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Hegseth, Eric Trump Dismiss Safety Concerns as Navy Reviews Low Flyover at Florida Beach
"The flyovers will continue until morale improves," said the defense secretary.
Jul 16, 2026
A day after Secretary of Defense Pete Hegseth shared with the public his fixation on service members' levels of testosterone, the president's son mocked those who were alarmed by the US military's latest apparent display of might directed at Americans, mocking what he called the "low-T mainstream media."
Saying the stunned responses of many who saw a jet fly low over a crowded beach in Pensacola, Florida were simply "manufactured outrage," Eric Trump said the maneuver was "undoubtedly the highlight of these people’s day."
Trump's comments came as officials with the US Navy's elite Blue Angels said they were conducting a "thorough safety review" to determine whether the flyover violated the squadron's and the Federal Aviation Administration's (FAA) strict standards.
Online videos showed people gathered on the beach Wednesday morning for a "Breakfast with the Blues" flight demonstration event.
A jet flew close to the crowd, directly over the heads of the onlookers, overturning some chairs and umbrellas. A child was heard crying in one video posted by a local news outlet.
Dramatic video shows the U.S. Navy Blue Angels making a low-altitude flyover above Pensacola Beach, Florida, on Wednesday. Navy officials confirmed in a statement that Blue Angels leadership is "reviewing the circumstances surrounding the maneuver and conducting a thorough safety… pic.twitter.com/ZUa1ryk4X8
— ABC News (@ABC) July 15, 2026
In the "low-altitude pass," Blue Angels officials said, the aircraft "flew lower than standard profiles, resulting in a disturbance on the beach that affected civilian chairs and umbrellas."
"The safety of our hometown community, spectators, and our pilots is our highest priority," the statement continued. "Team leadership is reviewing the circumstances surrounding the maneuver and conducting a thorough safety review to ensure all operations adhere to strict Navy and FAA safety standards."
Hegseth struck a decidedly different tone than the flight demonstration squadron, which is known for its precision and strict safety protocols.
"The flyovers will continue until morale improves," said the defense secretary in a reference to a well-known, sardonic slogan.
Writer JP Hill called Hegseth's response to the flyover "fucking insane" and expressed hope that a result of the Trump administration would be "a realization that this brand of masculinity that's just an emotionally frozen 12-year-old in an adult body is stupid as shit."
Meanwhile, the White House posted on X an illustration that appeared to equate approval of the stunt with patriotism and freedom, writing, "It's okay to love America" above the image.
The maneuver in Florida came months after a live-fire weapons demonstration by the US Marines over Interstate 5 in California, during which a malfunction caused an artillery shell to explode prematurely and send shrapnel over the highway where traffic was flowing.
Writer and podcaster Noah Kulwin wrote that the two recent maneuvers combined "leads me to believe: American military will accidentally cause a civilian mass casualty incident in the continental US before Trump’s term is out."
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'Not Even Trying to Hide Their Brazen Corruption': Trump Sons Set to Profit From Tungsten Mining Deal
"This is the most corrupt administration in American history," said one House Democrat. "It is not close."
Jun 30, 2026
A bombshell New York Times report detailing how President Donald Trump's eldest sons stand to profit from a tungsten mining deal negotiated by their billionaire father sparked outraged calls for accountability on Monday, with Democratic lawmakers characterizing the taxpayer-funded project as yet another example of the administration's unchecked and unprecedented corruption.
"You will not believe it until you see it laid out," US Rep. Mike Levin (D-Calif.) wrote in response to the Times story published over the weekend. According to the newspaper, Trump and his team—including billionaire Commerce Secretary Howard Lutnick—"won an agreement from the Kazakh leader to give a little-known American company access to one of the world’s largest untapped reserves of tungsten, a metal that the United States desperately needs for the production of missile warheads, fighter jets, computer chips, and other critical goods."
Ahead of the deal's completion last September, according to the Times, the Trump administration "approved preliminary applications for as much as $1.6 billion in federal financing for the American company, now called Kaz Resources, which plans to break ground on the project in rural Kazakhstan."
