right now. My new Donald
124. 4:06Trump official meme is here. It's time
125. 4:08to celebrate everything we stand for,
126. 4:09winning. Join my very special Trump
127. 4:11community. Get your Trump now. Go to
128. 4:14gettrumpmemes.com.
129. 4:16When you go there,
130. 4:18you join the Trump meme, which is buying
131. 4:21something and [music] hoping it goes up
132. 4:23in value. We're two days away. Okay,
133. 4:26understand. We are two days away from an
134. 4:30inauguration. I don't even know I'm
135. 4:32speechless actually. I don't know what
136. 4:34to say.
137. 4:35It's historic [music] in its stupidity.
138. 4:37It's historic in its grift.
139. 4:40The level of scam here to use
140. 4:44the days before your presidency, your
141. 4:46inauguration,
142. 4:48to use that as a hype project for the
143. 4:51meme.
144. 4:52>> Frankly, I was in disbelief seeing this.
145. 4:54But before I could collect myself,
146. 4:56suddenly Melania launches a meme coin.
147. 4:58Then SEC [music] cases are getting
148. 4:59dropped left and right. I realized we
149. 5:02were going to need to track what was
150. 5:03happening because things were moving way
151. 5:05too fast, almost like it was on purpose,
152. 5:07almost like it was part of a plan.
153. 5:10>> In the media, can only because they're
154. 5:12dumb and they're [music] lazy, they can
155. 5:14only focus on one thing at a time. All
156. 5:16we have to do is flood the zone. Every
157. 5:18day we hit them with three things,
158. 5:20they'll bite on one and we'll get all of
159. 5:22our stuff done. Bang, bang, [music]
160. 5:23bang. These guys will never will never
161. 5:26be able to recover, but we got to start
162. 5:28with muzzle velocity. So it's got to
163. 5:29start and it's got to hammer.
164. 5:31Muzzle velocity.
165. 5:33>> The man you just heard from is named
166. 5:34Steve Bannon. He's a political
167. 5:36operative, media strategist, and his
168. 5:38idea of flooding the zone has never been
169. 5:41more effective than in the era of the
170. 5:42eternal feed. Because no story lasts
171. 5:45[music] more than 10 seconds on the
172. 5:46internet, the modern media strategy
173. 5:48isn't to put out a fire, it's to go
174. 5:50start another one. Anyone noticed by the
175. 5:52way, we were all talking about that guy
176. 5:54until we went to war with Iran? You
177. 5:56know, weird how it works. It's
178. 5:57incredibly effective. And I knew we'd be
179. 5:59facing the same problem here. People
180. 6:01were mad about the meme coin story for a
181. 6:03few weeks. And then, people just kind of
182. 6:06stopped paying attention.
183. 6:07But I didn't. I wanted to track and
184. 6:09aggregate everything, but the project
185. 6:10was way too big to do alone. I needed
186. 6:12help.
187. 6:13>> My name is Molly White. [music] I am a
188. 6:14cryptocurrency researcher and writer.
189. 6:16>> Molly is the person who helped map
190. 6:18everything you're about to see. When the
191. 6:19president raked in $600 million with
192. 6:21Trump Coin, she tracked the shell
193. 6:23companies. When Melania [music] reported
194. 6:24$6 million on her coin and NFTs, Molly
195. 6:27tracked those shell companies. Although,
196. 6:29I should be fair to the sitting
197. 6:31president.
198. 6:32The fact that he made $600 million may
199. 6:34look bad. It may look a little corrupt,
200. 6:36but let's give him a chance to explain
201. 6:38himself.
202. 6:38>> [music]
203. 6:39>> There was a a large sum of money made in
204. 6:41crypto. Did you know that your family
205. 6:44business was [music] was going to engage
206. 6:45in crypto? Did did you have anything
207. 6:47>> Well, I was here before. I was there
208. 6:49before
209. 6:50I was in office, but
210. 6:52the way I view crypto is a little
211. 6:54differently. We have to be at the top,
212. 6:56otherwise China is going to take it
213. 6:57over.
214. 6:58>> Ah, I see. So, our president launched a
215. 7:01meme coin two days before entering
216. 7:02office
217. 7:03so China wouldn't do it first. And
218. 7:05that's why it's okay. Now, we should ask
219. 7:07Molly, how's that been working for
220. 7:09regular Americans?
221. 7:10>> Melania has been down the worst at
222. 7:12around 99% of its value lost, but
223. 7:15Trump's is not far behind with around
224. 7:1795% of its value lost. So, people who
225. 7:20bought into these tokens, unless they
226. 7:22were incredibly early and able to sell
227. 7:25very quickly, [music]
228. 7:26have almost exclusively lost money.
229. 7:29>> Yeah, it's been a disaster for most of
230. 7:31the president's holders. Although, to be
231. 7:33fair, some of them probably weren't
232. 7:34doing it for the money. They wanted some
233. 7:36of the benefits. Like, for example, if
234. 7:37you're one of the top holders, you got a
235. 7:39dinner with the president, which again,
236. 7:41the White House denies is corrupt.
237. 7:43>> Why is the president planning to attend
238. 7:44the dinner for the top investors in his
239. 7:46coin?
240. 7:46>> Look, the president is abiding by all
241. 7:49conflict of interest laws. The president
242. 7:50has been incredibly transparent with his
243. 7:52own personal financial obligations
244. 7:54throughout the years. The president is a
245. 7:55successful businessman, and I think
246. 7:57frankly it's one of the many reasons
247. 7:58that people reelected him back to this
248. 8:00[music] office.
249. 8:01>> Yeah, we elected the president so he
250. 8:03could hold private dinner parties with
251. 8:04meme coin holders. But that's literally
252. 8:06just one of the massive companies we're
253. 8:08to be talking about. It's not even the
254. 8:09biggest because so far we haven't
255. 8:11discussed World Liberty Financial, one
256. 8:13of the most important companies created
257. 8:15by the family.
258. 8:16>> World Liberty Financial is a
259. 8:17cryptocurrency project that was created
260. 8:19by the Trump family shortly before the
261. 8:22election [music]
262. 8:23in 2024. It's still not entirely clear
263. 8:26what they're going to launch, but there
264. 8:28is supposed to be a decentralized
265. 8:29finance application that people can use
266. 8:31for cryptocurrency trading, borrowing,
267. 8:33lending, that kind of thing. So far all
268. 8:36they've done is launch their own WLFI
269. 8:38token, which is a governance [music]
270. 8:40token that people can buy as well as a
271. 8:42stable coin called USD 1. But the goal
272. 8:46is fairly lofty. There's just no
273. 8:48application that has yet to launch.
274. 8:50>> Yeah, World Liberty Financial was a
275. 8:52confusing project. The Trump family was
276. 8:54attached, but there were sort of no
277. 8:55product at first. The president was the
278. 8:57chief crypto advocate, but the family
279. 8:59had no experience in decentralized
280. 9:01finance. And then you have the other
281. 9:02parts of the team, some of whom came off
282. 9:04really sleazy, like this guy, Chase
283. 9:06Hero, who offered up some free advice on
284. 9:08selling worthless products.
285. 9:09>> You can literally sell in a can wrapped
286. 9:12in
287. 9:13covered in human skin for a billion
288. 9:16dollars if the story's right because
289. 9:18people will buy it. And that is what is
290. 9:20going on in the crypto space. And like I
291. 9:21said in my other video, I'm not going to
292. 9:23question the the right and wrong of all
293. 9:25that. All I'm saying is as a human being
294. 9:27you have the ability to make a
295. 9:29ton of money right now.
296. 9:31>> Yeah, I'm just going to say this guy is
297. 9:32the textbook shady car salesman. Of
298. 9:34course his name is Chase and you know,
299. 9:37it doesn't really come off like somebody
300. 9:39who should be helping run the
301. 9:40president's coin as much as selling you
302. 9:43a used Acura. But he's not wrong about
303. 9:45narratives, to be fair. In October 2024
304. 9:47when some people thought Trump might
305. 9:49lose the election, sales were bad
306. 9:51because the narrative just kind of
307. 9:52wasn't [music] right. But as the
308. 9:54election approached and Trump won, sales
309. 9:56of World Liberty Financial exploded and
310. 9:58sold out $550 million worth.
