Trump made $1.4bn from crypto in one year. Is Justin Sun the man that helped him do it?
The entrepreneur is known in Washington as the financial power behind the president’s crypto fortune. How did Sun’s business love-in with the Trump family spiral
The entrepreneur is known in Washington as the financial power behind the president’s crypto fortune. How did Sun’s business love-in with the Trump family spiral into dueling lawsuits? The most infamous financial scandal in US presidential history – the 1920s Teapot Dome affair – involved President Warren G Harding’s interior secretary Albert Fall taking roughly $400,000 in bribes.
Adjusted for inflation, that’s about $6m today. Last year, Donald Trump made at least $2.2bn; his single year of income is on the order of 200 to 300 times larger than the bribe that defined “presidential corruption” in the American imagination for a century.
It’s taken for granted that Trump flogs items like Trump Bibles and gold sneakers as a way to wring more money from his loyal base. But of the president’s $2.2bn, at least $1.4bn came from his crypto businesses. That’s an extraordinary achievement, even for an unscrupulous sitting president.
How exactly did he do it without any prior background in crypto? Continue reading...
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