Eric Trump and Donald Trump Jr., along with Lutnick's sons Brandon and Kyle, are poised to benefit from the project. "Within weeks of the St. Regis negotiations, investors with a firm called Dominari Securities, which is housed at Trump Tower in New York and partly owned by the president’s two eldest sons... joined with other partners to take a 20% stake in a corporate entity related to the Kazakhstan project," the Times reported.
"We’ve seen 300,000 Georgians lose health coverage in the last six months because they couldn’t find room in the budget for health insurance. But they’ve got room in the budget for a tungsten mine overseas, controlled in part by Prince Don and Prince Eric," Sen. Jon Ossoff (D-Ga.) said in an MS NOW appearance late Monday.
Ossoff: You’ve got the American government, controlled by Donald Trump, backing a Trump family tungsten mine in Kazakhstan with more than a billion dollars in federal commitments at the very same time that they are cutting health care, defunding hospitals and nursing homes, and… pic.twitter.com/LCZbJgLyUX
— Acyn (@Acyn) June 30, 2026
Lutnick's sons, meanwhile, "helped one of the lead investors... on the Kazakh deal raise $210 million in new capital for a related entity," potentially resulting in a multimillion-dollar boon for Cantor Fitzgerald, the investment firm overseen by Brandon and Kyle Lutnick.
"They're not even trying to hide their brazen corruption anymore," wrote US Rep. Don Beyer (D-Va.). "President Trump and Secretary Lutnick used your tax dollars to further enrich their families from a major mining deal with Kazakhstan."
Beyer stressed that "this isn't an isolated incident." The Times found that at least "14 companies working on critical mining deals with the US government that have ties to Cantor Fitzgerald or the Trump family," including Kaz Resources, Perpetua Resources, and USA Rare Earth.
Trump's family has profited massively from his return to the White House, thanks in a large part to a crypto scheme spearheaded by the president's eldest sons. A "Trump Family Digital Grift Wealth Tracker" maintained by Democrats on the House Oversight Committee estimates that crypto projects have netted the president and his family over $2.4 billion in profits so far.
"This is the most corrupt administration in American history. It is not close," Levin said Monday, accusing Trump's Republican allies—including House Speaker Mike Johnson (R-La.)—of enabling the president as he loots federal coffers to further enrich himself and his family.
"We must keep digging, and keep asking the questions they do not want asked," Levin added. "Republicans in Congress are unwilling to lift a finger. Mike Johnson is running a protection racket."
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Watchdog Warns Crypto Bill Could Be Major Tax Giveaway to Ultrarich—Including Trump Family
“The cryptocurrency industry has facilitated the Trump family’s corruption at every turn. Lawmakers should be wary of creating new tax loopholes to benefit the Trump family and their donors in the crypto industry."
Jun 22, 2026
A government watchdog is warning that new cryptocurrency policies being considered in the House of Representatives would be a major boon to the ultrawealthy, including President Donald Trump's family.
In an analysis published on Monday, the Revolving Door Project (RDP) highlighted new crypto-related tax bills being discussed in the House Ways and Means Committee, including one that "would create a functional subsidy for cryptocurrency firms by allowing them to defer taxes owed on their mined coins indefinitely and without interest, so long as the firms do not sell the coins."
This would allow coin owners to raise money by borrowing against these assets without having paid a cent of taxes on them, the analysis explains, which could be particularly beneficial for Trump's two eldest sons.
"Eric and Donald Trump Jr. reportedly hold a 20% stake in the bitcoin mining firm American Bitcoin, which mined 817 bitcoin in Q1 of 2026 alone," RDP writes. "At current prices, this represents a value of more than $50 million, while the company has stated that it already intends to hold assets it mines. If passed, this loophole could mean millions of dollars in taxes owed by the Trump sons’ firm could be deferred endlessly."
RDP also published a list of crypto donations to lawmakers on the House Ways and Means Committee. Rep. Steven Horsford (D-Nev.) has received nearly $2 million in support from the industry since 2023, more than any other committee member.