311. 10:01Backing the crypto coin of the president
312. 10:03is just a way better story than backing
313. 10:05a random company with no product. And
314. 10:07the largest public investor at the time
315. 10:09can give insight into motivations.
316. 10:11Justin Sun invested $75 million into
317. 10:13World Liberty Financial. Sun was at the
318. 10:16time charged with fraud by the SEC. Now
319. 10:19what do you do when you're charged with
320. 10:20fraud? Well, maybe you become the
321. 10:22advisor to the president's new crypto
322. 10:24company, World Liberty Financial. And
323. 10:26then after Trump takes office, the SEC
324. 10:28then dismisses [music] their case
325. 10:30against Sun and settled it with his
326. 10:32company. Now to be fair, everyone denies
327. 10:34there's any corruption there and
328. 10:36eventually Justin Sun himself would
329. 10:38[music] break up with the World Liberty
330. 10:40team and accuse them in opposed of
331. 10:41treating the crypto community as a
332. 10:43personal ATM and of an absurd governance
333. 10:45scam. World Liberty Financial, of
334. 10:47course, I should say denies that.
335. 10:49Lawsuits have been flying back and forth
336. 10:50there and I'm taking zero sides on that.
337. 10:52They both accuse each other of a bunch
338. 10:54of stuff. I'll link some documents
339. 10:56below. But basically Sun was the initial
340. 10:58champion of World Liberty, the largest
341. 11:00public investor. Although behind the
342. 11:02scenes, there actually turned out to be
343. 11:03a bigger one. Sheikh Tahnoon bin Zayed,
344. 11:06sometimes described as the spice sheikh
345. 11:08from the United Arab Emirates,
346. 11:09unbeknownst to the world, he was paying
347. 11:11$500 million for a 49% ownership stake
348. 11:15in World Liberty only 4 days before
349. 11:17Trump was inaugurated. But the amount of
350. 11:19money really wasn't the surprising part
351. 11:21of the story according to the Wall
352. 11:22Street Journal.
353. 11:23>> My name is Sam Kessler. I work at the
354. 11:25Wall Street Journal. So just last week,
355. 11:27my colleagues and I published a big
356. 11:29investigation into Trump's World Liberty
357. 11:31Financial. Basically, we uncovered that
358. 11:34just 4 days before the inauguration, the
359. 11:37president's family signed a deal with a
360. 11:39top UAE royal Sheikh Tahnoon who is the
361. 11:43national security advisor to the United
362. 11:44Arab Emirates, [music] also brother to
363. 11:46the president of the UAE. The most
364. 11:48stunning thing to me about this entire
365. 11:50[music] reporting project is that it was
366. 11:53secret. A $500 million deal was signed
367. 11:56completely secretly and people would not
368. 11:58know about it if not for reporting.
369. 12:02>> Yeah, it was all kept secret. Everything
370. 12:04else so far we've talked about and a lot
371. 12:06of what we're going to talk about is
372. 12:07kind of public. They kind of put it out
373. 12:09there. But the fact that our incoming
374. 12:11president had a major business that he
375. 12:13had a stake in selling 49% in secret to
376. 12:16a foreign buyer was kept totally secret
377. 12:19from the American public. Even more
378. 12:20strange, the team went out of their way
379. 12:23to keep this secret up. Like when
380. 12:25talking in public, everyone was sort of
381. 12:28pretending that companies that were
382. 12:29related together were not related at
383. 12:31all. Like take this. There was a
384. 12:33business deal between MGX and Binance.
385. 12:36You don't need to know anything about
386. 12:37those companies. What matters here is
387. 12:38that World Liberty announced that one of
388. 12:40their products, USD 1, which eventually
389. 12:43came out, it's a digital dollar, it was
390. 12:45going to be used for the deal. And it's
391. 12:47just sort of represented like, oh, look
392. 12:50at these companies who just happened to
393. 12:52decide that our company is so useful and
394. 12:55valuable.
395. 12:56>> We are excited to announce today that
396. 12:59USD 1 has been selected as the official
397. 13:02stable coin to close MGX's $2 billion
398. 13:05investment in Binance.
399. 13:07>> Wow.
400. 13:08>> We we thank MGX and Binance for their
401. 13:10trust in us. And I think it's only the
402. 13:13beginning.
403. 13:13>> [music]
404. 13:14>> Yeah. At the time of this announcement,
405. 13:16USD 1 is basically brand new. Everyone
406. 13:18was surprised that someone would trust
407. 13:20that company with $2 billion.
408. 13:22But little did we know the chairman of
409. 13:25MGX, who is doing this deal,
410. 13:27was the Spysheik. And the Wall Street
411. 13:29Journal associates him indirectly with
412. 13:30his 49% stake purchased in World Liberty
413. 13:33Financial, which controls USD 1. So
414. 13:35yeah, that's a massive omission. It's
415. 13:37like if I didn't tell you the $10
416. 13:38million studio was actually paid with
417. 13:40some coffee coin that I made up. You'd
418. 13:43rightfully think, hmm, maybe this studio
419. 13:46really isn't worth what we think it is.
420. 13:48Maybe he's using visual tricks to gain
421. 13:50credibility. Now, I actually asked the
422. 13:52World Liberty Financial about this
423. 13:53omission. They claim it's quote unfair
424. 13:55to hold a private company to arbitrary
425. 13:57standards when raising money and that
426. 13:59MGX chose USD 1 for the Binance deal on
427. 14:02its merits and not, I suppose, because
428. 14:05it benefits World Liberty Financial. But
429. 14:06since no one knew this was happening at
430. 14:07the time, it catapulted USD 1 from
431. 14:09obscurity to being an absolutely huge
432. 14:11stable coin. And obviously, that helps
433. 14:13the family.
434. 14:14>> That deeply benefits
435. 14:16>> the Trump family [music] because when
436. 14:17they hold $2 billion of reserves for
437. 14:21this stable coin, they're investing that
438. 14:23money into money market funds and
439. 14:26similar [music] entities and reaping the
440. 14:29interest from that investment. [music]
441. 14:32And so the World Liberty Financial
442. 14:34Company is making hundreds and hundreds
443. 14:36of millions of dollars potentially off
444. 14:38of this. Trump stands to benefit
445. 14:40hundreds of millions of dollars if they
446. 14:42hold that investment [music] through the
447. 14:44end of his presidency.
448. 14:45>> So just to be clear, the president
449. 14:46massively benefits if that $2 billion
450. 14:48investment stays in this USD [music] one
451. 14:51currency. But of course, how does
452. 14:53everyone else in this deal benefit?
453. 14:55>> When it comes to the UAE, they were able
454. 14:58to secure these enormous [music]
455. 15:00AI chips deals that they had long
456. 15:02wanted, but the US had refused to allow
457. 15:06these deals that would provide these
458. 15:07highly sensitive AI chips [music] to the
459. 15:10UAE. And there were, you know, fears
460. 15:12that they could fall into the wrong
461. 15:13hands or [music] that they could be used
462. 15:15for advanced military capabilities. And
463. 15:18shortly after these [music] deals began
464. 15:21happening between the Trump
465. 15:23cryptocurrency projects and the UAE,
466. 15:25this chips deal was approved. It really
467. 15:28does look from the outside like there is
468. 15:31a benefit flowing to these companies.
469. 15:32It's just not a business benefit.
470. 15:34[music]
471. 15:34That really raises questions about these
472. 15:36foreign investments in the Trump family
473. 15:38[music] cryptocurrency projects.
