Of course Trump drops prosecution of crypto bro who gave him millions
Just a few months after investing $30 million in a company owned by President Donald Trump and his two eldest sons, cryptocurrency bro Justin Sun was rewarded with a decision by the Securities and Exchange Commission to drop its fraud case against him.
Nineteen days after Trump won the 2024 election, Sun, head of the crypto company TRON DAO, announced that he had invested $30 million in World Liberty Financial.
“The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump! TRON is committed to making America great again and leading innovation,” he wrote.
World Liberty Financial is a venture of the Trump family launched last year, run by Trump and his sons Don Jr. and Eric. Trump promoted the company in a post in September, proclaiming, “Crypto is one of those things we have to do. Whether we like it or not, I have to do it.”
In 2023, under the Biden administration, the SEC announced that it was charging Sun for fraud and other violations of federal securities law. The SEC alleged that Sun had been involved in the “unregistered offer and sale of crypto asset securities,” and also accused him of fraudulent market manipulation.
A group of celebrities were also charged as part of the scheme, including actress Lindsay Lohan, singer Akon, and boxer and influencer Jake Paul—who endorsed Trump last October.
The SEC decision following the financial contribution that directly benefited Trump highlights the ease with which he can be bought off. As he did in his first term, Trump has not adhered to traditional ethics guardrails in the presidency and has left himself open via multiple avenues to be bribed.
Democrats have proposed legislation meant to curb abuses like Trump’s, putting into law what had once been bipartisan tradition. The Modern Emoluments and Malfeasance Enforcement Act, introduced by California Rep. Sam Liccardo, would prohibit federal officeholders and their families from selling and promoting cryptocurrency that would be to their financial benefit.
Trump’s decision to drop this crypto case follows in the footsteps of other actions he has taken demonstrating a weakness on crime issues. The administration has advocated for misogynist Andrew Tate, who has been accused of rape and sex trafficking, and Trump issued pardons for his supporters who attacked the U.S. Capitol on Jan. 6.
Trump has portrayed himself for years as being in favor of “law and order,” but for just a few million he now appears willing to drop the pursuit of justice.
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