Other top recipients of crypto cash include Reps. Tom Suozzi (D-NY), Jimmy Gomez (D-Calif.), Adrian Smith (R-Neb.), and Jason Smith (R-Mo.), chairman of the committee.
Jeff Hauser, executive director of RDP, said that the bills currently under consideration in the House are essentially a return on the crypto industry's investment in political campaigns.
"The cryptocurrency industry believes it is owed massive tax loopholes and functional subsidies," said Hauser, "because it has bought the president, paid for his ballroom project, and has funded dozens of congressional campaigns. The lack of campaign finance reform is the principal reason that the ludicrously corrupt Trump family is set to enjoy yet another tax loophole to exploit."
Timi Iwayemi, assistant director at RDP, said that "the cryptocurrency industry has facilitated the Trump family's corruption at every turn," while warning members of Congress against doing the industry's bidding.
"Lawmakers should be wary of creating new tax loopholes to benefit the Trump family and their donors in the crypto industry," said Iwayemi. "Rewarding this behavior will embolden the crypto industry and other corporate lobbies eager to seize on our elected representatives’ prioritization of donor interests at public expense."
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Top Oversight Democrat Pushes Pentagon Watchdog to Probe 'Shady' Trump Family Contracts
Asking for an investigation, Rep. Robert Garcia noted that the Department of Defense “repeatedly awarded lucrative DOD contracts to companies after they became affiliated with the president’s sons.”
May 08, 2026
The top Democrat on the House Oversight Committee is urging the watchdog overseeing the Pentagon to investigate "shady" defense contracts that may have benefited the family of President Donald Trump.
Rep. Robert Garcia (D-Calif.), the ranking member of the Oversight Committee, sent a letter on Friday to the Department of Defense inspector general, Platte B. Moring III, calling for an investigation after the administration "repeatedly awarded lucrative DOD contracts to companies after they became affiliated with the president’s sons," Eric and Donald Trump Jr.
"While Trump’s illegal war in Iran is driving up gas and grocery bills for working families, his sons are cashing in on defense contracts funded by hardworking taxpayers," Garcia said.
He pointed to a contract awarded last week for the Air Force to buy an undisclosed number of interceptor drones from the West Palm Beach-based company Powerus, drones that Bloomberg reported have never been used in combat. The company has not disclosed the terms of the deal or the size of the contract.
But the deal instantly raised eyebrows, given that just a month before, the Trump sons were brought on board as Powerus investors after a golf course company they backed, Aureus Greenway Holdings, announced plans to merge with the drone manufacturer.
The Guardian reported that the company had pushed hard for its technology to be sold to Persian Gulf countries facing attacks from Iran in retaliation for the war that the elder Trump started. “These countries are under enormous pressure to buy from the sons of the president so he will do what they want,” Richard Painter, a former chief White House ethics lawyer under President George W. Bush, told the paper.
Garcia also pointed to a $24 million contract awarded last month to Foundation Future Industries, a company that produces humanoid robots designed to participate in warfare. Similarly, just a month before the lucrative contract was announced, Eric Trump became chief strategy adviser for Foundation Future after previously investing in the company.
"Since the start of President Trump’s second term, his adult children have started conspicuously involving themselves in a variety of defense-related contracting firms with specialties including rockets, robots, martial arts, and drones," Garcia wrote. "These new engagements come despite little history of the Trump family working in those sectors prior to January 2025. Many of these firms have then received grants, loans, and contracts following the Trump family involvement, raising questions about the ability of these firms to fulfill their obligations."
"Eric Trump and Donald Trump Jr.’s purchases, consultancies, and advisory roles create an unprecedented intertwining of President Trump’s personal financial interests with US policy and national security," Garcia continued. "Each new venture opens new opportunities to direct DOD funds to the first family’s pockets, and the Trump Administration appears to be taking advantage of those opportunities."
The weapons contracts are part of a much larger pattern of the Trump children being put in positions to profit from administration contracts.
The Financial Times reported in December that during the first year of Trump's presidency, his administration awarded more than $735 million in contracts to companies in the portfolio of 1789 Capital, a fund created by pro-Trump donors that Donald Trump Jr. joined in 2024.