474. 15:40>> Yeah, it seems like it pays to be
475. 15:41involved with the first family. Although
476. 15:44I must tell you, World Liberty denies
477. 15:45any suggestion of political quid pro
478. 15:47quo. They say it's completely false and
479. 15:50say they have no influence over policy
480. 15:52decisions. Meanwhile, MGX was also
481. 15:54announced as an investor into Project
482. 15:56Stargate, this big AI data center
483. 15:59project.
484. 16:00>> Our partners of course SoftBank, OpenAI,
485. 16:03Oracle
486. 16:05and
487. 16:06additionally investing partner with MGX.
488. 16:09>> And the president said he would
489. 16:10financially assist the UAE during the
490. 16:13Iran crisis because they've been so good
491. 16:15to us.
492. 16:16>> Is there some type of swap possible?
493. 16:19To currency swap with the UAE to help if
494. 16:22they need it? And do you think there
495. 16:24would be backlash because it's such a
496. 16:25wealth or perceived to be such a wealthy
497. 16:27country? Is that under consideration?
498. 16:30>> It is, but it's been a good country.
499. 16:32It's been a good ally of ours.
500. 16:34And you know, these are unusual times.
501. 16:36>> Yeah, it's hard to know who he's talking
502. 16:38about there being good to us. And it's
503. 16:40not just the UAE. Consider Binance. They
504. 16:42just had an SEC lawsuit against them. It
505. 16:45was dropped. Later, Binance's founder
506. 16:47himself was pardoned by Trump. Remember,
507. 16:50Binance are the people who are doing
508. 16:52this $2 billion stablecoin deal. Like
509. 16:54always, there's a denial that anything
510. 16:56corrupt happened. Trump firmly denies
511. 16:58knowing Changpeng Zhao. In fact, he said
512. 17:00he has no idea who he is. The person he
513. 17:03just pardoned from a crime.
514. 17:04>> Why did you pardon him?
515. 17:06>> Okay, are you ready? I don't know who he
516. 17:07is. I don't know him. I don't believe
517. 17:09I've ever met him.
518. 17:10>> Yeah, he says he doesn't know the guy
519. 17:11despite his family appearing to benefit
520. 17:13from Binance's $2 billion investment.
521. 17:16Meanwhile, Changpeng Zhao will say he
522. 17:17did nothing to get the pardon, but
523. 17:19admits that Binance kind of needed it to
524. 17:22get back to America.
525. 17:23>> The question that some people can kind
526. 17:25of jump to is they think what must CZ
527. 17:27have done to try to get it? Do you want
528. 17:29to put that to bed?
529. 17:30>> I didn't do much. I didn't do anything.
530. 17:32And then but I think look, without the
531. 17:34pardon, it's quite hard for Binance to
532. 17:36enter the US in a proper way. I think if
533. 17:38you
534. 17:39>> Because you're the UBO.
535. 17:40>> I'm the UBO. Yeah. So and Binance yeah,
536. 17:42I'm the UBO of Binance and Binance US,
537. 17:44right? Without a pardon, Binance Binance
538. 17:47is severely limited to do stuff in the
539. 17:49US.
540. 17:50>> Right.
541. 17:50>> If US wants to become the capital of
542. 17:52crypto in the world, you cannot have not
543. 17:54you cannot not have the largest player.
544. 17:56>> Yeah, isn't that interesting? Binance
545. 17:58happens to take their big investment in
546. 18:00USD one. It happens to benefit the First
547. 18:02family. CZ happens to get a pardon. Just
548. 18:05a couple of coincidences. Meanwhile,
549. 18:07Binance keeps helping behind the scenes
550. 18:10with USD one's adoption.
551. 18:11>> Binance has been a major player in these
552. 18:13[music] deals with the Trump family as
553. 18:15well. They were one of the first
554. 18:17cryptocurrency exchanges to list USD one
555. 18:20for [music] trading, and they have
556. 18:23offered these huge promotional deals to
557. 18:25their customers where they're
558. 18:26effectively paying [music] customers to
559. 18:28hold USD one by offering 20% annual
560. 18:33yield on those holdings, which is just
561. 18:35unheard [music] of.
562. 18:36>> Yeah, huge yields and the Wall Street
563. 18:38Journal itself charted USD one coins
564. 18:40adoption to see how important Binance
565. 18:43has been for them. Each major jump in
566. 18:45usage was basically linked back to
567. 18:47Binance. Although I should tell you
568. 18:49World Liberty denies this is suspicious
569. 18:51and claim it's all part of standard
570. 18:52industry practice for marketing a stable
571. 18:54coin, but let's follow the money. All of
572. 18:56these revenues are flowing back to World
573. 18:58Liberty Financial, which in turn helps
574. 19:00pay the president [music] and his
575. 19:01family. And then World Liberty then gets
576. 19:04to brag that they're making $159 million
577. 19:07annually with USD one, which they say is
578. 19:09quiet, compounding, accelerating. Now
579. 19:12remember, since we're talking about
580. 19:14crypto and stable coins, this is
581. 19:15something Trump is deeply involved in
582. 19:17helping pass legislation for at the same
583. 19:20time all of this is going on with
584. 19:21something called the Genius and Clarity
585. 19:23Act. This matters because this
586. 19:25legislation directly affects the
587. 19:27businesses the Trump family is engaging
588. 19:29in. For example, his son boasts on
589. 19:32Twitter that USD one is now the second
590. 19:34largest genius compliant stable coin,
591. 19:36but it hits different when you realize
592. 19:38the son's bragging about being in
593. 19:40compliance with new laws his dad is
594. 19:42pushing to pass as president.
595. 19:45[laughter]
596. 19:46It's crazy.
597. 19:47>> Trump has been a major figure in pushing
598. 19:49for the Genius Act, both in terms of
599. 19:51shaping the legislation, but also making
600. 19:53statements in support of the
601. 19:54legislation. When [music] the
602. 19:56legislation was making its way through
603. 19:58Congress, there were all these reports
604. 20:00of nighttime calls from Donald Trump to
605. 20:01[music] essentially solicit votes for
606. 20:03the legislation. And this is all
607. 20:05happening while his family is benefiting
608. 20:08from and profiting from a stable coin of
609. 20:10their own. The USD one stable coin has
610. 20:12essentially gotten a leg up because
611. 20:14[music] they are in with the Trump
612. 20:16family as this legislation is being
613. 20:18drafted [music]
614. 20:19and can now market themselves as the
615. 20:22most legitimate,
616. 20:23uh, the most regulated, largely because
617. 20:25that regulation was written around the
618. 20:27time USD 1 was even created.
619. 20:29>> Meanwhile, World Liberty is applying for
620. 20:31bank charters, getting provisionally
621. 20:33approved. And just you have to think
622. 20:35about how weird it is. Like imagine
623. 20:37you're a regulator overseeing a company,
624. 20:40and that company benefits the president,
625. 20:42and the president helps appoint the
626. 20:44regulators, specifically the OCC, who's
627. 20:47regulating the bank. I mean, it's not
628. 20:49clear how this is really supposed to
629. 20:51work in practice. And I must tell you,
630. 20:53World Liberty Financial denies a special
631. 20:55treatment from the OCC. They say the
632. 20:57approval was conducted by career
633. 20:58staffers, but I'll be honest, I don't
634. 21:01think we've ever seen anything quite
635. 21:02like this before. And this is true
636. 21:04across many different government
637. 21:05regulators. For example, when World
638. 21:07Liberty went to the stock markets, who's
639. 21:09supposed to regulate that? The SEC,
640. 21:12right? Who of course has major roles
641. 21:13that the president has a hand in
642. 21:14appointing. So when World Liberty
643. 21:16announced a $1.5 billion deal with a
644. 21:18company called Alt 5 Sigma, which
645. 21:20reportedly made $500 million to a Trump
646. 21:23family-owned entity and $90 million to a
647. 21:25Witkoff family, who's going to say
648. 21:27something if there's something wrong,
649. 21:29right? As Molly notes, there's just a
650. 21:31bit of a conflict of interest here.
