Billionaire Backer Sues Trump Family's Crypto Firm Over Alleged Extortion (bbc.co.uk)
- Reference: 0181871324
- News link: https://yro.slashdot.org/story/26/04/22/2146235/billionaire-backer-sues-trump-familys-crypto-firm-over-alleged-extortion
- Source link: https://www.bbc.co.uk/news/articles/c8x7kxjgq9xo
> The Trump family's World Liberty crypto venture is [2]being sued by one of its billionaire backers over allegations of extortion. Justin Sun has [3]accused World Liberty of an "illegal scheme" to seize his WLFI tokens, a cryptocurrency issued by the company. Sun alleges the firm, co-founded by U.S. President Donald Trump and his son Eric Trump, has "frozen" all of his tokens and stripped him of his right to vote on governance issues.
>
> [...] Sun alleged that those running World Liberty, including another co-founder, Chase Herro, are using it as a "golden opportunity to leverage the Trump brand to profit through fraud." In his complaint, filed on Tuesday in a San Francisco federal court, Sun argues that initial promises to give token-holders the option to trade the currency in future "were false and misleading." While the tokens at large became tradeable, Sun said World Liberty has blocked him from being able to sell a single one, and is now threatening to "burn" his - deleting them entirely.
WLFI said in [4]a post on X: "Does anyone still believe @justinsuntron? Justin's favorite move is playing the victim while making baseless allegations to cover up his own misconduct. Same playbook, different target. WLFI isn't the first. We have the contracts. We have the evidence. We have the truth. See you in court pal."
[1] https://slashdot.org/~Alain+Williams
[2] https://www.bbc.com/news/articles/c8x7kxjgq9xo
[3] https://x.com/justinsuntron/status/2046787043557244983
[4] https://x.com/worldlibertyfi/status/2043351375640182862
Unclear on the concept. (Score:5, Insightful)
'using it as a "golden opportunity to leverage the Trump brand to profit through fraud."'
Doesn't he realize that's the point of the whole Trump presidency?
Re: (Score:2, Troll)
Apparently, there are still people out there that think Trump is a good businessman, and not a complete charlatan.
Re:Unclear on the concept. (Score:5, Interesting)
I particularly love that we are currently in a war of literal negotiation right now, where the exact traits of the Art-of-the-Deal Master Negotiator himself, the reason we just had to have him in foreign policy because he just such the dealmaker is not only flopping at dealmaking when there's real actual stakes on the line, he doesn't appear to be leading the negotiations. The whole madman schtick was already played out his first term.
Also do we notice now how he always sends the same two numbskulls *to every negotiation*. Witkoff and Kushner, they do it all. Should you get a seasoned ambassador who knows the culture, has established relationships, maybe even speaks Arabic? Hell no, just throw fucking Witkoff and Kushner in there. We don't have a deep bench here.
It's not even if Trump isn't great at being a businessman it's the charade that he actually actively sucks shit at business and everything around it. The one thing an executive is supposed to have going for them is knowing who to hire and it might the thing he's the worst at.
Re: (Score:2)
Just so we're clear here, the Iranians are Persian and they really hate being confused for Arabs.
Re: (Score:2)
True, that's my bad there!
Re: (Score:1)
I think it's worth mentioning that I thought the rest of your statement was spot-on, but this minor point of order should serve as a perhaps somewhat humbling bit of evidence that you probably wouldn't have done any better at managing the situation yourself.
Re: (Score:2)
I wouldn't be doing better at managing the ongoing conflict between the US and Iran? I mean for the good of the nation I would hope I don't end up in that position.
Then again as part of my Presidential platform I will promise to have knowledgeable staffer proofread all my flip remarks on the internet to avoid such mistakes and ensure they are acceptable representation of the great weight the position carries. See I'm already doing better than the current President!
Re: (Score:1)
Heh, fair enough.
Trump supporters retreated into safe spaces (Score:2)
It doesn't matter how obvious it is that Trump is an incompetent boob they will never know because in order to avoid facing that fact they hide out in safe spaces where Trump doesn't get criticized.
