China, Saudi, and Qatar are secretly pouring billions into Trump’s meme coin
The post China, Saudi, and Qatar are secretly pouring billions into Trump’s meme coin appeared on BitcoinEthereumNews.com. Foreign money is pouring into president Donald Trump’s meme coin, $TRUMP, and the list of buyers includes powerful governments and secretive companies tied to them that have almost no public track record. Billions are being pushed into this token by entities from China, Saudi Arabia, Qatar, and the UAE, just as Trump sits in the White House and his family runs the coin’s business. According to The New York Times, the biggest chunk of money—$2 billion—is tied to a United Arab Emirates-backed firm. That same week, a barely functioning Chinese firm announced it had secured $300 million to load up on $TRUMP, even though it hasn’t made a single dollar in revenue from the TikTok store it operates. And none of this is happening in the open. Every move is being funneled through tax havens like the British Virgin Islands, leaving Washington scrambling to understand the scale of influence being purchased through crypto. China-linked tech company wants $300 million in Trump coin The company is called GD Culture Group, and it trades on the Nasdaq even though its filings show it has just eight employees and failed to generate any money last year. On Monday, the firm said it would use $300 million raised from a British Virgin Islands investor to buy Bitcoin and $TRUMP. The plan was later confirmed in a public SEC filing. The GD Culture Group is tied to Shanghai Xianzhui, a Chinese subsidiary that admitted in March that its business could be “influenced” by the Chinese government. That detail alone has sent red flags through the ethics community because this would be the first known example of a Chinese-connected company buying into Trump’s personal coin. Even stranger, the coin buy announcement came just as Trump is negotiating whether TikTok should be banned in the United States.…
The post China, Saudi, and Qatar are secretly pouring billions into Trump’s meme coin appeared on BitcoinEthereumNews.com.
Foreign money is pouring into president Donald Trump’s meme coin, $TRUMP, and the list of buyers includes powerful governments and secretive companies tied to them that have almost no public track record. Billions are being pushed into this token by entities from China, Saudi Arabia, Qatar, and the UAE, just as Trump sits in the White House and his family runs the coin’s business. According to The New York Times, the biggest chunk of money—$2 billion—is tied to a United Arab Emirates-backed firm. That same week, a barely functioning Chinese firm announced it had secured $300 million to load up on $TRUMP, even though it hasn’t made a single dollar in revenue from the TikTok store it operates. And none of this is happening in the open. Every move is being funneled through tax havens like the British Virgin Islands, leaving Washington scrambling to understand the scale of influence being purchased through crypto. China-linked tech company wants $300 million in Trump coin The company is called GD Culture Group, and it trades on the Nasdaq even though its filings show it has just eight employees and failed to generate any money last year. On Monday, the firm said it would use $300 million raised from a British Virgin Islands investor to buy Bitcoin and $TRUMP. The plan was later confirmed in a public SEC filing. The GD Culture Group is tied to Shanghai Xianzhui, a Chinese subsidiary that admitted in March that its business could be “influenced” by the Chinese government. That detail alone has sent red flags through the ethics community because this would be the first known example of a Chinese-connected company buying into Trump’s personal coin. Even stranger, the coin buy announcement came just as Trump is negotiating whether TikTok should be banned in the United States.…
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