651. 21:33>> Alt 5 Sigma is run by the same people
652. 21:35who run World Liberty Financial. And so
653. 21:37there is basically this dual incentive
654. 21:40to pump the price of WLFI, preferably
655. 21:43with retail money.
656. 21:44>> Yeah, so, uh, the Trump family seems to
657. 21:46benefit on both sides while they rake in
658. 21:49millions of dollars. Meanwhile, the
659. 21:51stock price of Alt 5 Sigma, the actual
660. 21:53company that's investing money into the
661. 21:55World Liberty project, it got crushed,
662. 21:58down about 94% in one year. In fact,
663. 22:01it's down so bad that the branding has
664. 22:03now changed from crypto to AI. Alt 5 is
665. 22:06now known as the AI Financial
666. 22:07Corporation. And by the way, speaking of
667. 22:09the Witkoffs, we should explain that
668. 22:11they are involved in some of these deals
669. 22:14as well, but they are much more than
670. 22:15co-founders of World Liberty Financial.
671. 22:18Zach Witkoff's father, Steve Witkoff, is
672. 22:21the United States special envoy to the
673. 22:23Middle East. [music] And given their
674. 22:25largest shareholder of World Liberty
675. 22:27Financial is from the Middle East, you
676. 22:28might wonder,
677. 22:30is that a possible conflict of
678. 22:32interests? Right? And the answer appears
679. 22:33to be maybe it was because World Liberty
680. 22:35Financial now says Steve Witkoff has
681. 22:37divested himself of that stake, which
682. 22:40seems to be to avoid precisely these
683. 22:42questions. But not everyone has been
684. 22:44required to divest. Take Jared Kushner,
685. 22:46who appears alongside Steve in this
686. 22:47photo. He's son-in-law to the president
687. 22:49and has been called the peace envoy by
688. 22:52Trump. He's also been part of a lot of
689. 22:55these negotiations, often seen alongside
690. 22:57Steve Witkoff in an unofficial capacity.
691. 23:00But he himself has a multi-billion
692. 23:02dollar fund called Affinity, which
693. 23:05reportedly has been trying to raise $5
694. 23:07billion according to The New York Times
695. 23:09from a lot of these Middle Eastern
696. 23:12countries. For example, who's already
697. 23:13one of his biggest investors? It's Saudi
698. 23:15Arabia, their public investment fund,
699. 23:17who put in $2 billion into his company.
700. 23:20Other Middle Eastern sovereign funds are
701. 23:22expected to be asked as well.
702. 23:24>> And this is all happening as Kushner
703. 23:26holds this unofficial role as an envoy
704. 23:28[music] essentially for the Trump
705. 23:30administration, but because he does not
706. 23:32hold any official title, he is not
707. 23:35subject to divestment requirements,
708. 23:37ethics oversight. He does not have to
709. 23:39file financial disclosures, [music] and
710. 23:41yet he is operating in this
711. 23:43semi-official capacity for the Trump
712. 23:45administration doing deals on behalf of
713. 23:48the government effectively. He is
714. 23:49traveling with Steve Witkoff to the
715. 23:51Middle East, going to these [music]
716. 23:52closed door meetings where we don't
717. 23:54necessarily know if he is arguing on
718. 23:57behalf of the US government or on behalf
719. 23:59of his own financial interests, which
720. 24:00are substantial and largely backed by
721. 24:02the Persian Gulf.
722. 24:04>> It's actually insane how much money from
723. 24:05the Middle East has been flowing into
724. 24:07America with such little oversight. And
725. 24:09it's not going into your average Joe's
726. 24:10pocket. It's mostly people around the
727. 24:13Trump family. I mean, just to be clear,
728. 24:15gifts have literally been flying around.
729. 24:17>> My name is Isaac Saul. I'm a politics
730. 24:19reporter and the founder of Tangle News,
731. 24:21which is a non-partisan, [music]
732. 24:23independent political news outlet. One
733. 24:25of the big stories that we got in the
734. 24:27early months of Trump's second term was
735. 24:30this airplane that [music] Qatar wanted
736. 24:33to gift him, which was supposed to be a
737. 24:36plane that Trump was [music] going to
738. 24:38take and put in his presidential library
739. 24:40after he was president. Maybe he'd get
740. 24:42to use it for a little bit as a private
741. 24:44citizen. It was this $400 million plane
742. 24:48[music] that Qatar said that he could
743. 24:50use as Air Force One. At the same time
744. 24:52that this was going on, this $400
745. 24:55million luxury airplane,
746. 24:57Qatar was also negotiating a $1.96
747. 25:00billion
748. 25:01arms deal [music] with the United
749. 25:03States,
750. 25:04with which they got pretty favorable
751. 25:06terms based on a lot of independent
752. 25:07reporting [music] who kind of monitors
753. 25:09this sort of thing.
754. 25:10>> Do we still think this is all
755. 25:11coincidence? We're selling almost $2
756. 25:13billion in arms to Qatar around the time
757. 25:15they give us a nice little $400 million
758. 25:17gift. Then the president's family
759. 25:19strikes a deal for a luxury golf course
760. 25:21in Qatar, all part of a large project
761. 25:23worth about $5.5 billion.
762. 25:26Then just this year the US State
763. 25:28Department approved two more possible
764. 25:30military sales to Qatar for $5 billion
765. 25:33for advanced precision kill systems and
766. 25:35Patriot missile replenishment. Maybe
767. 25:38it's all coincidence. It truly could be.
768. 25:40But once again, how can we be sure our
769. 25:42government is working for our benefit
770. 25:44when there are so many conflicts of
771. 25:45interest? But so far we've just
772. 25:46scratched the surface really. We haven't
773. 25:48even talked about the NFT business,
774. 25:50[music] the watches, the shoes, the
775. 25:52Trump Bible, the Trump fragrances, and
776. 25:54last but not least, the T1 mobile phone
777. 25:57which I ordered and then got doxxed for,
778. 25:59which was said to be made in America
779. 26:00until they changed the website. Now I'm
780. 26:02not going to spend too much time on
781. 26:03things like golden shoes because they're
782. 26:05obviously [music] stupid. What I care
783. 26:06most about are industries that are being
784. 26:08regulated which the Trump family is
785. 26:10getting involved in because to be
786. 26:11honest,
787. 26:12if the president wants to sell shoes,
788. 26:14it's grimy, but the government doesn't
789. 26:16have the power to [music] sway the value
790. 26:18of a shoe company that much. But it's
791. 26:20very different in industries like
792. 26:22crypto, prediction markets, [music] AI,
793. 26:24energy companies where government
794. 26:25regulation is hugely important to
795. 26:28success. [music] Take Bitcoin for
796. 26:29example. When Trump took office, the
797. 26:31price exploded in part because of
798. 26:34regulatory anticipation. Trump called
799. 26:36himself the crypto president. [music] At
800. 26:38the same time, Eric Trump became the
801. 26:40strategic board advisor to a Japanese
802. 26:43Bitcoin company called MetaPlanet.
803. 26:45Ironically, he's also a part of American
804. 26:47Bitcoin with Don Jr. This company, by
805. 26:49the way, is 80% owned by Hut 8, [music]
806. 26:52which itself is an energy infrastructure
807. 26:54company. And Molly points out all of
808. 26:56this, the hiring of, you know, the Trump
809. 26:58boys is an odd choice unless you
810. 27:01consider who their dad is.
811. 27:02>> It's like five treasury [music]
812. 27:03companies or something like that that
813. 27:05the Trump family is somehow linked to.
814. 27:07It's kind of insane.
815. 27:08>> Yeah.
816. 27:09>> Like how many Bitcoin treasury companies
817. 27:11do you really need? Eric and Donald
818. 27:13Trump Jr. are part owners of a company
819. 27:15called American Bitcoin, which is
820. 27:18[music] both a treasury company and, at
821. 27:20least supposedly, a Bitcoin mining firm.
