Welcome home, fellow Gator.

The Gator Nation's oldest and most active insider community
Join today!
  1. Hi there... Can you please quickly check to make sure your email address is up to date here? Just in case we need to reach out to you or you lose your password. Muchero thanks!

Trump launched a “crypto platform” called The DeFiant Ones

Discussion in 'Too Hot for Swamp Gas' started by WarDamnGator, Sep 3, 2024.

  1. BigCypressGator1981

    BigCypressGator1981 GC Hall of Fame

    6,707
    1,374
    3,103
    Oct 11, 2011
    Imagine how dumb you have to be to invest in this.
     
    • Agree Agree x 2
  2. WarDamnGator

    WarDamnGator GC Hall of Fame

    10,853
    1,358
    1,718
    Apr 8, 2007
    It also sounds like they are just trying to build a crypto exchange, which there are already at least 500 operating…
     
  3. WarDamnGator

    WarDamnGator GC Hall of Fame

    10,853
    1,358
    1,718
    Apr 8, 2007
    Some info about the tech genius behind this…. It’s apparently just a rebranding of their last project, which failed and was hacked for 2 million….

    The pair spearheading the project – Zak Folkman and Chase Herro – are not well-known in the crypto world. CoinDesk previously reported that the duo was responsible for Dough Finance, a DeFi product that failed to gain traction and was hacked for $2 million over the summer.

    The pitch outlined in World Liberty Financial's white paper closely resembles that of Dough. Both platforms are modeled as user-friendly interfaces for accessing Aave, a popular Ethereum-based lending market, and some of the early code for the Trump-backed crypto app appears to have been lifted directly from Herro and Folkman's older project.

    Outside of crypto, Folkman and Herro are the founders of Subify, a censorship-free subscription platform similar to OnlyFans that is best known for its association with the influencer Logan Paul.

    Folkman, who registered the LLC for World Liberty Financial, used to deliver seminars advising men on how to pick up women. According to a Bloomberg report published last week, Herro has promoted himself as the "dirtbag of the internet" and has promoted failed cryptocurrencies, colon cleanses and get-rich-quick classes
    .

    Trump's Crypto Gambit: What We Know About the Launch of World Liberty Financial

    BTW, when a failing crypto project get “hacked”, and since it’s mostly untraceable, some people wonder if it was really was hacked, or just the insiders cashing out….
     
    • Informative Informative x 2
  4. mdgator05

    mdgator05 Premium Member

    16,249
    2,097
    1,718
    Dec 9, 2010
    It is interesting that Trump seems to be going back to his 2000s-2010s business model (any white collar criminal that wants to juice their "business" can license his name and put it on their scam).
     
    • Agree Agree x 1
  5. VAg8r1

    VAg8r1 GC Hall of Fame

    21,446
    1,787
    1,763
    Apr 8, 2007
    I understand that if Trump is elected he will issue an immediate pardon for Sam Bankman-Fried and offer him a partnership with Eric and Don Jr. considering that Bankman-Fried has considerable experience running a crypto exchange not to mention that he has also demonstrated that he has the ethics of a member of the Trump crime family.
    Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud
    NEW YORK, March 28 (Reuters) - Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind's dramatic downfall.
    U.S. District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing after rejecting Bankman-Fried's claim that FTX customers did not actually lose money and finding that he lied during his trial testimony. A jury found Bankman-Fried, 32, guilty on Nov. 2 on seven fraud and conspiracy counts stemming from FTX's 2022 collapse in what prosecutors have called one of the biggest financial frauds in U.S. history.
     
    Last edited: Sep 18, 2024
  6. G8trGr8t

    G8trGr8t Premium Member

    32,473
    12,165
    3,693
    Aug 26, 2008
    Major judicial shift is what got done
     
  7. citygator

    citygator VIP Member

    12,035
    2,629
    3,303
    Apr 3, 2007
    Charlotte
    This was very important with 50 days till the election

     
  8. gator_jo

    gator_jo GC Hall of Fame

    1,848
    242
    193
    Aug 9, 2024
    It's a much better vehicle for bribery directed to Trump from investors. Perfect for that, in fact.
     
    • Agree Agree x 1
  9. citygator

    citygator VIP Member

    12,035
    2,629
    3,303
    Apr 3, 2007
    Charlotte
    Daily show with a solid summary.

