Legal AF by MeidasTouch - Trump Suckers Investors With New Billion Dollar Con

Episode Date: May 30, 2025

Trump and his Commerce Secretary’s family are about to launch a new crypto grift in advance of this week’s Vegas Crypto conference, with each raising several billion dollars from poor investor suckers to use their money to buy billions more of crypto currency to shore up their sagging balance sheets. Michael Popok puts on his Wall Street hat to expose another suckers bet launched by Trump this week, part of his scheme to double his net worth since January. Which begs the question: Have you “doubled your bank account” or net worth under Trump since January? Moink: Sign up at https://MoinkBox.com/LEGALAF right now and listeners of this show get FREE WINGS for life! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af MissTrial: https://meidasnews.com/tag/miss-trial The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Coalition of the Sane: https://meidasnews.com/tag/coalition-of-the-sane Learn more about your ad choices. Visit megaphone.fm/adchoices

When does fast grocery delivery through Instacart matter most? When your famous grainy mustard potato salad isn't so famous without the grainy mustard. When the barbecue's lit, but there's nothing to grill. When the in-laws decide that, actually, they will stay for dinner. Instacart has all your groceries covered this summer, so download the app and get delivery in as fast as 60 minutes. Plus enjoy zero dollar delivery fees on your first three orders. Service fees exclusions and terms apply. Instacart. Groceries that over-deliver. This podcast is sponsored by R.A.M.P. Look,

there's feelings and then there's the facts. If you're feeling like your finance team is bogged down in mundane manual tasks, the fact is you need R.A.M.P. R.A.M.P. is the corporate card that makes the expense process fast and easy. The moment your team makes a purchase, R.A. need RAMP. RAMP is the corporate card that makes the expense process fast and easy. The moment your team makes a purchase, RAMP handles everything. Receipt collection and approvals, the works. With RAMP, you can cut your month-end clothes from 5 days to 1, customize approval workflows, and get complete control over every transaction. Facts.

Over 25,000 businesses trust RAMP, including Shopify and the Boys and Girls Club of America. Which is why they were just named number one in spend management by G2. Facts. Start using R.A.M.P. and you'll have more time to spend scaling your business. And that'll feel really good. Upgrade to R.A.M.P. for free today and get $250 at R.A.M.P. dot com. That's R.A.M.P. dot com. R-A-M-P dot com. Currents issued by Sutton Bank members of DIC Terms and Conditions

apply. Tension shoppers, we've got another crypto scandal, a potential stock fraud by Donald J. Trump. This time, a new announcement or at least a some insider information reported to Financial Times that indicates that Donald Trump and his company, Truth Social, is about to launch a $3 billion capital raise through a secondary offering in which they will use the $3 billion to do what?

To invest in infrastructure, to buy media projects, to shore up perhaps Truth or Truth Social, nope, to buy media projects, to shore up perhaps truth or truth social. No, to buy an asset. In this case, to buy crypto, to buy $3 billion worth of cryptocurrency. Listen, cryptocurrency has gone sky high, including Bitcoin, which has now reached $190,000 a coin, ever since Donald Trump's been president.

He's announced that he's going to use his presidency as a printing press to print money using cryptocurrency as the method. He's gonna lie in his pockets and he's done it in a number of ways. This is a new way. I've reported in the past about his using World Liberty Financial, WLF,

a company owned entity, along with Steve Witkoff, who runs around as our de facto Secretary of State, in order to provide a liquidity source to create a market for the buy and the sell of cryptocurrency. It is through World Liberty Finance, for instance, that the government of Abu Dhabi is about to make

an investment into that other stock fraudster by the Securities and Exchange Commission, Binance, of several billion dollars using the World Liberty Financial Platform as its basis and using stablecoin, which is sort of tied to the US dollar as opposed to being a free-floating cryptocurrency like a Bitcoin, to make the investment, all shepherded by a small inner circle,

inner sanctum of interlocking people between Donald Trump and Donald Trump's family, the cabinet in Donald Trump's family. You know who's making a lot of money right now in cryptocurrency? Our Commerce Secretary's family. And our Commerce Secretary, Howard Lutnick, his family, just announced this week alone,

they want to get in on the act too. So his son, Brandon Lutnick, formerly a disc jockey, who now apparently runs the company pursuant to a trust, he just announced that they're going to get into a large crypto deal. They're going to create a special purpose acquisition company, a SPAC, publicly traded, blank check company if you will,

really not regulated that much. And they're gonna try to raise a $3.6 billion to do what? To make an investment in some sort of vehicle? No, to buy Bitcoin. That's all the rage now. You don't actually have to have a going concern. You don't have to have a underlying company. You just buy Bitcoin and you ride out Bitcoin

