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New Statesman
6 days ago
- Business
- New Statesman
Trump's crypto empire is a brazen hustle
Photo byThat Donald Trump has turned his second presidency into a personal enrichment scheme is not exactly surprising. What has been unexpected, however, is one of the avenues he is using for that brazen accumulation: cryptocurrency and meme coins. The president is engaging in what many financial experts say is a scam industry, more akin to a pyramid scheme than a real currency. The Trump family's net worth has increased by an estimated $3bn thanks to various crypto schemes and investments. One overlooked aspect of the Maga movement is that while Trump is its leader, he is almost as influenced by its minions as they are by him. The degree to which Maga devotees seem willing to blindly follow Trump is more reminiscent of a cult than a political movement (one Maga diehard told the New York Times that he wasn't bothered by Trump's tariffs crashing the economy because he would 'eat a rat' for the president if he had to). But Trump also shape shifts according to what his followers seem to want. Do we really believe that this president, who seems happiest surrounded by billionaires on the golf course, has harboured a long-held passion for MMA fighting? Do we believe that a man whose favourite songs are 'Ave Maria' and 'YMCA' truly appreciates the musical stylings of Kid Rock? Of course not. But he likes power and he likes money. And by embracing the cultural preferences of his working-class base, he secures their fealty and adoration. This loyalty is particularly useful to Trump when he can profit from it. The Trump family's crypto schemes are now multiple, including a crypto exchange and meme coins. These funnel money directly into their pockets, beyond the reach of campaign finance laws. A recent dinner hosted by Trump, for which invitees were chosen based on how much of the $TRUMP meme coin they purchased, was seen as such a blatant attempt to use the presidency as a piggy-bank that a congressional Democrat opened an investigation. But the constitutional mechanism to deal with this kind of behaviour is impeachment. And with Republicans controlling Congress, that's not going to happen. There is something particularly American about all of this. For much of the country, the real American dream is less of hard, steady work and more getting rich quick. One in eight buy a lottery ticket at least every week. The proliferation of casinos, especially as revenue generators for Native American communities, has fed the country's gambling addiction (casinos are another tool Trump has long used to enrich himself). The legalisation of sports betting has also sent problematic gambling into overdrive. Thanks to the smartphone, millions can bet on sporting events 24 hours a day from devices designed to capture attention and not let go. One research paper found that legalising sports betting has translated to a 25-30 per cent increase in bankruptcy rates. Young men in low-income areas are most likely to face financial ruin due to gambling. It is perhaps not surprising that get-rich-quick schemes like gambling, sports betting and crypto seem to appeal primarily to isolated, uneducated young men. In contrast, the now female-dominated sphere of multi-level marketing businesses – which work not by gambling one's resources but by pulling in others to sell the same products, giving you a cut of the proceeds and encouraging your new partners' own underlings to do the same – create a structure that resembles a pyramid. These companies have thrived in religious communities where many women don't have full-time jobs and social ties are deep. The schemes seemingly most appealing to young men don't require having friends at all – just a phone and a dream. Many don't have attractive financial prospects, yet live in a culture that still ties masculine value to earning power. It's notable that one of the men helming Trump's crypto empire has described the industry thus: 'This space is run by a bunch of middle-aged men, you know, like, the mid-30-year-old men who understand the power of social media. And you can literally sell shit in a can, wrapped in piss, covered in human skin, for $1bn if the story is right, because people will buy it. And that is what is going on in the crypto space.' A long-animating question in American politics is to what degree the government should protect people from themselves. How much should we regulate vice? What rules should govern risky financial endeavours? Young men, for reasons both cultural and biological, are typically history's greatest risk-takers. Sometimes this brings a small number fame and fortune. More often it brings ruin. Now, the world's crypto bros have an American president who claims not just to be advocating for them but to be one of them. Except he won't offer any protection from magical thinking, and he certainly isn't the guy emptying his own bank account to buy virtual coins with cartoon dogs on them. He is, instead, a man who sees an opportunity to exploit others' naivety and penchant for risk-taking in order to profit handsomely, with little to no risk to himself. A man who we might say is inordinately talented at selling shit in a can. Subscribe to The New Statesman today from only £8.99 per month Subscribe [See also: How Putin will respond to 'Russia's Pearl Harbour'] Related
Edinburgh Live
25-05-2025
- Entertainment
- Edinburgh Live
EastEnders' Molly Rainford has a very famous dad and fans are only just realising
