Breaking News from Pod Save America - Trump's New Crypto Scam Should Be A MASSIVE SCANDAL

Episode Date: September 2, 2025

As more Americans lose faith in the promise that hard work leads to real economic gains, Donald Trump launches a new crypto scam — raking in billions. Jon Favreau and Jon Lovett explain why Trump’s latest scheme should be a massive scandal. Learn more about your ad choices. Visit megaphone.fm/adchoices

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Wall Street was closed today for the Labor Day holiday, but it was a big day for the crypto market with the launch of the Trump family's digital token. Traders could buy and trade some of the cryptocurrency issued by World Liberty Financial, which was co-founded by Trump's sons, Eric and Don Jr., among others. Eric promoted the token as recently as Friday at a Bitcoin conference in Hong Kong.

Today's launch reportedly means a windfall of billions of dollars for the family, the White House has often denied any conflict of interest for the president. Good day for the Trumps. Who's talking about the American, what do you mean the American dream is dead? This is the American dream right here. It's access for everybody. You just trust the Trumps, put your money with them.

So the New York Times reports on after the first day of trading, it says it had a tepid first day of open market trading, surging. value initially before losing most of the gains. And then here's the key. But because of an unusual insider arrangement, the Trump family was still assured a considerable payday as its expanding universe of crypto ventures continue to break norms for business dealings by presidential families. So my understanding of it is that basically if you got in, if you bought it in the private market from World Liberty, it was at 1.5 cents. So everyone, including the Trumps, whether it went to 30 or 20,

the Times can help their readers feel better about the world by putting the word tepid there to kind of coddle them into understanding this level of corruption. But like, if they sell any part of their holdings, which they are allowed to do and may have already done, they make vast amounts of money from this already. Well, because there's a, the insider, and this is very complicated to understand,

I don't quite know if I fully understand it, but the reason that they're profiting so much, one reason that they're profiting so much, even as the price, of the value of the coin might fall, right, is because it's an arrangement with a relatively unknown NASDAG traded company called Alt-5 Sigma Corporation. Alt-5 is based in Vegas, of course. And guess who's the chairman?

Zach Whitkoff. Right. Wick-Coff. You guys remember Steve Whitkoff. He's solving all the wars. He's known for his great work in Gaza and Ukraine. Yeah. Did he Wiccoff gave a quote to the Wall Street Journal, I believe, that said, this is

politics we're not in politics but don't Trump is the greatest president of all time yes and so and so Wickhoff's the chairman Eric Trump's on the board and basically the company then said they're gonna this company alt 5 to say they're gonna use their 1.5 billion that they raised

to buy world liberty tokens fantastic fantastic and this is what allowed the Trump family to profit from world liberties less than impressive launch this is so this is like just a straight up fucking scam Yeah, I mean, well, right.

So like, I don't even even want to try to entertain defending what they even mean by conflict of interest. But like there, the Trump has fully changed course on crypto. He figured out somewhere in the between losing in 2020 and winning in 2024. There's a lot of money in it for him. He used to make fun of it. Now he embraces it. Don Jr. When launching this world liberty coin on the market said, this isn't some mean coin.

They have those. They also separately have those. Yeah, they know they also have those. They have the Trump coin. They have the Melania coin. So they're doing that too. Yes. This is where the big bucks come in.

I mean, this is now worth more than any of their, on paper at least, worth more than any of their real estate holdings. This is up to $5 billion they have made. It just keeps getting better in this piece, too. To help prop up the trading price, one major World Liberty Financial token holder, Justin's son, announced on day that he had no immediate plans to sell his tokens, Mr. Sun had been targeted by securities investigators during the Biden administration, only to see his case frozen once Mr. Trump returned to office. Isn't that wild? This is the Binance guy. Yeah, they did that favor for Justin's son. And now he's holding on to all of his tokens that he bought to keep the price going, to prop up

that price. I'm going to paraphrase this, but I believe when there was that Trump crypto dinner, he made some point that I think he thought was laudatory, but it was something like, look, the fact that I'm here just tells you about the promise of America. Trump has been quiet about the launch of the trade, the launching launch on Monday. He was at his golf club in Virginia.