Trump Jr. said last year that he and the 1789 firm "understand what the administration wants to do, because we helped craft some of that messaging," which Garcia described in Friday's letter as an admission "that the Trump family is using insider information for its own business interests."
Democrats in Congress have repeatedly demanded answers from the Defense Department about its processes for preventing self-dealing by Trump's sons and others with ties to the president.
In response to a letter sent in January by Sens. Elizabeth Warren (D-Mass.) and Richard Blumenthal (D-Conn.), the Defense Department said in March that its primary method of mitigating conflicts of interest is "through the diligent collection and review of financial disclosure forms for employees."
Garcia said that "this does not prevent Trump administration officials from directing taxpayer dollars with the purpose of enriching the Trump family, nor does it prevent the Trump family from profiting from insider knowledge of future Pentagon plans."
Noting the nearly $2.5 billion it has raked in through cryptocurrency and other digital investments, according to an estimate by Democrats on the House Oversight Committee, Garcia said that "given this pattern of using the presidency for personal grift, the Trump family’s ventures into defense contracting are all the more alarming."
Garcia requested that the department open an investigation into what safeguards exist to prevent self-dealing by the Trump family and to disclose what contracts it currently has with companies tied to them and how they were evaluated for potential conflicts of interest.
He said, "The American people deserve to know that DOD awards contracts of taxpayer dollars ethically and prioritizes the best solutions for our national security—not who can pay the Trump family more."
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‘Absurd Corruption’: Disgust as Eric Trump Brags About Scoring $24 Million Pentagon Deal
"The US government is now one of, if not the most, corrupt governments on earth," said one critic.
Apr 23, 2026
Critics reacted with disgust after Eric Trump went on Fox Business on Thursday morning to boast about Foundation Future Industries, a company where he serves as chief strategy adviser, scoring a multimillion-dollar deal from the US Department of Defense.
For the segment, Fox Business' Maria Bartiromo invited on both Eric Trump and Sankaet Pathak, co-founder and CEO of Foundation Future, a robotics firm that earlier this year won a $24 million Pentagon contract that will see its robots deployed in Ukraine, where they will be used to inspect and transport weapons.
Bartiromo asked the second-eldest son of President Donald Trump how he got involved with Foundation Future, and "what attracted" him to the enterprise.
Trump responded that he decided to get involved with robotics to help America "win" the race with China to build battle-ready robots, in the same way he purportedly helped the US "win" by being an early investor in cryptocurrency.
"We better be winning this race in the United States of America," he declared. "We're the greatest economy in the world... When you go up and you interact with these robots, and they fist bump you and they high five you, they follow your commands. You bring in AI economy, it's going to change industry, it's going to change military application, it's going to change hospitality. The uses are unlimited."
Eric Trump on his $24 million Pentagon contract for robots: "It's gonna change industry, military application, hospitality. The uses are unlimited and I think it's a very beautiful thing, but we must win that race." pic.twitter.com/JsfiB6Usbi
— Aaron Rupar (@atrupar) April 23, 2026
Eric Trump and his brother, Donald Trump Jr., for months have been investing in companies with the goal of scoring lucrative Pentagon deals.
The Wall Street Journal reported in March that the Trump brothers invested in a Florida-based drone company called Powerus that “is vying to meet fresh demand from the Pentagon” for drones that started when the Trump administration banned foreign-made drones and drone components from the US in December.
And in 2025, at least two companies backed by Trump Jr. received contracts collectively worth hundreds of millions of dollars from the DOD.
Given this history, critics were quick to hurl accusations of corruption at the Trumps for using their father's presidency to personally enrich themselves.
"The president's son, who was never involved in this industry before his father became president, should not be getting contracts from the Pentagon," declared Ron Filipkowski, editor-in-chief of MeidasTouch. "This is absurd corruption that Republicans in Congress will say nothing about and do no oversight."
Phillips O'Brien, professor of strategic studies at the University of St. Andrews, said the fact that the president's son is openly boasting about getting multimillion-dollar deals from his father's DOD shows "the US government is now one of, if not the most, corrupt governments on earth."
