The Dictatorship
As family crypto schemes falter, Trump meets again with meme coin investors
For the second time in a year, President Donald Trump met with cryptocurrency investors who have poured money into his beleaguered and brazenly unethical meme coin scheme.
At an event on Saturday marketed as the “most exclusive crypto and business conference in the world,” Trump addressed the 297 largest investors in his self-enriching, eponymous digital currency at his Mar-a-Lago estate in Florida. That the president squeezed in some crypto-related hype ahead of his appearance at the White House Correspondents’ Dinner that night shows the extent to which Trump has prioritized money-making crypto ventures in his second term.
Ahead of Saturday’s conference, Ars Technica reported on the issues swirling around Trump’s meme coin, including suspicions of insider trading and a 93% drop in value from last year that’s led to billions of dollars in investor losses.
Saturday’s event featured notable Trump supporters, such as scandal-plagued boxer Mike Tyson and scandal-plagued motivational speaker Tony RobbinsThe Wall Street Journal noted.
The White House told the Journal Trump attended the event at his estate in “his personal capacity.” While pointing to a past White House statement that “neither the president nor his family have ever engaged, or will ever engage, in conflicts of interest,” the Journal reported Trump discussed political matters with this exclusive audience of attendees:
In a wide-ranging address from his Mar-a-Lago resort, Trump touched on everything from the Iran war and his crypto friendly policies to the future of artificial intelligence and a recent rally in the shares of Intel, the chip maker in which the U.S. government invested.
The Journal said attendees received “commemorative items such as Trump fragrances, posters, trading cards and watches.” The tradeoff for investors seemed to be that they throw down some cash for some almost worthless crypto ($TRUMP was trading at $2.59 during the event, according to the Journal), and in return they gain access to the president and perhaps some insight into his destructive war with Iran or his thinking about crypto and artificial intelligence policies. And trading cards and posters, like you would find inside a cereal box.
When Trump hosted a similar event last May for investors in his meme coin, ethics activist Noah Bookbinder told MS NOW the event took Trump’s efforts to profit off the presidency to a “whole new level.” And yet, as Sen. Richard Blumenthal, D-Conn., noted in a recent Politico interviewTrump’s cryptocurrency investments seem to have been normalized to much of the American public.
It’s worth considering how things might have played out differently if the roles had been reversed and a Democratic president were engaging in this kind of shameless self-enrichment. Imagine if Barack Obama, while president, had hosted a ritzy gala for people who had personally handed him duffle bags of cash to invest in what he was billing as his “magic bean” business. “Barry’s Bean Scheme” would have been the top story on Fox News and other conservative outlets for months, perhaps years on end.
Yet there’s no such outrage on the right over Trump’s second gala in a year to flog his crypto venture.
Ja’han Jones is an MS NOW opinion blogger. He previously wrote The ReidOut Blog.
The Dictatorship
Trump wants a Supreme Court do-over on birthright citizenship, but he won’t get one
For months, Donald Trump made clear that he expected the Supreme Court to rule against him on birthright citizenship, and his expectations were correct: Last week, a narrow majority of the high court ruled that the Constitution’s 14th Amendment means what it says.
Hours after the decision came down, the president downplayed the importance of his defeat, saying that he would pursue a legislative solution through Congress, but eight days later, the Republican published a very different kind of message to his social media platform that approached the issue in a more hysterical way. The missive read, in its entirety:
Signs and Billboards are being put up all over our Southern Border, and Mexico, advertising BIRTHRIGHT CITIZENSHIP, with “Deliveries starting at $4000.” Likewise, similar signs going up all over our Country. Billions of Dollars will be illegally made by this SCAM, with Citizenship going to anyone willing to pay. It will be, by far, the number one way of becoming a citizen, and then the entire family will be allowed to follow. Not sustainable.
NOBODY SAW THIS COMING!!! AMERICAN CITIZENSHIP IS NOT FOR SALE! In fact, that is a crime, and therefore, the Supreme Court’s ruling is wrong. I will be asking for a Rehearing by the United States Supreme Court, IMMEDIATELY. This miscarriage of justice will destroy America if they don’t change their absolutely insane decision. Thank you for your attention to this matter!
