‘Draining the Economic Life and Soul’: Coffeezilla Turns Trump’s Own Words Against His Crypto Empire
YouTuber Coffeezilla has revealed that investments making the Trump family billions may have caused most American crypto investors to lose money.
YouTuber and cryptocurrency investigator Coffeezilla, along with researcher Molly White, has published an extensive investigation into the US President's family's crypto businesses. The investigation reveals that many investments making the Trump family billions may have actually caused most American investors to lose money.
It turns out Trump was right. There is a political class stealing from America, but it turns out all we've done is replaced one that was mediocre at it to one that's incredibly good at it.
World Liberty Financial
The investigation primarily focuses on World Liberty Financial, which was launched before the 2024 presidential election. After Trump won, its token sales reportedly reached $550 million. An entity backed by UAE royal Sheik Tahnoun bin Zayed paid $500 million for a 49% stake just four days before Trump's inauguration.
The investigation questions why this investment wasn't disclosed when World Liberty announced its USD1 stablecoin would be used for MGX's $2 billion investment in Binance. Interest earned on USD1's reserves could generate hundreds of millions for Trump family entities.
Controversial Tokens
The TRUMP meme coin, launched before Trump returned to the White House, reportedly generated $600 million. Melania Trump's token and NFT ventures brought in another $6 million. However, both tokens later lost approximately 95% and 99% of their peak values respectively.
World Liberty Financial has rejected the allegations, defending its business activities while maintaining it followed regulatory procedures. The company denies receiving special treatment or influencing government policies.
Other Investments
The investigation also scrutinized World Liberty's $1.5 billion deal with ALT5 Sigma, which reportedly generated $500 million for a Trump entity and $90 million for the Witkoff family. ALT5's stock subsequently lost 95% of its value.
Possible conflicts of interest involving foreign investors and government officials were examined, particularly given Steve Witkoff's role as US Special Envoy to the Middle East. The investigation also covers Eric Trump and Donald Trump Jr.'s involvement in Bitcoin mining company American Bitcoin and Trump Media's crypto plans.
Related