University of Michigan political scientist Donald Moynihan compared the Trump brothers to Uday and Qusay Hussein, the late sons of former Iraqi President Saddam Hussein, and argued that much of Trump's second administration appears to be running the US government like it's a family business.
"An underestimated rationale for Trump's massive ramp-ups in immigration/military spending," he wrote, "is to create a public slush fund for friends, families, donors."
National security attorney Bradley Moss, in a nod to possible future congressional investigations of the Trump family's corruption, advised Eric Trump to "preserve your records."
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Trump Sons Accused of Trying to Profit Off Father’s Iran War With Drone Investment
"The most corrupt family ever is profiting from all of the death and destruction Trump is responsible for," said one critic.
Mar 09, 2026
There's no end in sight to President Donald Trump's unprovoked and unconstitutional war with Iran, and two of the president's children appear ready to cash in.
The Wall Street Journal reported on Monday that Donald Trump Jr. and Eric Trump are investing in a Florida-based drone company called Powerus that "is vying to meet fresh demand from the Pentagon" for drones that started when the Trump administration banned foreign-made drones and drone components from the US in December.
The company will soon be going public by merging with Aureus Greenway Holdings, a publicly traded golf-course holding company that is also backed by the Trumps, and is expected to make its debut on the Nasdaq stock exchange in the coming months.
"Investors in the deal include one of the Trumps’ investment vehicles, American Ventures," reported the Journal, "and Unusual Machines, a drone components company where Donald Trump Jr. is a shareholder and advisory board member... Powerus is also a customer of Unusual Machines."
In an interview with the Journal, Powerus CEO Andrew Fox predicted robust demand for his company's products, commenting that the drone market "is certainly going to grow faster than, say, golf courses are."
Eric Trump confirmed and defended his investment in the drone firm, replying to the Journal in a social media post that "I happen to believe drones will be a much better investment than companies that still print newspapers."
Many critics, however, accused the two eldest Trump sons of seeking to profit off a war started by their own father. As the New York Times reported on Saturday, drones have become "a defining feature" of the Iran war, as they have been used by both sides in the conflict to launch explosives at targets at a fraction of what traditional missile barrages would cost.
"Rushing to cash in on Daddy's failed war before they've even gotten Barron and Kai to enlist," wrote journalist Marcy Wheeler. "Truly deplorable behavior, but what we expect from these corrupt reprobates."
University of Virginia political scientist Larry Sabato argued that the Trump sons' efforts to rake in cash from the war shouldn't be surprising.
"Always a money-making angle for the Trump family," Sabato wrote. "Why should the War with Iran be any different?"
Sabato's words were echoed by fellow political scientist Norman Ornstein, who observed "it’s always about the grift" when it comes to the Trump family.
Melanie D'Arrigo, executive director of the Campaign for New York Health, argued that the Trump sons' drone investment should cast a pall across the entire Iran war venture.
"Reminder as Trump starts wars, sells weapons and bombs everyone," D'Arrigo wrote. "The Trump family has a military drone company with military contracts, currently vying to meet Pentagon demand after the Trump administration recently banned new Chinese drones. The most corrupt family ever is profiting from all of the death and destruction Trump is responsible for."
In 2025, at least two companies backed by Trump Jr. received contracts collectively worth hundreds of millions of dollars from the US Department of Defense.
Kedric Payne, general counsel at the Campaign Legal Center, said in an interview with the Financial Times last year that the government deals scored by Trump Jr.-backed companies look ethically dubious even if the president’s son didn’t directly use his influence to procure them.
“Presidents are expected to avoid even the appearance that they are using their office to financially benefit themselves or their family,” he said. “While we do not know for certain if, or how, the president may have influenced this loan, it falls under the cloud of conflicts of interest we have seen throughout this administration.”
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'Greatest Corruption in Presidential History': Trump Family Reaps $5 Billion More in Crypto Profits
"Your family gets higher energy prices and cuts to healthcare. His family gets billions," said Rep. Greg Casar.
