Trump's Crypto Cronies: Another Swamp Creature Surfaces
So, Trump pardoned Changpeng Zhao, the Binance dude. Big freakin' deal, right? Except it is a big deal, because it's another steaming pile of corruption served up with a side of "I don't know anything about it." Give me a break.
The guy ran Binance, which, according to the Justice Department, caused "significant harm to U.S. national security." Oyer, the ex-Justice Department pardon vetter (before the Trump loyalists showed up, anyway), says Zhao wasn't even close to meeting the guidelines for a pardon. Unusual? That's putting it mildly. She calls it corruption, plain and simple. And let's be real, she ain't wrong.
The Crypto Grift Goes Mainstream
Trump's been all-in on crypto lately, which, offcourse, conveniently coincides with his family launching World Liberty Financial (WLFI). Sounds legit, right? World Liberty Financial, or WLFI world liberty financial, is gonna be like a bank, but for digital funny money. Their "gold paper" pitch to investors? Please. Austin Campbell, some ex-banker-turned-crypto-guru, says it was basically unknown before Zhao's Binance stepped in.
Here's where it gets extra greasy. Zhao's company, Binance, donated software to World Liberty. I mean, "donated." More like "threw a lifeline to a failing project so it could later be used as leverage." Without Zhao, Campbell says, the technology wouldn't even exist. Convenient, huh? And then, the cherry on top: some Emirati fund dumps $2 billion into World Liberty crypto (WLFI crypto). Two. Billion. Dollars.
Quid Pro Quo? You Decide
The Emiratis claim it was all about "business suitability." Suuuure. Two weeks later, Trump announces the Emirates are investing in America, and we're giving them restricted AI chips. Correlation ain't causation, blah blah blah. But Lessig, the Harvard ethics guy, nails it: it's not about explicit bribes; it's about the culture of "giving and exchanging." It's about creating a situation where foreign governments can whisper, "Hey, remember that two billion we put into your family's little crypto venture?"
And Zhao? He now "controls whether [World Liberty] dies or lives." He's got a sword hanging over their heads. A sword made of crypto and corruption.
Trump claims he doesn't know Zhao. Right. He said, "A lot of people say that he wasn't guilty of anything." I mean, the guy pled guilty! But hey, who needs facts when you've got "very good people" whispering in your ear?
Then Eric Trump says his dad has nothing to do with World Liberty. Uh-huh. The president's businesses are in a trust run by his family. Gerhardt, the constitutional scholar, says that doesn't shield him from self-dealing. It's a classic conflict of interest. He's got people who have invested in his business he wants to keep happy, and that is NOT justice.
But Wait, There's More (BS)
World Liberty's lawyers claim Binance only provided "freely available" software. Yeah, "simply to save [World Liberty] from wasting time." And they swear they never contacted Trump about Zhao's pardon. I'm sure.
Oyer says she got canned for refusing to sign off on restoring Mel Gibson's gun rights. The administration is using pardons as rewards for friends and donors. Selling off pieces of our democracy, she says. Maybe she's right. Lessig says we've never had this level of money in politics before. Institutional corruption, plus the fear of private corruption in the executive branch. America's in jeopardy because people have lost faith in the government. Zhao claims he doesn't have a business relationship with Trump's sons. But Binance still has $2 billion in World Liberty. Trump pardon of crypto billionaire sparks concerns over his use of the pardon power
So, What's the Real Story?
It's the same old story: money talks, and politicians listen. The swamp isn't being drained; it's just getting a fresh coat of crypto paint. And honestly...I'm not even surprised anymore.