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info EastEnders actress Molly Rainford, known for her role as Anna Knight, has a rather famous father - a fact that fans are only just catching onto thanks to social media. Rainford portrays the character of Anna Knight, daughter of George Knight and Cindy Beale in the popular BBC soap. She made her debut in Albert Square in June 2023 and is fast approaching her two-year anniversary on the show. The 24 year old is also recognised for her stint on Strictly Come Dancing in 2022, where she was paired with professional dancer Carlos Gu. Despite making it to the finals, she was pipped to the post by CBeebies star Hamza Yassin and Jowita Przystal, who took home the glitterball trophy that year. READ MORE - Kate Middleton's 'very strict' rule for her children 'just as important as maths' READ MORE - Queen's favourite sandwich she had 'for every afternoon tea' since she was a girl Rainford is currently dating her Strictly co-star, KISS DJ Tyler West, after sparks flew between them on the show. The couple took their relationship up a notch in January 2024 when they announced they had moved in together. However, acting and dancing aren't Rainford's only claims to fame. She first rose to prominence following her rendition of Ave Maria in the Britain's Got Talent finals in 2012, at the tender age of 11, reports the Mirror. Moreover, she isn't the only well-known figure in her family. Her father is ex-footballer Dave Rainford. The 46 year old began his career at Colchester United as a teenager before playing for Slough Town, Heybridge Swift, Bishop's Stortford and AFC Hornchurch. The former midfielder joined Chelmsford City in 2008 and later became their assistant manager in 2012. After hanging up his boots in 2014, Dave now holds a senior position in the Premier League, serving as Head of Education and Academy Player Care. EastEnders enthusiasts flocked to Reddit to discuss whether Molly could be considered a 'nepo baby' following the revelation of her father's identity, despite his career being in a completely different sector. Some viewers were quick to highlight that Molly had wowed Britain's Got Talent judge Simon Cowell during her stint on the ITV programme, earning herself the show's inaugural drama school scholarship to the Sylvia Young Theatre School. This opportunity paved the way for her to secure presenting gigs on CBBC's Friday Download and a lead role in the sci-fi series Nova Jones. One viewer expressed their opinion bluntly: "That's a lot of nepotism". Yet another fan leapt to her defence, countering with: "None of it is nepotism - it isn't family connections that have helped her out she was just lucky enough to have been given a massive opportunity at a young age." Another chimed in, arguing that her father's football ties wouldn't have been influential in her music or TV career, stating: "I don't see how she's a nepo baby when neither of her parents have any connection to TV or film." While Molly has acknowledged a celebrity who she feels "changed my life", she was not referring to her dad Dave but rather to music impresario Simon Cowell. Reflecting on her journey, she shared: "I did Britain's Got Talent in 2012 when I was 11 years old. "That definitely changed my life because after getting to the finals, I was sponsored by Sony Music and Simon Cowell to go to the Sylvia Young theatre school. From those auditions throughout school, I got into the CBBC world." The renowned theatre school in London has been instrumental in launching the careers of numerous music icons such as Amy Winehouse, Adele, Rita Ora, and Dua Lipa. Notable alumni also include singer and actor Billie Piper, Spice Girl Emma Bunton, All Saints' Mel Blatt and Nicole Appleton, Busted's Matt Willis, McFly's Tom Fletcher, and EastEnders' stars Kara Tointon, Letitia Dean, and Samantha Womack. (Image: WireImage)
Scottish Sun
25-05-2025
- Entertainment
- Scottish Sun
People are only just realising EastEnders star Molly Rainford is a nepo baby – would you have guessed her famous dad?
She also has a famous boyfriend GOOD GENES! People are only just realising EastEnders star Molly Rainford is a nepo baby – would you have guessed her famous dad? Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) EASTENDERS star Molly Rainford is a familiar face on telly after landing a role as Queen Vic's pretty barmaid. The star has won a legion of fans playing Anna, the daughter of Cindy Beale. Sign up for the Entertainment newsletter Sign up 5 Molly Rainford is a regular on our TV screens Credit: AFP 5 She is currently a regular in EastEnders, playing Anna Knight - pictured with Colin Salmon and Michelle Collins playing her onscreen parents Credit: BBC 5 Molly met her boyfriend Tyler West when they both starred in Strictly Credit: PA But talented Molly has been working in showbiz for over a decade, and first shot to fame as a finalist on the sixth series of Britain's Got Talent in 2012. Molly became BGT's youngest-ever finalist at the time, at age 11 performing Ave Maria in the final and finishing sixth. Following the show, she won a scholarship at the Sylvia Young Theatre School in London, gifted by Simon Cowell and Sony Music. After finishing school, Molly went on to star in the lead role in CBBC series Nova Jones and released two EPs, including her single Commitment. It set her on the path to stardom and she continued to win big opportunties. Talented singer Molly played the lead in Nova Jones, in the CBBC comedy about the life and adventures of a galactic pop star. She later joined Strictly Come Dancing in 2022 and came runner up with dance partner Carlos Gu. And talent runs in Molly's family. She grew up in Essex living with her dad Dave Rainford and mum Sarah. David is a former Chelmsford City FC midfielder and was an assistant football manager. He started at Colchester United and returned to the team during his senior career in 1997. EastEnders' Molly Rainford chats to the Sun's TV Mag He also played for Slough Town, Heybridge Swifts, Bishop's Stortford and AFC Hornchurch. From 2012 to 2013, Dave was assistant manager for Chelmsford City after joining the team in 2008, and he now works for the Premier League in a top job. Some EastEnders fans have just figured out who her famous dad is, and took to Reddit to discuss it. 'That's a lot of nepotism,' one said. Another rushed to defend Molly, writing: 'None of it is nepotism - it isn't family connections that have helped her out she was just lucky enough to have been given a massive opportunity at a young age.' One more said: 'You keep believing that, you're telling me she got into eastenders for her acting talent?! Everyone knows it's her dad that helped.' 5 David now has a top job at the Premier League
The Irish Sun
25-05-2025
- Entertainment
- The Irish Sun
People are only just realising EastEnders star Molly Rainford is a nepo baby – would you have guessed her famous dad?
