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Thoughts tagged "Donald Trump"

Short thoughts, notes, links, and musings by Molly White. RSS

Absolute chaos. After my scoop about the upcoming launch of a Trump Wallet by Magic Eden, in cooperation with the $TRUMP memecoin team, Magic Eden pushed out their announcement. Both Eric and Don Jr then repudiated the project, stating they had no prior knowledge.

Magic Eden says claims the wallet is the “Official Trump Wallet” created in collaboration with the Trump memecoin team. Trump memecoin team is Fight Fight Fight LLC (Bill Zanker), though the Trump Organization-affiliated CIC Digital also holds a substantial quantity of tokens.

However, now Eric and Don Jr are saying the Trump Org had no knowledge of this deal between the TRUMP memecoin project and Magic Eden. No statement yet from the memecoin project or from President Trump.

Magic Eden is a relatively big player in the crypto world, so this is not a case of some nobody creating a fake project pretending to be an official Trump-affiliated app.

A trader bought 6,000 $TRUMP on April 21, two days before the announcement that top holders would be invited to dinner with the president. They sold it a few hours after the announcement two days later caused the token price to go up, earning $33k on the trade. Impressive timing!

Solscan screenshot showing the trader purchased 6,041.52 TRUMP for $51,051.35 in USDT on April 21

Solscan screenshot showing the trader sold 6,041.52 TRUMP for $84,087.42 in USDT on April 21

They had traded the Trump token a bit for the first few days after it launched in January, then apparently lost interest until suddenly rediscovering it on April 21.

At the moment they still hold 9,130 TRUMP, so as of now they’ll be joining Trump at the dinner in a few weeks.

They regularly transfer funds from Bybit, suggesting they are not based in the US.

Someone just spent $8 million on $TRUMP memecoins after the president announced that the top holders would be invited to join him at a private dinner at his DC golf club.

Solscan screenshot showing four purchases of a total of 655K TRUMP tokens for approximately $8 million

The purchases were funded by a Binance account, suggesting the wallet owner is not based in the US.

Trump’s Trump Media & Technology Group has just asked the US Securities and Exchange Commission to investigate and potentially pursue civil and criminal action against a short seller

To: Mark Uyeda, Acting Chairman, U.S. Securities and Exchange Commission
From: Trump Media & Technology Group

Date: April 17, 2025
Subject: Potential Illegal Naked Short Selling and Market Manipulation of DJT Stock

CC: Financial Industry Regulatory Authority (FINRA); Nasdaq; New York Stock Exchange

This letter serves to inform you of suspicious activity related to a disclosure filed in Germany by the U.K.-based hedge fund Qube Research & Technologies ("Qube"). The following data points raise critical questions about the timing and methods used in Qube's trading activities:

On April 10, 2025, Qube disclosed a nearly six-million share short position in Trump Media & Technology Group Corp ("TMTG") (NASDAQ, NYSE Texas: DJT). Thus, a U.K.-based entity, with a data center in Iceland, only disclosed these short sales in Germany.
According to Nasdaq, the total short interest in DJT as of March 31, 2025, was 10.7 million shares (see attached chart). Third party sources inform TMTG that the total short interest as of April 16, 2025, is virtually unchanged-approximately 11 million shares.
Neither Nasdaq, NYSE Texas, nor any other source has been able to confirm when the trades disclosed by Qube were conducted or if they were conducted at all.
The above factors, especially when combined with the history of suspicious trading surrounding DJT stock-including DJT appearing on Nasdaq's Regulation SHO Threshold Security List continuously for more than two months in 2024-could be indications of the illegal naked short selling of DJT shares.

We urge you to immediately investigate this suspicious trading and report your findings back to TMTG and any relevant civil and criminal authorities. American equities exchanges should be operated with full transparency and maximum efficiency, not as an opaque free-for-all reminiscent of a third-world casino.

The Trump administration is explicitly targeting libraries, museums, and the press in the latest executive order.

Also going after services for the homeless, minority businesses, and community development.

The cruelty is the point.

i) the Federal Mediation and Conciliation Service;
(ii) the United States Agency for Global Media;
(iii) the Woodrow Wilson International Center for Scholars in the Smithsonian Institution;
(iv) the Institute of Museum and Library Services;
(v) the United States Interagency Council on Homelessness;
(vi) the Community Development Financial Institutions Fund; and
(vii) the Minority Business Development Agency.

Eric Trump plainly admits that his father’s Sunday social media post about the “crypto strategic reserve” was intended to manipulate the crypto markets

I recently helped the New York Times with blockchain analysis for this story on the Trump memecoin, where more than 800,000 wallets lost money.

"The recent elections also feel like a cultural tipping point towards, once again, prioritising free speech," said Mark Zuckerberg.

Doublespeak.

As I wrote the other day:

Similar attacks on speech are becoming only more common throughout the American right, with president-elect Trump’s longstanding hostility to the media escalating at a rapid clip. In recent months, Trump has suggested he wouldn’t mind if reporters were shot,22 threatened to jail journalists, editors, and publishers who refuse to reveal confidential sources, threatened to investigate or pull broadcasting licenses for news organizations that reported on him unflatteringly,23 and filed SLAPP suits of his own against news publications and pollsters.24

Storm preparedness

My whole life, I've lived in New England: the land of blizzards and ice storms. When there's a storm on the forecast, we prepare. Stock up on bottled water and nonperishables, refill prescriptions that are running low, charge the flashlights and electronic devices, have a stack of blankets on hand, make sure there's fuel in the car and (if you're lucky) generator, restack the indoor wood pile.

Sometimes the forecasted storms uneventfully pass by, in which case you're left with a little extra food on hand, some jugs of water for the next storm, and some cozy blankets to snuggle up in.

Anyway, this has been a message to those choosing to mock people who are taking steps to prepare for a Trump presidency.

If the worst does not actually come to pass, I don't think I'm going to be sitting here going "oh noooo I can't believe I strengthened my communities, made sure I'm up to date on my healthcare needs, and volunteered for causes I believe in".

Marc Andreessen has donated another $2 million to Donald Trump. He's contributed $5.35 million this year (across several committees).

FEC report showing a $2 million contribution by Marc Andreessen to the Right For America PAC. Aggregate year-to-date contributions to this PAC are $4.5 million.

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