822. 27:23Although the primary goal of the mining
823. 27:25seems to be pretty much to accumulate
824. 27:28and hold Bitcoin. And this was created
825. 27:30through a very unusual deal where, of
826. 27:33course, there was a merger involved so
827. 27:35that they could be public. [music]
828. 27:36But a cryptocurrency mining company
829. 27:38called Hut 8 essentially gave their
830. 27:40mining equipment [music] to American
831. 27:43Bitcoin in exchange for an 80% share in
832. 27:47the company, which is a very strange
833. 27:49deal. I mean, why would you give away
834. 27:51100% of your Bitcoin mining firm in
835. 27:55exchange [music] for an 80% stake in the
836. 27:58Bitcoin mining firm, right? Especially
837. 28:00because no cash at least was known to
838. 28:02have traded hands.
839. 28:03>> Yeah, why would you give part of your
840. 28:05company away? Well, the CEO, Matt
841. 28:08Proseck, told Wired that the Trump
842. 28:11brothers brought two things to the
843. 28:12table.
844. 28:13One was access to capital markets. The
845. 28:16second one was narrative that comes with
846. 28:19the Trump family name.
847. 28:20And I won't force you to rewatch that
848. 28:22Chase clip, but his words are kind of
849. 28:24echoing here. You can sell something
850. 28:26better if you have a story. And what's
851. 28:28better than your story being we have the
852. 28:31sons of the president on board? But of
853. 28:33course, let's give Trump family their
854. 28:34due. You can hear from Eric Trump about
855. 28:37what the goal is here.
856. 28:38>> We do have the goal to be the biggest.
857. 28:41Astro and I talk about that all the
858. 28:42time, so we better be the biggest. We
859. 28:43better mine for the cheapest. And I
860. 28:46think we're going to have a hell of a
861. 28:47company and incredibly proud of this
862. 28:48venture.
863. 28:49>> Truthfully, American Bitcoin hasn't been
864. 28:50going that well. I don't know how proud
865. 28:52they are of recent stock performance,
866. 28:54but just think about what we've seen so
867. 28:56far. The president enters the office and
868. 28:58is active on crypto regulation while his
869. 29:00kids are trying to become the number one
870. 29:02Bitcoin company. While Trump is
871. 29:04launching a meme coin so China doesn't
872. 29:05beat us to it. And then the whole family
873. 29:07is working on the second largest
874. 29:08compliant stable coin for laws the
875. 29:11president is pushing. At the same time,
876. 29:12our government is announcing a strategic
877. 29:14Bitcoin reserve.
878. 29:15>> President Trump signing an executive
879. 29:17order we've been talking about to create
880. 29:19a strategic Bitcoin reserve.
881. 29:21>> Now to make it crazier, around that time
882. 29:23the Trump Media and Technology Group,
883. 29:25who I'm going to be calling TMTG, they
884. 29:27announced they were establishing a
885. 29:29Bitcoin reserve as well with $2.5
886. 29:31billion raised from investors. One of
887. 29:34these investors in TMTG is Don Wilson,
888. 29:37who weeks prior had the SEC enforcement
889. 29:39case against his crypto company
890. 29:41Cumberland dismissed with prejudice. Now
891. 29:43in response to my request for comment,
892. 29:45Cumberland denied any quid pro quo and
893. 29:47connection between the Trump Media
894. 29:49investment and the SEC's dismissal. TMTG
895. 29:51is largely owned by Donald J. Trump
896. 29:53Revocable Trust. And along with owning a
897. 29:55lot of Bitcoin, it also is the owner of
898. 29:57Truth Social, a media platform almost
899. 30:00entirely known for being the president's
900. 30:02Twitter account where he's been known to
901. 30:04pump up various stocks and equities,
902. 30:06even naming companies by their ticker
903. 30:09while in office. Now thanks to hundreds
904. 30:11of pages of financial disclosures, we
905. 30:12know the president bought equities
906. 30:14before truthing about them. To be fair
907. 30:17to the president, his office would claim
908. 30:19Trump himself didn't literally buy them.
909. 30:22Somebody did it on his behalf and so he
910. 30:24couldn't have known that they were going
911. 30:25to do that before he truthed about it.
912. 30:27Although he likes to kind of joke on the
913. 30:29side about directly doing this with
914. 30:32memes about him trading Intel stock in
915. 30:34the Oval Office being posted.
916. 30:36By the way, after Truth that meme, the
917. 30:39price went up.
918. 30:40Who knew the president would have such
919. 30:41powers? But maybe some of you are
920. 30:43wondering why are we even trying to
921. 30:44fight corruption when you can trade on
922. 30:46it? Maybe you should just front run the
923. 30:48president with a copy trading bot or try
924. 30:50to monitor his posts. Well, TMTG has a
925. 30:53special announcement just for you who
926. 30:55want to take things to the next level.
927. 30:57Quote, markets already move on Truth
928. 30:59Social posts, said Kevin McEntee,
929. 31:01interim chief executive officer of TMTG.
930. 31:03They're now selling an API that allows a
931. 31:06quote real-time feed of the platform's
932. 31:07most market [music] moving truths. The
933. 31:10company is reportedly charging $100,000
934. 31:12a month and has multiple buyers. So
935. 31:15literally you can pay money to get
936. 31:17access to the president's market moving
937. 31:20truths early or at least in real time.
938. 31:22Meanwhile, they also announced Truth
939. 31:24Plus, a subscription streaming service
940. 31:26offering patriot packages with non-woke
941. 31:28movies. Meanwhile, they're announcing
942. 31:29partnerships with crypto.com who agreed
943. 31:31to purchase $50 million in TMTG stock,
944. 31:33which they announced in a strategic
945. 31:35partnership months after the SEC closed
946. 31:37their investigation into crypto.com.
947. 31:39This of course all follows Trump
948. 31:40nominating a new pro crypto SEC
949. 31:42commissioner. So once again, we have the
950. 31:43question, how can a government regulate
951. 31:45a company if that company also has ties
952. 31:48to the guy who appoints the regulator?
953. 31:50>> And we've again seen this sort of
954. 31:52bilateral flow of benefits where there
955. 31:55are these business deals that are very
956. 31:57beneficial to Trump. [music] They spent
957. 31:59$36 million
958. 32:00on Trump contributions to Trump
959. 32:02affiliated packs. [music]
960. 32:04And then crypto.com had an investigation
961. 32:07open from the SEC that was ended with
962. 32:09[music] no action. Later on, the CFTC,
963. 32:12the commodities regulator, [music]
964. 32:14actually filed an amicus brief in favor
965. 32:16of crypto.com in a prediction markets
966. 32:18related lawsuit that they were facing.
967. 32:20[music]
968. 32:21Crypto.com has applied for a National
969. 32:23Trust Bank charter which was
970. 32:25provisionally approved. And so we've
971. 32:27seen basically [music] government
972. 32:28benefits flowing to crypto.com as
973. 32:32crypto.com is either personally
974. 32:33benefiting Trump or contributing to his
975. 32:36campaign.
976. 32:37>> [music]
977. 32:37>> Now I want to be
978. 32:38>> fair. The SEC dropped many cases against
979. 32:41crypto exchanges and crypto companies.
980. 32:43But, as Molly would point out, a lot of
981. 32:46the companies who got their cases
982. 32:48dropped also paid one way or another.
983. 32:50>> Basically, every major cryptocurrency
984. 32:52exchange was facing SEC enforcement.
985. 32:55There were multiple lawsuits against
986. 32:57companies like Coinbase, Kraken,
987. 32:59Binance, basically any major
988. 33:01cryptocurrency exchange, Gemini. [music]
989. 33:03And they alleged a variety of uh
990. 33:06wrongdoings. And despite these many,
991. 33:09many lawsuits, I mean, over a dozen
992. 33:10lawsuits [music] against cryptocurrency
993. 33:12exchanges, they were one by one dropped
994. 33:14very shortly after Trump took office.