and that helps the enterprise value of your company. Now where does the stock fraud come in? With Donald Trump. I looked high and low in all the securities filings. I mentioned I'm on the Midas Touch Network and I'm Michael Popak. If I haven't, I'm sorry. It's been a very long week as most of you know,

but I am on the Midas Touch Network and legal I haven't, I'm sorry. It's been a very long week, as most of you know, but I am on the Midas Touch Network and Legal AF, and I am Michael Popak. So I looked high and low in all the securities filings for Donald Trump's company. See, when you're a publicly traded company and you want to get access to public dollars and you want to have people invest in you, you got to be regulated by

the Securities and Exchange Commission. Unfortunately, right now, the Securities and Exchange Commission is led by a puppet, a meat puppet, if you will, selected by Donald Trump, who's pro crypto. The whole of the cabinet is pro crypto. They got rid of their cryptocurrency investigation unit at the Department of Justice. Why do you need that? You don't have a president that's going to go after it.

You have a president through various ways I'm going to outline again here. He's using cryptocurrency for the largest swindle in American presidential history. This is a new one. So, I looked high and low in the Securities and Exchange Commission filings, which you are required to do, whether it's the 8K or the 10Q or anything else. And you look to see who you are, what you've announced yourself to be, and what business you're in, because people invest in a company when they sort of understand what your business

model is. Nowhere in there was there any reflection that Donald Trump would take his company into the cryptocurrency business, and that they would use your dollars to buy a Bitcoin. Why don't you just use your own dollars to buy Bitcoin? What do you need Donald Trump to do it for you? Now Trump turned over his $3 billion of,

I think it's up to about $5 billion now, of shares in DJT and turned it over to a trust that's run by his son, Don Jr., you know, Fredo number one. And so, but if you think he's not having regular conversations with Don Jr., I got a bridge to sell you in Brooklyn. They're making this announcement that they're going to with a road show that they're about to try to raise $3 billion worth of your and my money in a secondary offering before a huge Las Vegas crypto conference that starts this week that's

going to be attended by wait till you see the interlocking overlapping people here, Don Jr, the crypto czar, David Sachs for the Trump administration, and JD Vance because he's got nothing better to do. You know, he kisses babies and he does ribbon cutting and car washes, and he goes to Greenland, things like that. So now he's gonna go to this Las Vegas huge crypto conference because the, I mean, I'd be okay if the Trump administration

was in favor of crypto deregulation to help the average American, but not to if the Trump administration was in favor of crypto deregulation to help the average American, but not to help the Trump family. The only reason he's getting into hard and doubling down and tripling down on crypto and cryptocurrency and other types of digital assets is because his administration is promoting policies that benefit that industry. So I looked high and low in all the securities filings. I don't see any mention that they're going to get into the crypto business.

So I think already they're using dollars and new dollars that are inappropriate and would normally be investigated by the Securities and Exchange Commission, but who's going to investigate it when it's all under the thumb and control of Donald Trump? Now the new offering is not out yet. And when they got caught in the act of putting together the package and apparently increasing, they already know there's tremendous demand and more demand for crypto out coming off that dinner

just a couple of days ago in Virginia in which they raised Donald Trump earn another $3 million in his pocket by meeting with 250 or so of the leading holders of his meme coin which he makes the market for. He doesn't care about the stock price or the meme coin price. He just cares about the volume, the buy and the sell because he makes a big commission on the buy and the sell. So he shows up at this dinner. He's okay everybody, thank you very much. Glad to

hear him at the dinner. Should have worn tuxedo, I don't know, okay. So he's got that going on. He's got the Vegas conference going on. We're gonna rock in a hard place now. Four companies control over 80% of the US meat industry. And China now controls the largest portion of US pork. And wait till you hear this. Over 80% of the antibiotics in the US are fed to animals.

So what can we do about this? Let me tell you about a company that's coming up swinging on behalf of American Family Farms and your family's food security, Moink. The business is simple. Moink's meat comes from animals raised outdoors, where a pig is free to be a pig. Their farmers are given an honest day's pay for an honest day's work, and they deliver meat straight to your doorstep at prices you can actually afford. Support American Family Farms and join the Moink movement today at moinkbox.com slash legal AF. Right now and get free wings for life.

They're the best wings you'll ever taste for free, but for a limited time. Spelled M-O-I-N-K, box.com slash legal AF. That's moinkbox.com slash legal AF. Now Donald Trump has doubled down on meme so hard that he's got two meme coins that he's selling. He's the market maker for the meme coins, so he's getting the commission on all the volumes and the buy and the sell. He owns World Liberty Financial with his sons, apparently not his daughters, which is making

a lot of money in cryptocurrency and in stablecoin. In addition to that, he's got a stake through Don Jr. in an American based crypto mining company, because you have to make these digital assets. You've got to use server farms and data servers and use a tremendous amount of electricity and power and water. That's why it's an ecological disaster to do crypto.