Even by Trump standards, this one’s a doozy.
The New York Times reported“The president appeared to be referring to a Fox News report that identified a hospital in Texas that had advertised paying for ‘Birth Packages in South Texas’ on billboards in Mexico. The outlet reported that Gov. Greg Abbott of Texas, a Republican, had ordered an investigation into the hospital, which told Fox News that “marketing materials regarding maternity services are no longer in use due to any unintended misunderstanding.”
Trump apparently took this report and ran with it, inventing various other details, including the amusing idea that cross-border birth tourism will somehow become “the number one way of becoming a citizen” (“by far,” the president added), as opposed to simply being born on U.S. soil to American parents.
But even if such an advertising campaign existed, it wouldn’t generate a rehearing from the Supreme Court. There is no scenario in which justices would say, “Sure, we ruled last week that the unambiguous language of the 14th Amendment means what it says, but if there are billboards going up, that changes everything.”
For good measure, let’s not forget that, according to Trump, his administration has effectively ended illegal border crossings, so as a practical matter, he really shouldn’t be that concerned.
The president’s online rant said he intends to ask for an immediate rehearing. If he orders administration lawyers to go through with such a pointless exercise and they bother to do the paperwork, they should keep their collective expectations low.
Steve Benen is a producer for “The Rachel Maddow Show,” the editor of MaddowBlog and an MS NOW political contributor. He’s also the bestselling author of “Ministry of Truth: Democracy, Reality, and the Republicans’ War on the Recent Past.”
Maine Democrats are scrambling to replace Graham Platner a day after their nominee for U.S. Senate ended his bid following an allegation of sexual assault.
There’s a July 27 deadline set by state law for the party faithful to pick a new standard bearer in a race that is expected to be instrumental when it comes to whether Republicans can keep control of the Senate in this fall’s midterms.
Incumbent Republican Sen. Susan Collins may be vulnerable, but she has won five straight races for the seat dating back to 1996, and trying to defeat her was likely to carry challenges for Democrats even in the best case scenario.
Their new candidate will have to essentially start from nothing in the race, mend the divisions sown by Platner, introduce (or reintroduce) themselves to the broader electorate and corral support from the ex-candidate’s outsider-minded current and former followers, all in less than four months.
That amounts to a daunting task with massive implications not only for Maine Democrats, but potentially for the final two years of President Donald Trump’s time in the White House. Democrats need to flip at least four GOP-held Senate seats, and maintain all their current ones from several competitive states, to vault themselves into the majority in the midterms. A loss in Maine would be a significant setback.
Maine Democratic Party leaders announced plans “to hold a nominating convention to choose a new nominee,” while stating that “transparency is of the utmost importance.”
Already, several major voices are in the race, including unsuccessful candidate for governor and past Platner supporter Troy Jackson. The former state senate president made his bid clear less than an hour after Platner left the race. One major Bernie Sanders-aligned group, Our Revolution, has quickly rallied around Jackson.
Dan Kleban, co-founder of Maine Beer Company,”https://x.com/mainebeerbrewer/status/2075028234962677872?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet”>is also in the fray, along with former governor candidate Nirav Shah, who worked as Director of the Maine Center for Disease Control and Prevention during the pandemic. Maine Secretary of State Shenna Bellows who also ran for governor this summer is among other potential contenders.
Platner’s exit also brings difficulty for Collins and Republicans as well, however. Instead of facing a Democratic rival with a string of alarming controversies even before the sexual assault allegationan accustation Platner has denied, Collins instead will have to try to keep her seat in a blue state against someone far less defined, and potentially with far fewer vulnerabilities, in November.
Across the country this year, Democrats have navigated a political environment rife with divisions over how to sway voters in these strange times, with tension between more entrenched party leaders and an energetic and angered left wing often spilling out into the open.
What happens in Maine over the coming weeks may prove to be no different.