EASTENDERS star Molly Rainford is a familiar face on telly after landing a role as Queen Vic's pretty barmaid. The star has won a legion of fans playing Anna, the daughter of Cindy Beale. 5 Molly Rainford is a regular on our TV screens Credit: AFP 5 She is currently a regular in EastEnders, playing Anna Knight - pictured with Colin Salmon and Michelle Collins playing her onscreen parents Credit: BBC 5 Molly met her boyfriend Tyler West when they both starred in Strictly Credit: PA But talented Molly has been working in showbiz for over a decade, and first shot to fame as a finalist on the sixth series of Britain's Got Talent in 2012. Molly became BGT's youngest-ever finalist at the time, at age 11 performing Ave Maria in the final and finishing sixth. Following the show, After finishing school, Molly went on to star in the lead role in CBBC series Nova Jones and released two EPs, including her single Commitment. READ MORE ON MOLLY It set her on the path to stardom and she continued to win big opportunties. Talented singer Molly played the lead in Nova Jones, in the CBBC comedy about the life and adventures of a galactic pop star. She later joined Strictly Come Dancing in 2022 and came runner up with dance partner Carlos Gu. And talent runs in Molly's family. Most read in Soaps She grew up in Essex living with her dad Dave Rainford and mum Sarah. David is a former Chelmsford City FC midfielder and was an assistant football manager. He started at Colchester United and returned to the team during his senior career in 1997. EastEnders' Molly Rainford chats to the Sun's TV Mag He also played for Slough Town, Heybridge Swifts, Bishop's Stortford and AFC Hornchurch. From 2012 to 2013, Dave was assistant manager for Chelmsford City after joining the team in 2008, and he now works for the Premier League in a top job. Some EastEnders fans have just figured out who her famous dad is, and took to Reddit to discuss it. 'That's a lot of nepotism,' one said. Another rushed to defend Molly, writing: 'None of it is nepotism - it isn't family connections that have helped her out she was just lucky enough to have been given a massive opportunity at a young age.' One more said: 'You keep believing that, you're telling me she got into eastenders for her acting talent?! Everyone knows it's her dad that helped.' 5 David now has a top job at the Premier League 5 He previously played for Chelmsford City
Yahoo
24-05-2025
- Health
- Yahoo
SMP Health - Ave Maria breaks ground on new addition
May 23—JAMESTOWN — The new addition will enhance the quality of care for residents of SMP Health — Ave Maria, according to Tonie Stoen, CEO/administrator. A groundbreaking ceremony was held Friday, May 23, for SMP Health — Ave Maria's new addition. "We are thrilled to break ground on the private room project, and we rejoice in the fact that we are able to do that," Stoen said. The estimated cost of the 12,000-square-foot addition is $8.4 million. The project includes building new private rooms and remodeling 16 semi-private rooms and converting them to private rooms, Stoen said. When the addition is complete, Ave Maria will have 60 private rooms instead of only 28. "To say that this project is essential is the understatement of the century," Stoen said. The project is expected to be completed in the summer of 2026. SMP Health — Ave Maria is a Catholic health care ministry that provides short-term rehabilitation — including physical therapy, occupational therapy, speech therapy and respiratory therapy services — and transitional care in addition to traditional skilled nursing and long-term care services to individuals of all faiths, according to its website. Ave Maria is licensed for 100 beds for skilled nursing care as well as short-term rehabilitation, Stoen said. "We have several residents that come short stay and then go back home after therapy," she said. "We have several long-term care residents as well. We also have 58 apartments for our assisted living, which is co-located." Ave Maria has about 230 employees, Stoen said. JT Kennelly, president and CEO of SMP Health, said the Sisters of Mary of the Presentation (SMP) were never driven by selfish needs. "It was always the needs of the community and the love for the individuals in the community that drove the Sisters to grow and to expand," he said. " ... That same love for the people that are served here at Ave Maria, the same love for the community of Jamestown, wanting to make it a better place, is what's driving this addition here at Ave Maria." SMP Health — Ave Maria launched an $8 million "Forward in Faith" capital campaign last fall. Annie Hancock, development director at Ave Maria, said the project wouldn't be possible without the generosity of Ave Maria's supporters. "Every single gift, no matter how big or small, has helped us and it is treasured because it was given with love and intention," she said. "Ave Maria is the special place that it is for so many because of all of you." Stoen said employees have contributed to the capital campaign as well. She said some employees contribute out of their paycheck biweekly toward projects like the new addition. "The project wouldn't be where it is today without the generosity of donors and the support of countless individuals," she said.