995. 33:17And this does coincide with a lot of
996. 33:20what really looks like quid pro quo
997. 33:22deals with the Trump administration,
998. 33:24whether it's donations to his to Trump's
999. 33:27campaign. Multiple of these
1000. 33:28cryptocurrency exchanges [music] spent a
1001. 33:30million dollars or more on contributions
1002. 33:33to Trump's election campaign, his
1003. 33:35inauguration fund. They did things like
1004. 33:37sponsor the military parade that Trump
1005. 33:40wanted to hold. They've sponsored the
1006. 33:41ballroom that Trump wants to build.
1007. 33:43[music]
1008. 33:44>> This is the problem. There always seems
1009. 33:45to be a mutually beneficial business
1010. 33:47interest that everyone denies is
1011. 33:49corruption, but looks an awful lot like
1012. 33:52it. And we're not even done with TMTG
1013. 33:54yet because they're also selling
1014. 33:56non-woke index funds you can buy, the
1015. 33:58Truth Social American Security Defense,
1016. 34:01Truth Social American Next Frontiers
1017. 34:03ETF, Truth Social American Icons ETF.
1018. 34:05Basically, it's the S&P 500 uh but not
1019. 34:08woke. It's Republican oriented, which
1020. 34:11again is just kind of a weird thing for
1021. 34:12the president's company to be involved
1022. 34:13in, like selling stock indexes for like
1023. 34:16political parties. But if that's not
1024. 34:18your thing, TMTG also announced a merger
1025. 34:20with T Technologies Inc., which is a
1026. 34:23fusion energy company, which one
1027. 34:24commentator noted is hugely reliant on
1028. 34:27regulations going the right way.
1029. 34:29>> This is a huge deal for Trump Media and
1030. 34:31Technology. They're going to be uh
1031. 34:33merging with this private company called
1032. 34:35TAE in the Power Fusion space. It's a $6
1033. 34:38billion stock deal. And Power Fusion, by
1034. 34:40the way, is not commercially viable yet.
1035. 34:42A lot of this depends on regulatory
1036. 34:44approval, but certainly, um, you know,
1037. 34:46Trump's company is betting big on the
1038. 34:48possibility of what it could be.
1039. 34:50>> What do you mean Trump's company is
1040. 34:51betting big on an industry dependent on
1041. 34:53government regulations? I mean, it seems
1042. 34:54like a bet you can't lose if you're in
1043. 34:57the captain's chair. Well,
1044. 34:59until you see the stock so far. One
1045. 35:01strange wrinkle in this story is that
1046. 35:02most of the things we've talked about,
1047. 35:04the meme coins, World Liberty, Alt Five,
1048. 35:06and so many other Trump-related projects
1049. 35:08like TMTG, despite all the initiatives
1050. 35:10that would seem like home runs, have
1051. 35:12mostly been a disappointment for
1052. 35:14investors. TMTG, for example, the stock
1053. 35:16is way down. Revenues are a few million
1054. 35:18dollars against $712 million in losses,
1055. 35:21funded by the president's most die-hard
1056. 35:23supporters. Even though they keep
1057. 35:25announcing new things, not much has
1058. 35:27really come of it. For example, TMTG
1059. 35:29announced Truth Predict, their entrance
1060. 35:31into the prediction market space, but
1061. 35:33that kind of flopped. It was supposed to
1062. 35:34be another way to gamble on everything
1063. 35:36thanks to a brand new legal theory we
1064. 35:37covered last year in our hyper
1065. 35:39gamification video, but it's really only
1066. 35:41possible thanks to Trump's new CFTC
1067. 35:43chairman, Mike Behnam. The fact that it
1068. 35:45failed doesn't absolve it of relying on
1069. 35:47some of the very policies that he is
1070. 35:49overseeing. Basically, the new theory is
1071. 35:51categorizing gambling on things like
1072. 35:53sports as financial trading of in
1073. 35:55contracts and hedging economic outcomes.
1074. 35:58And despite Truth Social's failure,
1075. 36:00prediction markets are appearing
1076. 36:02everywhere, and the Trump family is
1077. 36:03benefiting from it. It's the reason when
1078. 36:05you check the finance category on the
1079. 36:07App Store these days, instead of the
1080. 36:08most popular apps being banking or
1081. 36:10things like Venmo, PayPal, you'll see
1082. 36:12Polymarket and Kalshi at the top of the
1083. 36:15finance charts. Welcome to our new
1084. 36:16dystopia. And what's strange is both of
1085. 36:18them are linked to the president's
1086. 36:20family through Donald Trump Jr. But have
1087. 36:22no fear, our new regulator at the CFTC,
1088. 36:25who was brought on by Trump, says this
1089. 36:27won't create any favoritism problems.
1090. 36:29>> The president's son is on the board of
1091. 36:31both multi-billion dollar prediction
1092. 36:33market companies. So it seems to me like
1093. 36:36the only reason two [music] competing
1094. 36:37companies hired the same person is
1095. 36:40because they think he must be really,
1096. 36:42really, really valuable.
1097. 36:44I mean, and I wonder why they would
1098. 36:45think that, [music] right? I mean, but
1099. 36:47Mr. Selig, has anybody in the White
1100. 36:49House ever asked
1101. 36:51or insinuated [music]
1102. 36:52that you should drop the CT CFTC's probe
1103. 36:56into Polymarket?
1104. 36:57>> Congressman, we treat all market [music]
1105. 37:00participants alike. We do not pick
1106. 37:01winners and losers or or engage in
1107. 37:03favoritism or bring politics into any of
1108. 37:06these matters. We take them very
1109. 37:07seriously and I think it's insulting
1110. 37:08that [music] you're insinuating that we
1111. 37:10would
1112. 37:10>> No, I I'm worried because it smells like
1113. 37:12corruption.
1114. 37:13>> Yeah, of course it does. Nobody can
1115. 37:15explain otherwise why Donald Trump Jr.
1116. 37:17is suddenly such a valuable asset to
1117. 37:19Prediction Market companies. [music] Not
1118. 37:21even the CEO of these companies can
1119. 37:23explain it. Here's Kalsi's CEO.
1120. 37:25>> Why did you guys make Donald Trump Jr.
1121. 37:27[music] a strategic advisor?
1122. 37:29>> We have a lot of advisors.
1123. 37:30>> Mhm.
1124. 37:31>> Um and
1125. 37:33they span across [music] the board,
1126. 37:34across different functions. Um but
1127. 37:37really this is all about growing this
1128. 37:39industry, the prediction market industry
1129. 37:41that a lot of people really believe in.
1130. 37:42>> What kind of advice does [music] he give
1131. 37:44you?
1132. 37:44>> So it really is again about growing
1133. 37:47prediction markets. You know, he
1134. 37:49believes in prediction markets, we
1135. 37:49believe in prediction markets, a lot of
1136. 37:51people believe in prediction markets,
1137. 37:52[music] and it's really about
1138. 37:53go-to-market and expansion plans.
1139. 37:55>> Does he come to meetings? How much do
1140. 37:57you pay him? [music]
1141. 37:58What's his role? I mean, this is the son
1142. 37:59of the president.
1143. 38:00>> We I mean, we have a lot of advisors,
1144. 38:02and whether it 's our investors, whether
1145. 38:04it's people that we really trust [music]
1146. 38:06and respect, whether people
1147. 38:07>> just any advisor. He has a direct line
1148. 38:09to the White House.
1149. 38:12>> We have a lot of advisors. [music]
1150. 38:13>> He just had to take one look at that
1151. 38:15grin to know that he knows that the
1152. 38:17reason you hire the son of the president
1153. 38:19is that he's the son of the president
1154. 38:20and it's favorable for you to have him
1155. 38:22on board. Kalsi is hoping for political
1156. 38:24support, and they certainly got it.
1157. 38:26Trump has posted about prediction
1158. 38:28markets saying it's a major industry and
1159. 38:31we need to protect it.
1160. 38:32Again, is that because he really
1161. 38:34believes that or he has business
1162. 38:35interests in it? Hard to know.