     
    • Funny Funny x 2
    • Best Post Ever Best Post Ever x 1
  10. GatorJMDZ

    GatorJMDZ gatorjack VIP Member

    25,396
    2,703
    1,868
    Apr 3, 2007
    Meet the masterminds behind Trump's latest endeavor. One went to prison on drug charges for 3.5 years, the other's call to fame was lecturing on how to pick up hotter women.

    And, shades of Hunter Biden, Baron Trump is listed as a "decentralized finance visionary."

    Language warning:
     
  11. chemgator

    chemgator GC Hall of Fame

    13,816
    1,958
    1,318
    Apr 3, 2007
    I was right, except that the Defiant One-dollar coin is not worth $1.00--it's a commemorative coin with no known cash value. It also doesn't say whether the coin needs a magnifying glass to see, or is flash-plated with silver or is just covered in silver paint. Needless to say, it will soon be lost in your couch cushions.

    No cents of shame: Trump unveils new commemorative coin for $100 in latest merchandise grab

     
  12. GatorJMDZ

    GatorJMDZ gatorjack VIP Member

    25,396
    2,703
    1,868
    Apr 3, 2007

    In the description on the website where you actially order these things:

    "RealTrumpCoins.com is proud to produce the only and official silver designed by President Donald J. Trump. This is a 1oz .999% silver medallion and struck with a proof finish featuring our 45th President’s profile on the obverse and the White House on the reverse."

    Doesn't that mean slightly less than 1% pure?

    President Trump First Edition Silver Medallion
     
    • Funny Funny x 1
    • Informative Informative x 1
  13. WarDamnGator

    WarDamnGator GC Hall of Fame

    10,853
    1,358
    1,718
    Apr 8, 2007
    Good catch… wonder if that’s a misprint or admission it’s plated. silver is about $31 a ounce, so even if it’s pure 1 ounce, it’s still a 300% mark up, at 0.999% pure, it’s a 30,000% mark up…
     
  14. BLING

    BLING GC Hall of Fame

    8,948
    882
    2,843
    Apr 16, 2007
    Indeed. Real minted bullion coins are 99.9% pure silver or gold. Could be a typo (needs to be either .999 pure or 99.9% pure), but would anyone be surprised if this guy was peddling fake junk? A lot of the “collectible” coins sold to Fox morons are fake (non bullion), but even those goldline coins I don’t think described themselves as 1oz .999% pure gold (which like you say is <1% and not pure gold at all).

    Either way if it’s a typo it’s a ripoff based on price but maybe at least real bullion coin. If it’s intentionally typed that way to mislead then it’s worse than mere “ripoff”, instead would be more like blatant scam.
     
    Last edited: Sep 22, 2024
  15. obgator

    obgator GC Hall of Fame

    1,803
    1,346
    2,103
    Apr 3, 2007
    Does he know anything about crypto, finance or just about anything in life other than lying and grifting?
     
    • Winner Winner x 1
  16. gator_jo

    gator_jo GC Hall of Fame

    1,848
    242
    193
    Aug 9, 2024
    Can anyone imagine being a grown adult, hearing that bulls***, and cheering?

    Hilarious.
     
    • Fistbump/Thanks! Fistbump/Thanks! x 1
  17. ursidman

    ursidman VIP Member

    14,351
    22,649
    3,348
    Sep 27, 2007
    Bug Tussle NC
    Last edited: Sep 23, 2024
    • Funny Funny x 1
  18. channingcrowderhungry

    channingcrowderhungry Premium Member

    9,249
    2,083
    3,013
    Apr 3, 2007
    Bottom of a pint glass
    Trump literally has no idea what crypto is or how it works.


    “Who knows, maybe we’ll pay off our $35 trillion dollar [national debt], hand them a little crypto check, right? We’ll hand them a little Bitcoin and wipe away our $35 trillion.”
     
    • Funny Funny x 1
  19. obgator

    obgator GC Hall of Fame

    1,803
    1,346
    2,103
    Apr 3, 2007
    Can a mortgage be paid off like that? Asking for a friend.
     
    • Like Like x 1
  20. channingcrowderhungry

    channingcrowderhungry Premium Member

    9,249
    2,083
    3,013
    Apr 3, 2007
    Bottom of a pint glass
    I'll ask my bank if they'll accept a crypto check and report back to you
     
    • Fistbump/Thanks! Fistbump/Thanks! x 1