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☆ Trump's potential Truth Social earnout is an avenue for outside interests if he becomes president, experts say
▼ + stars: | 2024-04-01 | by ( Brian Schwartz | ) www.cnbc.com time to read: +5 min

The Truth Social app is being displayed on a smartphone with Truth Social visible in the background. Donald Trump's scheduled earnout through the parent company of Truth Social presents opportunities for outside interests if he were to defeat Joe Biden and become president again, according to experts. "When President Trump returns to the White House, he will continue to follow ethics guidelines," Steven Cheung, Trump's spokesperson, said in an email. The new Trump media stock has been on a wild swing since it began trading. To the extent users prefer a platform that is not associated with President Trump, TMTG's ability to attract users may decrease," the Trump Media and Technology Group wrote in a filing.

Persons: Donald Trump's, Joe Biden, Trump, Virginia Canter, Canter, Biden, Steven Cheung, He's, Kedric Payne, Payne, Peter Schiff, President Trump Organizations: Truth, Trump Media, Technology, Securities and Exchange Commission, Trump, White, Nasdaq, CNBC, Technology Group Locations: Washington ,, U.S

☆ Analysis: Trump’s DJT stock creates a unique new ethical nightmare
▼ + stars: | 2024-03-26 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

In the meantime, he’s also trying to sell “God Bless the USA” Bibles via his social media platform Truth Social for $59.99. )”A history of bankruptcyAnother note of caution for investors in DJT should the history of the last company Trump took public. Trump’s casino company also went by the ticker DJT, but on the New York Stock Exchange between 1995 and 2004, when it went bankrupt and was delisted. None of that has stopped what some experts have referred to as a bubble forming around the Trump Media & Technology Group. Susquehanna International Group did not return a request for comment about the company’s stake in Trump Media & Technology Group.

Persons: ”, Donald John Trump, he’s, CNN’s Matt Egan, “, Kara Swisher, Laura Coates, Egan, Reddit, Trump, Daniel Dale, Jeff Yass, Jordan Libowitz, ” Libowitz, Kedric Payne, ” Payne, can’t, weren’t Organizations: CNN, Nasdaq, Trump, “ Trump Media, Trump Media, New York Stock Exchange, Trump Media & Technology, NYSE, GameStop, AMC, Susquehanna International Group, Yass ., Yass . Susquehanna International Group, Trump Media & Technology Group, Supreme, DC, Trump Organization, New York Times Locations: United States, New York, DJT, Trump’s, ByteDance, TikTok, Yass, Trump, Yass . Susquehanna, Washington, Saudi Arabia, Qatar, DC

☆ Exclusive: Hunter Biden's gallery sold his art to a Democratic donor 'friend' who Joe Biden named to a prestigious commission
▼ + stars: | 2023-07-24 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +10 min

Internal gallery documents reveal that sales of Hunter Biden's art brought in $1.3 million. The messaging seemed to suggest that Hunter Biden's art patrons came from a rarified universe of collectors who had nothing to do with the hurly burly of politics. Hunter Biden did in fact learn the identity of two buyers, according to three people directly familiar with Hunter Biden's own account of his art career. In the past, Hunter Biden has privately suggested that he could arrange to have friends seated on the commission. In fact, according to the person familiar with Hunter Biden's account, Morris purchased the art through Biden's gallery.

Persons: Hunter Biden, Elizabeth Hirsh Naftali, Kevin Morris, Hunter Biden's, Joe Biden, Hunter, Hirsh Naftali, Biden, Kamala Harris, Hirsh Naftali's, —, Nancy Pelosi, Ian Sams, Bruce Weinstein, it's, Weinstein, Eric Schwerin, Barack Obama, Eric, Schwerin, Abbe Lowell, Lowell, Georges Bergès, Hunter Biden's gallerist, Hunter Biden deplanes, Elizabeth Frantz, Morris, Charlie Horne, Gurr Johns, he'd, Kedric Payne, Mattathias Schwartz Organizations: Service, Biden White, Biden White House, California Democratic, Democratic National Campaign, Commission, America's, RAND Corporation, Air Force, New York Times, Times, Department of Justice Locations: Wall, Silicon, New York, Los Angeles, California, Israel, Europe, Syracuse , New York

☆ The attorney featured in the painting that shows Clarence Thomas at one of the undisclosed vacations just published an article arguing that the Supreme Court justice did not have to report the trips
▼ + stars: | 2023-04-28 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Earlier this month, ProPublica reported on Justice Clarence Thomas's undisclosed luxury trips. Mark Paoletta, a partner at Schaeer Jaffe and close friend of Thomas, wrote in the right-leaning National Review article published Thursday arguing that Thomas had "acted properly and consistent with the rules" of financial disclosures for Supreme Court Justices. But the attorney is also featured in a painting that was commissioned by Crow and depicts Thomas vacationing at the luxury resort that is central to the renewed scrutiny of Thomas' financial disclosure forms. Sharif Tarabay, the artist of the painting, told ProPublica that the piece depicts a moment at Topridge from about five years ago. But that is immaterial to the conclusion that Justice Thomas had no obligation to disclose these innocuous trips," Paoletta wrote.

☆ Washington lawmakers hold on to crypto holdings despite calls for new laws in wake of FTX collapse
▼ + stars: | 2022-12-01 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Another lawmaker, Republican Sen. Tommy Tuberville of Alabama, disclosed at a Senate Agriculture Committee hearing about FTX on Thursday that he, too, holds some crypto assets. Tuberville's most recent disclosure reports from this year reviewed by CNBC do not show any crypto stock purchases. Out of all ten offices contacted, only one said they sold their crypto stock holdings after FTX imploded. Rep. Marie Newman, D-Ill., who lost her bid for reelection owned crypto stock up until last week, recently sold her digital token stocks as the industry took a hit. Toomey told CNBC "HODL" when asked about whether he plans to sell his crypto stock following FTX's collapse.

☆ Nancy Pelosi's congressional stock trading ban has a massive blind trust loophole and is too broad, ethics experts warn
▼ + stars: | 2022-09-29 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +10 min

But ethics experts say the bill has a major loophole when it comes to blind trusts, and is too broad. Broadly speaking, a blind trust is a financial arrangement wherein people turn over their assets to be managed by an independent entity to prevent a conflict of interest. Several previously-introduced bills to ban stock trading allow for lawmakers to place their stocks into a blind trust, rather than fully selling off existing stock holdings. "You'd be able to create any kind of a trust you want to, put anything you want into it, and call it a blind trust, even though there wouldn't actually be any way to prove that it is, in fact, a blind trust." Payne also said the blind trust loophole was a "small risk," but that in an optimistic scenario, "that language allows this law to grow for future circumstances that you just can't be prepared for."

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