Sep 03, 2025
In what Public Citizen called "the greatest corruption in presidential history," US President Donald Trump and his family added $5 billion in cash to their fortunes this Labor Day as his new cryptocurrency was opened to the public market.
The currency, known as WLFI, is owned by World Liberty Financial, a company founded by the president's sons, Donald Trump, Jr., and Eric Trump. A Trump business entity owns 60% of the company and is entitled to 75% of the revenue from coin sales.
As the Wall Street Journal reported Monday:
The trading debut was most likely the biggest financial success for the president's family since the inauguration...
WLFI is likely now the Trumps' most valuable asset, exceeding their decades-old property portfolio. While the president's family has continued to pursue property deals around the world since taking office, the fast-moving crypto business has had the biggest early impact.
Crypto is now the dominant source of Trump's wealth. As an investigation by the anti-corruption group Accountable.US found last month, "President Trump's net worth could roughly be $15.9 billion, with about $11.6 billion in uncounted crypto assets," meaning that the digital currencies now make up 73% of his total net worth.
In addition to the tokens owned by World Liberty Financial, it found that two Trump-affiliated companies owned 80% of the $TRUMP meme coin as of May and had collected over $324 million in fees since Trump took office in January.
Meanwhile, Trump Media, which owns his online platform Truth Social, bought $2 billion worth of Bitcoin in July and reserved another $300 million in Bitcoin options.
As America's self-proclaimed "first crypto president," Trump has sought to curb regulations against the volatile financial assets.
In July, Trump signed the GENIUS Act, which purports to establish the US's first regulatory framework for crypto. However, critics noted that the law designated so-called "stablecoins," of which Trump owns many, as "commodities" rather than "securities," allowing them to face much looser oversight.
Though the bill passed with support from over 100 Democrats, Rep. Maxine Waters (Calif.), the ranking Democrat on the House Financial Services Committee, warned that the bill "legitimizes Trump actively building the most corrupt self-dealing crypto environment this country has ever seen."
Rep. Ayanna Pressley (D-Mass.) described Trump's latest $5 billion windfall as "blatantly corrupt and a brazen abuse of power."
"The current occupant of the White House," she said, "is putting personal profit above the people, using his power to illegally line the pockets of his family and billionaire friends while hanging everyday families out to dry by ripping away their healthcare, food assistance, raising the cost of consumer goods, gutting the Consumer Financial Protection Bureau, and more."
While cryptocurrency is often billed as an asset available to everyone that levels the playing field of the finance world, in practice, its ownership is largely concentrated among the wealthiest Americans. According to a Harris poll published in April, nearly half of all crypto owners have a yearly income of over $150,000, putting them in the wealthiest 10% of the country.
"Your family gets higher energy prices and cuts to healthcare. [Trump's] family gets billions," said Rep. Greg Casar (D-Texas), the chair of the Congressional Progressive Caucus. "Corruption, plain and simple."
Sen. Patty Murray (D-Wash), a strong advocate for crypto regulation, said that such blatant profiting from the presidency makes Trump "easily the most corrupt president in our country's history," and emphasized that "Republicans in Congress are not lifting a single finger to exercise basic oversight."
According to data from OpenSecrets, just three crypto industry-backed political action committees (PACs) poured over $133 million into the 2024 election. Though they spent the majority of that money supporting Republicans, nearly 40% of it went to Democrats.
But although all this money helped to buy what Coinbase CEO Brian Armstrong called "America's most pro-crypto Congress ever," according to Reuters, just 3% of legislators in the US House of Representatives and Senate own these assets themselves, including Sens. Dave McCormick (R-Pa.) and Tim Sheehy (R-Mon.), as well as Reps. Nick Begich (R-Ark.) and Mike Collins (R-Ga.).
But Trump's profiteering far exceeds the crypto holdings of every congressperson put together.
"We have only seen the tip of the iceberg when it comes to the damage that this corruption will inflict on the American people," said Bartlett Naylor, a financial reform advocate with Public Citizen. "The impact of attempts by the Trump family and others to buy and sell politics and politicians will continue to ricochet."
