Trump's Cryptocurrency Empire Exposed as 'Rigged Market'

Michael Wolff, President Donald Trump's longtime biographer, has expressed his frustration and confusion over why so many people continue to invest in ventures associated with Trump despite their poor financial outcomes. According to recent financial disclosures, Trump's cryptocurrency businesses generated approximately $1.4 billion last year, including roughly $636 million from licensing 'celebration coins' and more than $525 million from token sales by World Liberty Financial, a cryptocurrency company established by Trump's two oldest sons, Don Jr. and Eric.

Wolff argues that investing alongside Trump comes with the risk of playing in a 'classic rigged market,' where Trump makes billions while investors lose an estimated $3.8 billion. He struggles to understand why so many people continue to put their money into ventures associated with Trump, saying, 'What I wonder is, what's in their head?'

Wolff also points out that Trump's financial pursuits are driven by more than personal gain, claiming the president believes he is entitled to profit because of his position and the legal and political battles he has faced. He concludes that Trump sees himself as deserving of reward, saying, 'It's not just grift for him. It's truly revenge, a revenge that he deserves, that he is due.'

The White House strongly disputed Wolff's account, with Communications Director Steven Cheung describing the author as a 'lying sack of s***' and a 'fraud.' In response to reports about the Kazakhstan mining deal, White House spokesperson Kush Desai said, 'The only special interest guiding the Trump administration's decision-making is the best interest of the American people.'