I'm sure you've noticed it. If you post something about Trump you don't get modded down immediately anymore and you don't get a bunch of idiots screaming tds. You get a couple of very obvious llm bots running off of people's gpus, they'll be one of them under this comment if it gets modded up, and that's it.
Re: (Score:2)
Up until the grifting kicked into high gear (and making the IRS pay him a $10 billion settlement) it was proven he would have been more rich had he let his initial inheritance ride in the S&P 500 [1]https://www.forbes.com/sites/d... [forbes.com]
[1] https://www.forbes.com/sites/danalexander/2021/10/11/its-official-trump-would-be-richer-if-he-had-just-invested-his-inheritance-into-the-sp500/
Re: (Score:2)
> 'using it as a "golden opportunity to leverage the Trump brand to profit through fraud."'
> Doesn't he realize that's the point of the whole Trump presidency?
My understanding is that it's basically his business model.
Re: (Score:2)
But he's supposed to defraud others, not get defrauded himself!
I don't think he should be allowed to sue (Score:5, Interesting)
Only people who didn't choose to do business with Cheeto Benito and his crime family should be allowed to sue him at this point, because anyone who is paying even the slightest amount of attention knows he's a thief and a fraud. This fucker is just mad that he's not getting as much out of the fraud as he thought he would. Fuck him.
Re: (Score:3)
Bingo. Nobody gets to act surprised anymore.
Not only should this guy get fucked but he should be put under criminal investigation along with anyone at all involved with this crypto scheme. It's just a literal bribery machine, there's no other justifiable reason it exists as it does.
The enemy of my enemy... (Score:3)
> Only people who didn't choose to do business with Cheeto Benito and his crime family should be allowed to sue him at this point, because anyone who is paying even the slightest amount of attention knows he's a thief and a fraud. This fucker is just mad that he's not getting as much out of the fraud as he thought he would. Fuck him.
He may be a scumbag, but is he a useful scumbag? I have endless concerns about the Trump presidency, especially the second term, just like most Americans do by this point...however, impeachment didn't work...running 2 women against him didn't work....becoming an actual felon didn't work. The price of letting him win ranges from the problems introduced with his tariffs...AKA, the best bribe and extortion scheme in history and that whole coup in Venezuela and the new war in Iran which I don't think he knows
Re: (Score:2)
> Only people who didn't choose to do business with Cheeto Benito and his crime family should be allowed to sue him at this point, because anyone who is paying even the slightest amount of attention knows he's a thief and a fraud. This fucker is just mad that he's not getting as much out of the fraud as he thought he would. Fuck him.
So you think it's better if Trump can't be sued for fraud? I don't disagree with your assessment, but I think we're still all better off if Trump's scam business has to defend itself in court.
Re: (Score:2)
OK, fair, but he should at least have to give a good explanation as to why he's not a willing accessory or be forced to serve as DJT's diaper genie.
Someone got into crypto not understanding -- shock (Score:3)
So someone go into alt-coin crypto without understanding what they go in to? Shocking, total shocking. :-)
Re: (Score:1)
Even more than that.
Someone goes into alt-coin crypto with DONALD TRUMP and expects not to get screwed?
There's reality, there's fantasy and make-believe, and then there's... whatever this is?
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> Even more than that. Someone goes into alt-coin crypto with DONALD TRUMP and expects not to get screwed?
I don't know, some people made money of off Trump High Top sneakers. :-)
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I suspect it's more hubris than outright stupidity: he's capricious; but Trump sometimes permits others to feast on the little people as well, when it suits him. I suspect that our gentleman here had no expectation that the dealings would be honest; but was hoping that they would be partners in crime against people who don't matter.
It will be morbidly interesting to see how his 'attempt to seek justice through the courts against someone whose lawlessness he has bene abetting' plan will work out for him.
Re: Someone got into crypto not understanding -- s (Score:4, Insightful)
Oh they knew. They just did not expect the Trump family to fuck over their supporters. That was for the other people.
This is my shocked face (Score:1)
Can you see how surprised I am?