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Gold Phone and Mobile Service Blasted as Latest 'Trump Family Profiteering'
"Good luck getting a federal agency to hold the company accountable if service fails or things go off the rails," said one critic.
Jun 16, 2025
The Trump Organization on Monday announced the creation of a new cellular phone service named after U.S. President Donald Trump and teased the upcoming release of a gold, $499 smartphone—news that elicited swift rebuke from two watchdog groups.
"The limit to Trump family profiteering does not exist," wrote the group Citizens for Responsibility and Ethics in Washington in response to Eric Trump discussing the update on Fox Business Network on Monday.
The new wireless service, called "Trump Mobile," advertises a $47.45 a month plan, and will operate as a licensing agreement.
"Trump Mobile, its products and services are not designed, developed, manufactured, distributed, or sold by the Trump Organization or any of their respective affiliates or principals," according to a Monday statement from the Trump Organization, which is headed by the president's sons, Eric Trump and Donald Trump Jr. "T1 Mobile LLC uses the 'Trump' name and trademark pursuant to the terms of a limited license agreement which may be terminated or revoked according to its terms."
According to that same statement, Trump Mobile will offer 5G service in partnership with existing major cellular carriers. It will also offer unlimited talk and text and other benefits, and subscribers to the plan will receive "telehealth services, including virtual medical care, mental health support, and easy ordering and delivery for prescription medications."
In addition to the new wireless service, a gold-colored "T1" smartphone will be available starting September, according to the Trump Mobile website.
"It seems utterly unfathomable that you could build a phone with this set of specs, at this price, to be delivered in September," remarked David Pierce, editor-at-large at The Verge.
The new wireless phone service is one of several products featuring the Trump name, including the $TRUMP meme coin.
Trump reported over $600 million in income stemming from a variety of ventures, including cryptocurrency, in a public financial disclosure report that appeared to cover the period of 2024 and which was released on Friday, according to Reuters. The report showed that Trump made millions in royalty payments for products that feature his name and likeness, according to NBC News. $TRUMP was released in January and not included in the filing, per NBC.
"The foray into phones raises new questions about conflicts of interest, with the president's family business entering a sector heavily regulated by federal agencies while Trump wields executive power over them," The Guardian reported on Monday. "It creates a particularly difficult situation for the Federal Communications Commission chairman, Brendan Carr, who must now oversee regulatory matters affecting a network bearing his boss's name."
Robert Weissman, co-president of the watchdog group Public Citizen, wrote on Monday that "Americans should slam down the phone in response to the latest marketing ploy from the Trump family business. Everything about this plan should tell Americans to disconnect right away."
Weissman cast doubt on the plan for a number of reasons, including that the physical phone would be designed and built in the United States. While speaking on "The Benny Show," Eric Trump said Monday that "eventually all the phones can be built in the United States."
Separately, Weissman added, "Good luck getting a federal agency to hold the company accountable if service fails or things go off the rails."
"We'll need many more details to fully assess what's going on—including the worrisome claim of offering a pharmacy and telehealth benefit—but it's already clear this is a plan that should be canceled, immediately," Weissman concluded.
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Entities Behind Trump Crypto Coin Made Up to $100 Million in Trading Fees in Under 2 Weeks
"Trump and his cronies get rich while the little guy gets fucked," said one critic.
Feb 03, 2025
Reuters reported Monday that the entities behind U.S. President Donald Trump's cryptocurrency token "generated between $86 million and $100 million in trading fees" from the mid-January launch to the end of the month, sparking a fresh flood of criticism and accusations of grift.
Trump announced the $TRUMP meme coin on the Friday night of the first-ever Crypto Ball in Washington, D.C., ahead of his Monday inauguration. Its market value swiftly soared that weekend, but has since dropped dramatically. Reuters had Chainalysis, Merkle Science, and a third blockchain analytics firm whose founder requested that it not be identified review the blockchain, a public ledger that shows transactions involving the coin.
Merkle Science estimated that three crypto wallets earned $86 million in trading fees from January 17 to January 30, while Chainalysis put it at about $94 million for the same period. The third firm found that by January 29, it was roughly $100 million.