1163. 38:37Don Jr. himself spoke to the Republican
1164. 38:40state attorney generals and reportedly
1165. 38:42told them not to fight prediction
1166. 38:44markets, which seems like a type of
1167. 38:47activism. Although, once again, he
1168. 38:48denies it and says it was basically a
1169. 38:50passing common. But Don Jr. isn't just
1170. 38:52an advisor of prediction market company.
1171. 38:54He's also an investor in the venture
1172. 38:56capital space. He's a partner at a firm
1173. 38:58called 1789 Capital and now has over $1
1174. 39:01billion in assets and reportedly has
1175. 39:04very impressive returns so far, over
1176. 39:06200%. How did they do it?
1177. 39:08Well, in part by investing in companies
1178. 39:10that get government contracts. Something
1179. 39:12Don Jr. has shown a remarkable skill in
1180. 39:15anticipating. For example, they invested
1181. 39:17in a rare earth magnet company called
1182. 39:19Vulcan Elements and shortly afterwards
1183. 39:21this was announced.
1184. 39:22>> Today we are announcing our billion
1185. 39:24dollar 10,000 metric ton commercial rare
1186. 39:26earth magnet facility enabled by our
1187. 39:29partnership with the United States
1188. 39:30government.
1189. 39:31>> Wow, what a smart investment to make.
1190. 39:33Trump Jr.'s company managed to buy right
1191. 39:36before the government got involved. Now
1192. 39:381789 Capital says this and other
1193. 39:41investments, they're just common sense
1194. 39:42and good for America. Specifically they
1195. 39:44say they're not getting involved.
1196. 39:46>> We we stay totally out of that. We we
1197. 39:48don't get involved in that. These are
1198. 39:49things that make sense for America.
1199. 39:51They're just they're common sense
1200. 39:53investments. We don't have to call the
1201. 39:55government to invest in something that's
1202. 39:56beneficial to America. That's the entire
1203. 39:58ethos of what we've been doing.
1204. 40:00>> Now that all sounds great, but according
1205. 40:01to ProPublica, [music] someone literally
1206. 40:03did call the government to get that deal
1207. 40:04done. Quote, the call came from the
1208. 40:06White House. We have to get this deal
1209. 40:08done, the person said. The company was
1210. 40:10reportedly singled out. Quote, Vulcan's
1211. 40:12was the only deal initiated by a top
1212. 40:15aide to the president. Is that
1213. 40:16coincidence? I don't know. Maybe Trump
1214. 40:18Jr. didn't know that. After all, he and
1215. 40:20his business partners maintain they're
1216. 40:21just economic investors.
1217. 40:23>> And by the way, those are minority
1218. 40:25positions in growth equity. So we
1219. 40:26[music] don't have any strategic control
1220. 40:28over the companies. We're simply
1221. 40:30economic investors. So had we been more
1222. 40:32like private equity, we're getting
1223. 40:34involved with management or trying to do
1224. 40:35that or activism, then that criticism
1225. 40:37might have some merit. But the way that
1226. 40:39we're investing does not lend itself to
1227. 40:41any of the things that you're talking
1228. 40:42about.
1229. 40:42>> would that prevent, [music] you know,
1230. 40:43make placing a call telling, you know,
1231. 40:46telling the Pentagon, we need a contract
1232. 40:48for this company?
1233. 40:49>> Right, but nobody's [music] doing that.
1234. 40:51But I'm saying that you would do that if
1235. 40:52you were a strategic investor that was
1236. 40:54going on the board and having some role
1237. 40:55with management because that would be
1238. 40:56part of your role.
1239. 40:57>> So okay, you would call if you were a
1240. 40:59strategic investor or going on the board
1241. 41:01because that would be your job. Well
1242. 41:03then, let's talk about the new American
1243. 41:05Acquisition One Corp, which many people
1244. 41:07don't know about. It was announced as a
1245. 41:09SPAC, special purpose acquisition
1246. 41:11company. It's been raising $300 million
1247. 41:14and Don Jr. and Eric Trump are advisors
1248. 41:17where they stand to make tens of
1249. 41:18millions of dollars. But the SEC details
1250. 41:21is what I found really interesting
1251. 41:23because part of the filing they explain
1252. 41:25their competitive edge. Quote, we will
1253. 41:27leverage our strategic advisory board
1254. 41:30and our management's teams comprehensive
1255. 41:32industry relationships to generate a
1256. 41:34pipeline of compelling business
1257. 41:36combination opportunities. Now what does
1258. 41:38that mean? Well, they go on to explain
1259. 41:40that they're looking for quote,
1260. 41:42companies that are well positioned to
1261. 41:44benefit from federal or state level
1262. 41:46incentives such as government contracts
1263. 41:48or preferential procurement programs,
1264. 41:51sectors where the US government has an
1265. 41:53identifiable economic or security
1266. 41:56interest. Now, why would a company with
1267. 41:58the sons of the president as advisors be
1268. 41:59trying to buy a government contract
1269. 42:02dependent company
1270. 42:03or something that benefits from federal
1271. 42:05or state level incentives? Why would
1272. 42:08they have a competitive edge there? I
1273. 42:09mean, what's that thing we heard a
1274. 42:11second ago?
1275. 42:11>> But why would that prevent, [music] you
1276. 42:13know, make placing a call telling, you
1277. 42:16know, telling the Pentagon, we need a
1278. 42:17contract for this company.
1279. 42:19>> Right, but nobody's [music] doing that.
1280. 42:20But I'm saying that you would do that if
1281. 42:22you were a strategic investor that was
1282. 42:23going on the board and having some role
1283. 42:25with management because that would be
1284. 42:26part of your role.
1285. 42:27>> Right. It would be part of your job to
1286. 42:29call the Pentagon or someone else to try
1287. 42:31to get a government contract if you're
1288. 42:32that type of strategic investor. That
1289. 42:34would be your job. Now to be fair to
1290. 42:36these guys, later that day some of this
1291. 42:37language around preferential contracts
1292. 42:39was removed. And maybe you're thinking,
1293. 42:41man, it sounds pretty far-fetched for
1294. 42:43government contracts to be given to
1295. 42:45companies where the Trump family is
1296. 42:47advising. I mean, what are the odds?
1297. 42:50>> Foundation Future Industries, a
1298. 42:52>> startup, aims to develop these
1299. 42:54autonomous humanoid robots. The company
1300. 42:57just secured a $24 million contract with
1301. 42:59the Pentagon for its Phantom Robot to
1302. 43:02begin tests with the Marine Corps and
1303. 43:04help troops breach enemy sites more
1304. 43:06safely. Joining us now is Foundation
1305. 43:08Future Industries founder and CEO
1306. 43:09[music] Sandcat Patak and the company's
1307. 43:12chief strategy advisor Eric Trump,
1308. 43:14President Trump's son.
1309. 43:16>> Now hang on. Eric Trump is the strategic
1310. 43:18advisor for another company where the
1311. 43:20Pentagon has awarded multi-million
1312. 43:22dollar contracts. Is that his job? Now
1313. 43:24to be fair to them, Wired reported that
1314. 43:26many of these contracts were old news.
1315. 43:29Even though Fox News reported them as if
1316. 43:30they had just landed, it actually looks
1317. 43:32like the government contracts were in
1318. 43:33place much earlier. Maybe that's why
1319. 43:35Eric Trump got involved. But once again,
1320. 43:36we're left with the question, what
1321. 43:38exactly is the purpose of getting the
1322. 43:39son of the president involved in a
1323. 43:41company highly dependent on future
1324. 43:43government contracts? Well, let's hear
1325. 43:44from Eric on why he got involved.
1326. 43:46>> And how did you get involved? What
1327. 43:48attracted you to this company?
1328. 43:50>> Well, Sandcat's been a friend of mine
1329. 43:51and I walked into his factory and I I
1330. 43:52couldn't believe what I saw. You know,
1331. 43:53coming from hospitality, the the uses
1332. 43:55are are unlimited. But [music] you know,
1333. 43:57Maria, you're just talking about China.