Hunter Woodall covers politics for MS NOW. He’s reported on politics and presidential campaigns for The Associated Press and CBS News and reported on Congress for The Minnesota Star Tribune.
It’s been almost three years since Kevin McCarthy became the first sitting House speaker to be ousted in the middle of a congressional sessionbut the California Republican has nevertheless tried to maintain a public profile and has routinely appeared on conservative media to push partisan talking points.
So it wasn’t too surprising to see McCarthy on Fox News on Monday night, responding to the latest sexual assault allegations against Graham Platner, still a candidate for Senate at the time.
As part of an apparent effort to contextualize the scandals surrounding the Maine Democrat, the former GOP leader said, “One thing I know about Republicans is when we had a very bad candidate and found out, we didn’t vote for that person. We walked away.”
Moments later, McCarthy added, “When Matt Gaetz came forward, we got rid of him.”
As is too often the case, the failed former House speaker not only had it backward, but his mistake also offered a timely reminder of details that made him and his party look worse, not better.
Indeed, Gaetz offers a rather extraordinary example. The Justice Department investigated the Florida Republican over allegations of alleged sex trafficking, and while Gaetz repeatedly denied any wrongdoing and the prosecutors’ probe ended without charges, his House GOP colleagues made no effort to “get rid of him” as the scandal intensified.
What’s more, the House Ethics Committee found “substantial evidence” that Gaetz “regularly” paid women for sex, had sex with a 17-year-old during his tenure on Capitol Hill and possessed illegal drugs. Nevertheless, as that evidence came together, he remained a GOP member in good standing; he won re-election in 2024 with the Republican Party’s backing; and President Donald Trump thought it would be a good idea to nominate Gaetz to serve as the U.S. attorney general — a nomination endorsed by Republican senators such as South Carolina’s Lindsey Graham and Alabama’s Tommy Tubervilleeven after they had seen the House Ethics Committee’s findings.
This is what McCarthy cited as an example of the GOP maintaining the highest standards and throwing “very bad candidates” to the curb. That’s ridiculous.
But there’s no reason to stop with Gaetz. Indeed, the list of scandal-plagued Republicans who continued to enjoy the party’s backing long after ugly allegations had reached the public is not short. Trump is obviously the most glaring example, but the list includes other contemporary figures, including Rep. Cory Mills of Florida and Texas Attorney General Ken Paxton.
There’s no reason to limit the list to electoral candidates, either: Former Fox News host Pete Hegseth faced an avalanche of scandals during his confirmation fight early last year, but Senate Republicans decided to ignore the allegations and make him defense secretary anyway.
As the Hegseth fight unfolded, political scientist Jonathan Bernstein published a smart piece that remains relevant: “I do not believe that Republicans or conservatives are any more prone to [scandals] than Democrats. What has changed, however, is the incentive structure. Once upon a time both parties were equally likely to rid themselves of bad actors; now Republicans are far more likely to tolerate, and in some cases even celebrate, behavior they once would have shunned.”
When Democrats learned of serious allegations against then-Illinois Gov. Rod Blagojevich, the party abandoned him. When then-New Jersey Sen. Bob Menendez faced serious criminal charges for which he was later convicted, the party abandoned him, too.
In Maine, the Platner example followed the same path, as evidenced by his decision to withdraw from the Maine race after Democratic officials left him with no other choice.
Former U.S. Attorney Joyce Vance, an MS NOW legal analyst, explained this week“The contrast here is hard to ignore. Democrats have shown that when credible allegations of sexual misconduct emerge against one of their own, the conversation turns quickly to accountability. Republicans have made a different choice. That’s not a partisan talking point, it’s a difference in how the two parties have approached questions of character and fitness for office over the last 10 years.”
That’s true, whether McCarthy wants to acknowledge it or not.
Steve Benen is a producer for “The Rachel Maddow Show,” the editor of MaddowBlog and an MS NOW political contributor. He’s also the bestselling author of “Ministry of Truth: Democracy, Reality, and the Republicans’ War on the Recent Past.”
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