Latest news with #BillZanker
Bloomberg
5 days ago
- Business
- Bloomberg
Trump Crypto Feud Heats Up With Cease-and-Desist Letter
Tensions between the competing factions of Donald Trump's ever-growing crypto empire are ramping up, with a company owned in part by the president's sons sending a cease-and-desist letter to the organization behind his lucrative memecoin. World Liberty Financial, which the Trump family has a major stake in, sent the letter to Fight Fight Fight, the company responsible for the memecoin, which is run by the president's long-time friend and promoter, Bill Zanker, according to a person familiar with the matter who asked for anonymity, because the letter hasn't been made public.
Yahoo
22-05-2025
- Business
- Yahoo
Senator has a shocking response to Trump's VIP dinner
On May 22, a public dinner marketed as "The Most Exclusive Once in a Lifetime Invitation" will allow the top 220 holders of the Trump-linked meme coin, TRUMP, to personally meet U.S. President Donald Trump. The VIP gala dinner, organized by Trump associate Bill Zanker, has drawn backlash for commodifying the political space and profiting from the crypto sector. Zanker, co-author of a book with Trump in 2007, has developed various products tied to Trump's brand, including NFTs, sneakers, and cologne. He has been notably instrumental in discreetly monetizing Trump's presence in the crypto market. According to Chainalysis, Zanker's company, Fight Fight Fight LLC, is responsible for the TRUMP meme coin, which has generated an estimated $300 million in fees for firms connected to Trump and Zanker. On Dec. 8, 2024, President Trump launched his perfume line on Truth Social with a picture of then-first lady Jill Biden, stating, "A fragrance your enemies can't resist!" Bloomberg now reports that Zanker is known to have been behind the fragrance and meme coin. The dinner invitation has raised the price of TRUMP and, subsequently, the value of tokens held by individuals linked to the president. At press time, TRUMP was trading at $14.64, reflecting a rise of 1,111.09% since its launch on January 19. The meme coin's page indicates that 80% of the tokens are allocated to CIC Digital LLC, a subsidiary of The Trump Organization. According to Bloomberg, that share is valued at over $2.1 billion. Critics, including ethics watchdogs and U.S. Senator Richard Blumenthal, contend this arrangement enables wealthy token holders to effectively "buy" access to the president, which raises significant conflict of interest concerns. This is primarily because some guests, including crypto billionaire Justin Sun, are under regulatory scrutiny from the U.S. government.
Bloomberg
16-05-2025
- Business
- Bloomberg
Trump's Crypto Project Pushes Back on Senate Inquiry
Attorneys for Donald Trump's World Liberty Financial crypto project pushed back against claims about potential conflicts of interest raised by the Democratic head of a Senate investigative subcommittee. 'The company has exercised rigorous diligence to ensure compliance with applicable legal and regulatory obligations at every stage,' World Liberty lawyers wrote in a letter dated May 15. The crypto project also denied there is any affiliation with Fight, Fight, Fight, LLC, the firm that launched the Trump memecoin, and its chief executive officer, Bill Zanker.
Bloomberg
16-05-2025
- Business
- Bloomberg
Trump's Crypto Project Pushes Back on Senate Panel Inquiry
Attorneys for Donald Trump's World Liberty Financial crypto project pushed back against claims about potential conflicts of interest raised by the Democratic head of a Senate investigative subcommittee. 'The company has exercised rigorous diligence to ensure compliance with applicable legal and regulatory obligations at every stage,' World Liberty lawyers wrote in a letter dated May 15. The crypto project also denied there is any affiliation with Fight, Fight, Fight, LLC, the firm that launched the Trump memecoin, and its chief executive officer, Bill Zanker.