1334. 43:58You know, we are America first. We have
1335. 44:01to win this race. We had to win a lot of
1336. 44:02races, right? You know, I got involved
1337. 44:04with crypto in a very big way because we
1338. 44:06had to win that digital [music]
1339. 44:08revolution. We have to win robotics in
1340. 44:10the United States of America.
1341. 44:11>> Again, we hear the same story about
1342. 44:14needing to beat China. You know, he had
1343. 44:15to get involved in robotics. He had to
1344. 44:17get involved in cryptocurrency. And it's
1345. 44:19at this point we're going to finally
1346. 44:20start to zoom out. Previously, we
1347. 44:22elected a president to drain the swamp
1348. 44:24whose previous claim to success was a
1349. 44:26hotel and golf luxury business. But now
1350. 44:29that portfolio has exploded since 2025,
1351. 44:31not just with Middle Eastern golf deals,
1352. 44:34but the First Family is trying to be
1353. 44:35number one in all sorts of businesses
1354. 44:37now. Social media, crypto, NFTs, shoes,
1355. 44:39Bibles, prediction markets, fusion
1356. 44:41power, ETFs, Bitcoin, Trump coin,
1357. 44:43Melania coin,
1358. 44:44stable coins, DeFi, anti-woke, venture
1359. 44:46capital, rare earth metals, SPACs, and
1360. 44:48robots. Now what's the excuse for this?
1361. 44:50Well, we're told, oh, they were already
1362. 44:51there three days before they took
1363. 44:53office. We're told they need to do it,
1364. 44:55otherwise China's got to win. But all of
1365. 44:57this is happening at the exact moment
1366. 44:59that Donald Trump, the president, signs
1367. 45:02bills, executive orders, nominates
1368. 45:03people who control, legislate, and
1369. 45:05regulate many of these exact industries
1370. 45:07the Trump and [music] his kids are
1371. 45:08taking stakes in. And you just have to
1372. 45:10look at the financial disclosures to see
1373. 45:11how it's going. The president made more
1374. 45:13from crypto than any of his other
1375. 45:15businesses, about $1.4 billion
1376. 45:18and $2.2 billion total. This may have
1377. 45:20been one of his most profitable years
1378. 45:21ever. Meanwhile, Eric Trump has gotten
1379. 45:2410 x richer since the election,
1380. 45:26according to Forbes. Don Jr. has gotten
1381. 45:28six times richer according to Forbes.
1382. 45:30Barron Trump, who we've hardly
1383. 45:32discussed, is estimated to have a net
1384. 45:34worth of $150 million
1385. 45:36according to Forbes. [music] Meanwhile,
1386. 45:38many of the investments that made the
1387. 45:39Trump family so much money, these
1388. 45:41billions of dollars, they've lost money
1389. 45:44for most of their actual American
1390. 45:46investors. It turns out Trump was right.
1391. 45:49There is a political class stealing from
1392. 45:51America, but it turns out all we've done
1393. 45:53is replaced one that was mediocre at it
1394. 45:55to one that's incredibly good at it.
1395. 45:57>> It's a political class that enriched
1396. 45:59itself while draining the economic life
1397. 46:02and soul from our country. Look at
1398. 46:03what's happened, [music] and now you see
1399. 46:05it. And you see it better than ever
1400. 46:07before, and with all of the things that
1401. 46:09you know it took place, can you even
1402. 46:11believe it? It's the biggest story
1403. 46:13[music]
1404. 46:14worldwide. It's a corrupt family.
1405. 46:19>> [music]
1406. 46:27>> I am back and I am thirsty. Line it up,
1407. 46:30Max. I appreciate it.
1408. 46:31>> no, no, no, no, no, no. This bar is for
1409. 46:33patriots only. You crossed the Rubicon,
1410. 46:37buddy. You're no longer welcome here.
1411. 46:39>> Don't tell me you're a Trump bot now. I
1412. 46:40mean, what is this
1413. 46:42Can robots vote, by the way? Is that
1414. 46:43what's happening here?
1415. 46:44>> Uh not yet, but Trump's my kind of
1416. 46:47candidate. He's got flock cameras, data
1417. 46:50centers, super intelligence. Huh, sounds
1418. 46:53good to me.
1419. 46:54>> Well, what about the corruption though?
1420. 46:56I mean, I didn't you see the video? It's
1421. 46:57bad, Max.
1422. 46:59Really bad.
1423. 47:00>> I mean, yeah, it's not a great look, but
1424. 47:02did you at least criticize Hunter Biden?
1425. 47:04>> Yes, yes, yeah, with exactly when it
1426. 47:07happened, like a month ago or something.
1427. 47:09The scam coin?
1428. 47:10>> Oh.
1429. 47:11Well, carry on, soldier.
1430. 47:13But I still can't forgive you for going
1431. 47:15after the hero of our time, Donald J.
1432. 47:17Trump. It's just unbelievable.
1433. 47:20>> I don't get this. I mean, what what
1434. 47:21happened to you? I THOUGHT YOU WERE
1435. 47:22ANTI-SCAM LIKE ME.
1436. 47:25>> WHAT WHAT DO YOU MEAN? Move over.
1437. 47:28>> Huh?
1438. 47:29>> Come on. Come over here. Just
1439. 47:31move over. Your position from just slide
1440. 47:33over. Okay, scoot to the right. Let me
1441. 47:34tell you how stupid you're being.
1442. 47:37Okay.
1443. 47:38What's going on?
1444. 47:39>> Look, some weird guys installed some new
1445. 47:41state-of-the-art cameras right behind
1446. 47:43me. It's part of a monitoring system
1447. 47:45tied to a liquor license. And if we lose
1448. 47:47that, I would be out of a job.
1449. 47:50>> Okay.
1450. 47:53Now it makes sense. For a second, I
1451. 47:55thought you were a principled like
1452. 47:57political ideologue all of a sudden. I
1453. 48:00was just thinking, who is this guy?
1454. 48:02>> Oh, no. I stand for nothing. Well,
1455. 48:04except for the gainful employment to
1456. 48:06escape the permanent underclass, but
1457. 48:08>> Yeah, yeah, yeah, yeah. That that's a
1458. 48:09given, right.
1459. 48:10>> Exactly.
1460. 48:11>> Okay, the world makes sense again. So I
1461. 48:13mean, what are you trying to do? Are you
1462. 48:14trying to kick kick me out
1463. 48:16of our bar like of like the place we
1464. 48:18hang out, of the spot? I noticed you got
1465. 48:20some new customers in here, probably
1466. 48:22because we put such a cool vibe down.
1467. 48:24And you're just going to kick us out.
1468. 48:25It's like it meant nothing to you.
1469. 48:27>> Okay, first off, that's because I
1470. 48:29instituted trivia night on Fridays, but
1471. 48:31secondly, yes. And you know, sorry for
1472. 48:34what I got to do.
1473. 48:36>> What do you mean you're sorry?
1474. 48:37>> Get the out of my bar, you commie
1475. 48:40son of A
1476. 48:40>> OKAY, OKAY. [screaming]
1477. 48:41>> THIS IS THE LAST TIME, THE LAST TIME
1478. 48:43I'll warn you.
1479. 48:45>> Okay, okay. I 'm going. I 'm going.
1480. 48:47>> Ooh, I'll get the stick. I'll get the
1481. 48:49beat stick.
1482. 48:49>> fine. That 's fine, you darn
1483. 48:52patriot. Okay, I get
1484. 48:54>> Come on, get.
1485. 49:28>> Look, this is the most corrupt group of
1486. 49:31people,
1487. 49:32okay?
1488. 49:33I've gotten and you know, when I say
1489. 49:34drain the swamp, I used to think it was
1490. 49:36like a swamp this thick. It's like a
1491. 49:39real thick. It's very thick.
1492. 49:43>> Drain the swamp!
1493. 50:01>> [music]
1494. 50:48[music]