Well, that's because he died of his stroke on Friday. Yeah. You know how online I am. I miss this whole thing. But I was getting texts from random people who were like, anything to this, not random people, sorry, my close friends that are just not,

political junkies like us. They're saying, is there anything to this, this Trump dying? I'm like, what are you talking about? So I saw this start boiling on Friday. It was a Friday. And then I started getting the messages too. Like, are you hearing anything? Is there any?

And I just kept responding to everybody. Not you too. Like, no, guys. Hey, I don't know. He took three days off. I don't think Trump is. Before the long holiday. I don't think Trump is hail and hearty.

And I'm sure he has on things that they're not telling us about what it's like to be in the body of a deeply unhealthy 78-year-old man. But if something terrible is happening to Trump, we're not going to find out through meme accounts on X and like whispers and hints. Like, we will know. Like, there were accounts last night being like, all the roads to Walter Reed are closed. No.

It's like, okay. What was happening on Blue Sky? I can't even imagine. I can't even want to know. Wear a mask. When Trump dies, wear a mask at the rally. Who among us hasn't piggyback? a few extra days on a long weekend anyway.

For sure. Clearly what happened. He had Labor Day weekend off and he decided Wednesday, Thursday, Friday. He was going to add a couple more days there. Look, he's been working hard. Yeah, and look, and there is something strange happening with the bruises on his hands. But again, I don't think that means he's secretly stroking out. I think that means he just, he's probably lost his hands.

Now, in response to all this crypto-grift, a great patriot, maybe some are saying the greatest patriot in the country is responding in kind. You know, we're about to put a mean coin out. And you know what, Donald Trump? We'll see how well your coin does versus our coin. I mean, we're just trying to turn up the heat and trying to tune people into the absurdity. Is it going to be called Gavin Coin? No, it's, I think, Trump Corruption Coin.

Oh, okay. This is one of the great grifters of our time. This is just jaw-dropping. And none of this is normal. Again, none of this is funny. I mean, it's funny in one respect, but it's like, it's extraordinary. what's going on. It's jaw-dropping. His family is sent out before these foreign trips doing deals. Deals are literally done before tariffs are imposed. The crony capitalism that's going on.

The people that are selling their souls in this country. The fact that you saw there, these guys bloviating at that. I mean, that was insanity yesterday at the cabinet meeting. And Lutnik, talking about socializing and nationalizing companies like Lockheed. I mean, This is, and you're worried about Mendani and some grocery stores. And these guys are taking tithings from AMD, 15% from Nvidia. I mean, this is serious stuff. Kara's reaction, which was very subtle and almost imperceptible, just 10 out of 10. Kara, what I love about whenever Kara is interviewing literally anyone,

she can be interviewing the Pope. And she's just like, all right, let's go. What's the news? What are you saying? What are you saying? And she just, she's so fast. He's like, it's not funny. You're being funny.

I think they could beat the name Trump Corruption Coin. Yeah, it needs to be quicker. But it is a like, it is joke about it. But Steve Wickoff's son, Wiccoff is his envoy to the world, and his son is part of this with Eric and Don. And like it's the, you know, we talked about this on the, on Friday's pod that,

why is Trump being so quiet about China when he promised to be a hawk on China? And this is maybe a strange connection, but did you see the story of the weekend that Rudy Giuliani was in some kind of a car accident. You mean future Medal of Freedom recipient? Rudy Giuliani announced right after the accident. And there was a statement from his private security

that he had been rendering aid to a woman and then got hit. Yeah, she was facing a domestic abuse situation. So he was driving in New Hampshire as he does at night in New Hampshire. Always Rudy Giuliani just driving around in New Hampshire at night, pulled over to the side of the road to help this woman, stayed with her until she was given assistance, got back in the car, and then was hit from behind?