Funny how ... (Score:2)
> Billionaire Backer Sues Trump Family's Crypto Firm Over Alleged Extortion
The word "alleged" gets used a lot with Trump and his family. :-)
When are people going to learn (Score:4, Interesting)
People need to learn to NEVER go into any building with Trump. It has never worked out for a majority of people in the past, so I am finding it hard to believe anyone thinks they would be the first partner that he doesnâ(TM)t royally screw over
Re: (Score:2)
Trump is very good at saying, this time is different: "The scorpion and a frog" story in real life. As a psychopath, Trump likes to figuratively stab his partners in crime, in the back. It's okay, there's always another thief who thinks he's a better criminal than the last guy.
The True Mark... (Score:3)
...is the one that thinks they are in on the con.
A moden fable in action (Score:2)
Surely the leopards won't eat my face said the man as he handed his money.
Obligatory: (Score:2)
Something something leopards, something something face.
The only reason to buy into Trump's scheme (Score:4, Informative)
Was to bribe him in the hopes of getting juicy government contracts like what Elon Musk got. You can get a pardon from Trump for a couple million bucks but I think if you want nice big juicy government contracts you're going to have to match what muskrat brings to the table and that was a quarter billion dollars of campaign funds.
In other news, the president of the United States accepted a quarter billion dollar bribe in addition to several billion dollars worth of bribes for pardons and literally nobody cares.
I'm sure this is fine.
Re:The only reason to buy into Trump's scheme (Score:5, Insightful)
Those are all public record by-the-book government contracts with all the requisite paperwork and bureaucracy and there has never been a whiff if impropriety about any of it. What did Tesla bride Obama with? What did Obama get? Has the investment in Tesla not been shown to be quite wise? Hell the Commercial Crew program was done under Obama and that's one of the best recent examples of the power of public/private partnerships. Look at what SpaceX has become since then.
I feel like all you're showing here is that Obama and Biden were both far, far, far more effective leaders of legislation and stewards of governance than Trump could ever be.
Do we have public record of every WLFI coin buyer?
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> I feel like all you're showing here is that Obama and Biden were both far, far, far more effective leaders of legislation and stewards of governance than Trump could ever be.
Now that you've used your emotions, now try logic. The original claim was that Elon needed bribes to get contracts. The Obama and Biden era contracts indicate otherwise.
With respect to space, Trump has actually been stronger than Obama and Biden.
Re: (Score:3)
Ehh, Musk didn't need bribes to get those contracts for sure, totally agree there. Anything post 2024 though we don't really know now do we?
Elon was hired to lead a government agency, a particularly controversial one and then left many of his own people in positions of government. That's a huge conflict of interest. Elon was the primary booster for Issacman to become NASA admin. I think Issacmean means well and is doing an alright job but still, gigantic conflict of interest when NASA is doling out cont
Re: (Score:2)
There's really no denying that Elon (and his teams) can deliver technology, but regarding him, personally, and his ego ... quoting from [1]Vindicators 3: The Return of Worldender [wikipedia.org]:
> Morty: When you're an asshole, it doesn't matter how right you are, nobody wants to give you the satisfaction.
[1] https://en.wikipedia.org/wiki/Vindicators_3:_The_Return_of_Worldender
Re: (Score:1)
> Obama:
Is no longer president and I stopped reading.
Re: (Score:2)
>> Obama:
> Is no longer president and I stopped reading.
And that's how you became and remain ignorant.
Re:Pardons are an even $1 million (Score:5, Insightful)
It only costs $1 million for a pardon. Proof. [1]https://thehill.com/homenews/a... [thehill.com]
[1] https://thehill.com/homenews/administration/5319932-trump-pardon-paul-walczak/
Re: (Score:2)
> It only costs $1 million for a pardon. Proof. [1]https://thehill.com/homenews/a... [thehill.com]
I don't think there's a price sheet. The amount will depend on what you can afford and on how much heat Trump will take for granting it. That second part is a weak consideration, though, as evidenced by the pardon of Juan Orlando Hernandez, who was convicted for doing exactly what Nicolas Maduro is alleged to have done (though Maduro probably didn't, not nearly to the same degree, though he was a bad guy in a lot of ways).
[1] https://thehill.com/homenews/administration/5319932-trump-pardon-paul-walczak/