And you do that, but you need to mine it. You need to have the software and the algorithms and the rigs in order to generate a Bitcoin off a mathematical formula and algorithm. That's how they're created. So he owns the mining, he owns the marketplace through World Liberty Finance He owns mean coins themselves, which are owned primarily by foreign investors

Because he's doing influence peddling and now because his company and its business model is terrible for truth social He's got nobody on the platform And we've got more people on the Midas Touch network than they have in their entirety of Truth Social. All the other things like, oh, we're going to do TV on Roku on demand. Yeah, that's not working. So he said, I better just take not my money, I'm going to take your money because I'm going to sell new stock in a secondary offering, meaning new buy and sell. And he's going to expand the value of the company.

The enterprise value, it's remarkable, the truth social that has no track record whatsoever, is up to about $6 billion. So is Donald Trump's personal net worth. It's the highest that Fortune or Forbes has ever rated Donald Trump. That's just since the new year, since he was elected president. He's doubled his or tripled his family fortune.

Have you? Put it in comments. Have you? Look at your bank account. Is it triple what it was in January or is it half? Look at your retirement funds or assets if you have any. Have they tripled or have they halved? Look at your Social Security benefits, Medicare, Medicaid, disability. Have they tripled or are you barely holding on? So it's with great disgust that I got to report these things, but I got to report these things. So this is the way that Donald Trump is perpetrating the greatest heist in plain sight in American history. But we got to keep talking about it. We got to keep talking about the $3 billion

he's about to raise of other people's money in order to invest in cryptocurrency, in order to feather his own nest. Now when they reached out to the Trump media, Truth Social, DJT, for a comment, they just said, financial times has a bunch of dumb writers writing dumb stuff. That's almost a direct quote. This is how they talk to the media. This is how they talk down to

you and me. Earlier today on Memorial Day, Donald Trump talked about how Americans are scum. I mean, he said Democrats, but I mean, Democrats are Americans. He was elected to represent the entirety of the American electorate, all 330 million plus people. Not the people that he got him elected, not the MAGA MAGA right. So he called other Americans and patriots scum. That's his word, not mine. We got to make him pay for that. We got to make him pay for that. We got to pay him back for that.

We're biting our tongue and biting our time now. But the midterms in 2026 are a different story. Remember the hundreds of millions up to over billions of dollars that Donald Trump is going to earn in his various different scams and schemes and three card money related to meme coins, related to Bitcoin, related to cryptocurrency, the platform, the mining, the sales. There's a reason I got to announce this in between the big, why is the vice president

of the United States going to the crypto conference? Why is our commerce secretary, why is his companies heavily invested and about to do a parallel on a parallel announcement of trying to raise several billion dollars for the market for its own cryptocurrency purchase? What do they know that we don't know? What do they have that we don't have? Money, finances, cryptocurrency, and access to it and access to the guy that's setting the policy.

That's the problem. We'll continue to follow it all right here. You're on the MidasTouch network. I got a couple of asks here. Hit the subscribe button for MidasTouch, help them get to 5 million. Come over to Legal AF, the YouTube channel that I curate. I've got more than a dozen contributors there with me now to be one stop shopping for all things law and politics.

Come on over. We just added in the last month, on one hand, we've got our in-house resident historians putting everything that Trump does, all his rogue and lawless actions, in context, historical context. We've got Sidney Blumenthal, we've got Sean Wilentz, and their guests in a playlist we call Court of History. We've also just added in the last 48 hours Asha Ragappa and Renato Mariotti. And they have a show they call It's Complicated. Both former FBI agents, one is a prosecutor, former prosecutor and a commercial litigator or white collar litigator and the other, Asha, is on faculty or staff at Yale in national security issues. They come together with it. It's complicated. Join us there. It's not complicated. It's easy. Legal AF,

hit the subscribe button. We've got a beautiful substack that's just for you. Can nerd out on all things law and politics. We got the Supreme Court opinions there under SCOTUS AF. We've got the law filings that you want to know about and read yourself under Filings AF. We got my morning briefing under wait for it, Mornings AF. You see the pattern here? The only thing missing is you, all free. Come on over and hit the subscribe button. Until my next reporting, I'm Michael Popo. including a daily roundup that I do call, wait for it, Morning AF. What else? All the other contributors from Legal AF are there as well. We've got some new reporting, we got interviews, we got ad-free versions of the podcast and hot takes. Wear Legal AF on Substack. Come over now to free subscribe.