According to Reuters:
One of the entities behind the crypto coin is a company owned by Trump, called CIC Digital. The official website for $TRUMP says CIC Digital will "receive trading revenue derived from trading activities" of the meme coin. Reuters could not determine what portion of the fees so far, if any, had accrued to Trump personally, nor the ownership of the other entities behind the coin.
The creators of the meme coin receive a share of the trading fees from Meteora, a little-known crypto exchange where the $TRUMP coins were first sold, the blockchain analyses showed.
At least 50 of the largest investors in the coin have made profits in excess of $10 million each on the $Trump coin, according to Chainalysis. At the same time, some 200,000 crypto wallets, most with small holdings, lost money on $Trump on the exchange, it said.
Responding to the reporting on the social media platform Bluesky, an account called Trumpflation Tracker declared that "Trump and his cronies get rich while the little guy gets fucked, same story different year."
Software engineer Jonathan McHugh similarly said, "His entire life is one giant grift, most often of people who can least afford it."
Rodrigo Fernandez, a senior researcher at the Amsterdam-based Center for Research on Multinational Corporations (SOMO), said that "the conflict of interest if obvious—but he managed to flood the zone to such an extend that this detail will go unnoticed."
The White House did not address Reuters' questions about the trading fees; instead, it sent a fact sheet about Trump's executive order on digital financial technology. The news agency noted that the president "has pledged to put his assets in a trust managed by his children on entering the White House" and his son Eric Trump did respond on behalf of the Trump Organization.
Eric Trump told Reuters that he is proud of what "we continue to accomplish in crypto. $TRUMP is currently the hottest digital meme on Earth." Echoing his previous comments on the coin, the president's son added that "we are just getting started."
Late last month, former U.S. Treasury Secretary Robert Reich wrote about the $TRUMP coin—as well as the first lady's $MELANIA coin that soon followed—and tied both to the president's related executive order "protecting and promoting" the crypto industry.
"In effect, Trump is writing the rules for a business venture from which he and his family are personally profiting. It could earn them hundreds of billions of dollars," he stressed. "The real significance of such blatant profiteering off the highest office in the land is what it reveals—not just about Trump but about the entire oligarchic enterprise he fronts for. It is likely to contribute to a vast wave of public alarm and disgust."
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Judge Grants NY AG's Request for Independent Monitor to Oversee Trump Organization
New York Attorney General Letitia James said the ruling means "Donald Trump and his companies cannot continue the extensive fraud that we uncovered."
Nov 03, 2022
A New York judge on Thursday granted the state Attorney General Letitia James' request for an independent monitor to supervise the businesses of former U.S. President Donald Trump, who is a defendant in a fraud lawsuit recently filed by James.
"Time and time again, the courts have ruled that Donald Trump cannot evade the law for personal gain."
New York Supreme Court Justice Arthur Engoron issued an order approving James' motion for the appointment of an independent monitor to oversee Trump's dealings with financial institutions, as well as any major asset sales.
In a statement welcoming Thursday's order, James said that "time and time again, the courts have ruled that Donald Trump cannot evade the law for personal gain."
"Today's decision will ensure that Donald Trump and his companies cannot continue the extensive fraud that we uncovered and will require the appointment of an independent monitor to oversee compliance at the Trump Organization," she added. "No number of lawsuits, delay tactics, or threats will stop our pursuit of justice."
James accuses the former president and other members of his business organization of "engaging in ongoing and extensive acts of fraud in the preparation of Mr. Trump's annual statements of financial condition" in violation of state executive and criminal laws.
In September, James' office sued Trump and three of his children--Donald Jr., Ivanka, and Eric Trump--for what the lawsuit called "staggering" fraud.
According to James, "Trump, his family, and the Trump Organization used fraudulent and misleading asset valuations over 200 times in 10 years on his annual financial statements."
"Since Mr. Trump and the Trump Organization became aware of [the attorney general's] investigation, they have continued to engage in many practices they knew to be improper or fraudulent," James' office asserted, "including on Mr. Trump's 2021 statement of financial condition."
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