And so the, see, the, it seems to be, there will be no more statements at this time. There will be no more statements at this time. And so what, first of all you see, they're like, what the fuck are you talking about? When someone has a car accident, you don't release a statement talking about what they did before because you think it's like good for their story.

Like, it's, it all reads really strange. And had this like, he had a good dinner, a pretty decent bowel movement. He had one drink at the bar and then he hit the road. Yeah, right. But, but, and then saves a couple of public. puppies and then got rear-ended. And I read this.

I was like, I don't know what's true here. I don't believe this. Could be true. No fucking idea. It doesn't sound very plausible for a New Hampshire evening for Rudy Giuliani. But then I was like, wow, you know, what we, the first part of the Trump era is people can find out the truth, but they don't know enough to care. They don't care. It doesn't reach enough people. But we're getting to the point with these coins with like the fact that the police in some cases, like feel co-opted. I certainly is.

that's like, will we ever know what happened? Right? Like, when Trump is soft on China, will we ever know whether or not there was some deal behind the scenes? Will we ever know about whether or not there was some corrupt bargain made beforehand? We'll just never know. Yeah, well, so much of the corruption has been like, I wouldn't say commonplace, but, you know, it's like, oh, it's Trump.

He's a guy who, you know, he's a business. He does some deals. A lot of them are probably shady. Everyone knew that when they were getting into it. This is like another level of corruption, making yourself and your family five billion. dollars basically based on regardless of whether even the coin does well, the token

does well, right? Which like, who the fuck, even that is sort of shady and built on very little. Let's say speculative, to be generous. But now the reason that you're getting rich is because there was another company that you bought the coin and that the

guy that you dropped the investigation into, he's buying up a bunch of coins, so now you're all just making money. And then Eric Trump's out there and he's like, you know, there's other things like, oh, this is, this is where people are going to, their retirement, this is going to replace their 401ks, they're going to be so, this is going to help so many people. No, what are you talking about? And just the, like, I was thinking about, like, we're going to look back on this. And it's going to be, so you have the international corruption.

I hope we're around to look back on. Well, yeah, one hopes. Look, yeah, if there are people looking back. But like, you have Trump, you have, you have, you have Trump's sons and going around the world making these deals that are tied into the tariffs. You have this corrupt bargain. with the crypto industry, that they'll be protected and they won't be regulated and he'll make money over here. And it is fundamentally new, not just for, I mean, I guess it's very old in the sense that it's like what Kings used to do, but it's very new for a democracy. It's very

new for us. And it's like the intersection of this new technology of like the blockchain being co-opted by this corrupt, like fascist regime. Like I do think part of why even Newsom is struggling to find the words is like, this is new. Like this is a like a fundamentally new phenomenon for I'll just end on Newsom, which is I saw that he teased that at when he's being interviewed by Politico last week. I couldn't tell if he was joking or not because he's like, it's going to show up in my Patriot store with all my other merch, which is very funny. And then it seems more serious when he was talking to Kara, but I'm like, I don't know how this works, his coin. But is it possible for him to like use the proceeds of the coin to like, I don't know, fund the redistricting campaign or maybe donate to some other good cause? That would be cool.

Right, he can't just stand up a Trump corruption coin. No, and of course. And I don't think, I can't imagine he would want to do that. But I'm just wondering, I'm very curious. I want to know more about the Gavin coin. Right, like, where are the receipt? Where's the money going? Yeah.

Who's benefiting from this? But then it's funny, but the point that you just made is like, is it just a troll? Is it more than a troll? Is it both a troll and something real? No one knows anymore. Yeah. Thoughts and prayers with Rudy. Everyone subscribe to this channel.

This is real. Potsave America YouTube channel. This is real. That's for fucking sure. Yeah, you subscribe to this channel. And, you know, with every new subscriber, Elijah makes a dollar. That's right. Yeah.

Or he gets, actually, with every new subscriber, Elijah gets, we're a Liberty Financial token. Wow, we're going to play them in USD1s. Thanks, everyone.