Secret Deals, Foreign Investments, Presidential Policy Changes: The Rise of Trump’s Crypto Firm
World Liberty Financial has eviscerated the boundary between private enterprise and government policy in ways without precedent in modern American history.
By Eric Lipton, David Yaffe-Bellany and Ben Protess, NY Times
The pitch from “ZMoney” arrived on the encrypted messaging app Signal just days before Donald J. Trump’s presidential inauguration.
“ZMoney” was Zachary Folkman, an entrepreneur who once ran a company called Date Hotter Girls and was now representing World Liberty Financial, the cryptocurrency firm that Mr. Trump and his sons had recently unveiled. Mr. Folkman was writing to a crypto startup in the Cayman Islands, offering a “partnership” in which the firms would buy each other’s digital coins, a deal that would bolster the startup’s public profile.
But there was a catch, The New York Times found. For the privilege of associating with the Trumps, the startup would have to make, in effect, a secret multimillion dollar payment to World Liberty.
