Again, Coindesk had the lead story today, on Trump’s loony supposed crypto / decentralized finance moves.
The outlet has a copy of Tangerine’s white paper setting out a purported mechanism to let MAGA world turn its collective back on trad-fi / banking — and “stick it to the man”.
Uh-huh.
Except that Trump charges each participant a 70% “vig” fee, off the top.
That is, Trump and sons take 70% of all tokens for free (to them), and leave regular MAGAts contributing 100% of the risk capital, but only seeing 30% participation.
Most legit DeFi protocols offer splits that are exactly flipped from this: the capital infusers get no less than 70% to 80% of the tokens, and founders / facilitators accept no more than 20% (or 30% in some cases).
In sum, Trump’s answer… is to just confiscate whatever you were looking to do through a regular bank — for his own pocket (charging 70% vig). And you’re asked to trust that he will make smart moves with your money. [Kinda’ like his six casino bankruptcies.]
Damn… he’s a lumbering fat old crime spree.
Nothing more.
Out.
Powerline Lies... 