“This is the most corrupt administration in American history,” said one House Democrat. “It is not close.”
Jake Johnson
Jun 30, 2026
COMMON DREAMS
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.
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.”
President Donald Trump’s former lawyer told CNN on Tuesday that the Republican leader is grifting the American people — and it’s stunning.
Ty Cobb, who worked for Trump during his first term, described Trump in this way to CNN host Erin Burnett after she described how the president has earned anywhere from $1 billion to more than $2 billion in his cryptocurrency ventures since resuming office last year.
“This isn't a cumulative number — it's in one year,” Cobb told Burnett. “This is an industry he has actively promoted and supported, and — on policy, executive orders related to it — is it legal? I don't believe so, and certainly I don't think it was contemplated by the Founders when they created the Emoluments Clause.”
After criticizing Trump for making several hundred million dollars off of commemorative coins that include his likeness, Cobb described the cryptocurrency market as “a slimy industry,” adding that “where he creates policies that can only enrich himself and his family, is something that I think the average American should be staggered by.” He similarly denounced the $1.8 billion slush fund that Trump created with acting attorney general Todd Blanche, describing the overall profiteering by the Trump family as “the greatest onslaught of corruption in the history of mankind in the last 18 months” and concluding that “the grift is on. It's stunning.”
Burnett then asked Cobb about reports that the Trump sons used their government connections to close a $1.6 billion deal for tungsten in Kazakhstan.
“It is the shame of the nation, and people should be paying attention,” Cobb said. “Look back at the Iran war — it shouldn't have been started, but once it was started, what did we learn? We learned that the Trump sons have a drone company and have become a huge government contractor. Then you hear this Kazakhstan deal announced — it was announced in November of 2025, when the $1.6 billion in financing was disclosed. What we didn't know was that the Trump sons, just a few weeks earlier — actually just days before the deal was announced — had acquired an interest in a company that has a substantial portion of that deal. And they've only gotten closer, corporately, with the people involved in that deal.”
He concluded, “So we see the 14 companies you were talking about that the Trump sons or the Lutnick sons have an interest in. The amount of guaranteed financing from the United States government for those 14 companies pursuing those deals: $9 billion. So yes, people should pay attention. It is staggering.”
Despite initially working for Trump, Cobb has since emerged as one of his most outspoken critics, even describing him as a “madman” who imperils democracy and urging for the 25th Amendment to be invoked so he can removed from power on the grounds of lack of mental fitness.

A person attends the Conservative Political Action Conference (CPAC) USA 2026 at the Gaylord Texan Resort and Convention Center, in Grapevine, Texas, U.S., March 27, 2026. REUTERS Daniel Cole
The Wall Street Journal reports that not only did President Donald Trump make a cool $1 billion off his connections to the White House, he managed to do it in a way that made his MAGA fans and supporters catch the short end of the grifting stick.
Morten Christensen made a big bet on digital tokens sold by the Trump family’s World Liberty Financial (WLF) last year, hoping that a surge in value might be enough to help him retire. But the WSJ reports the value of those tokens instead tanked.
“While Christensen and many like him lost big, the president made a fortune, netting $800 million from that crypto project, according to a financial disclosure he filed this week.
“In crypto, people say a game is a game,” said Christensen, a digital-asset entrepreneur. “He played a better game than I did.”
Others were much less generous over their losses.
“My investment is trash now,” one user said of their WLF tokens.
"People backed Trump because they believed he would fight for them and were hoodwinked into thinking he cared about the working classes who brought him into power,” said a longtime Republican activist familiar with grassroots sentiment among Trump's MAGA base. “Seeing billions tied to crypto makes some loyal supporters uncomfortable and most of them have no idea what crypto is, let alone have the resources to invest in it. They feel this isn't public service anymore."
“The president raked in cash by issuing new assets — World Liberty tokens and memecoins. But those who bought them at high prices had to suffer as their value went belly up, part of a wider crash in crypto,” reports WSJ. “Political followers and crypto true believers who bought into the Trump brand were left holding the bag. A crypto summer for the president was a crypto winter for them.”
All told, roughly two-thirds of investors in Trump’s memecoin are currently in the red, according to crypto data provider Nansen, which tracks 1.48 million crypto wallets that bought the token since its January 2025 launch. Many fans spent thousands of dollars on Trump coins while the biggest spenders shelled out millions for the token.
Nansen’s analysis of 26,663 wallets shows a whopping 85 percent of World Liberty’s $WLFI token buyers in the secondary market are underwater.
This, said WSJ, was a big step away for a president who in 2021 described bitcoin as a “scam” that threatened the U.S. dollar. Now, however, Trump leads a White House that has pledged to make America the “crypto capital of the world.”
“As his administration lightened regulation of the notoriously boom-and-bust sector, the Trump family’s sprawling crypto business reached into nearly every corner of the industry, drawing conflict-of-interest concerns from ethics watchdogs,” reports WSJ. “Bitcoin prices also plunged.”
The White House, meanwhile, has sworn to unleash "an unrelenting, full-scale assault on the fraudsters, scammers, and corrupt operators who have looted billions from American taxpayers," with the White House Task Force to Eliminate Fraud moving "at unprecedented speed and ferocity to root out the waste, abuse, and criminal exploitation ... "that have drained billions from hardworking taxpayers."

U.S. President Donald Trump reacts as he speaks during the signing ceremony for an executive order on mail ballots, in the Oval Office of the White House in Washington, D.C., March 31, 2026. REUTERS Evan Vucci
Sources close to the White House told RADAR Online in a Wednesday story that members of President Donald Trump’s stalwart followers are finally getting furious at all the money he keeps generating off the White House.
"People backed Trump because they believed he would fight for them and were hoodwinked into thinking he cared about the working classes who brought him into power,” said a longtime Republican activist familiar with grassroots sentiment among Trump's MAGA base. “Seeing billions tied to crypto makes some loyal supporters uncomfortable and most of them have no idea what crypto is, let alone have the resources to invest in it. They feel this isn't public service anymore."
RADAR reports Trump triggered fresh criticism after financial disclosures showed he earned more than $1.4 billion from cryptocurrency ventures during his first year back in the White House, on top of other profits Trump has managed to grab for himself and his family in the last few months. First Lady Melania Trump herself also earned at least $10.7 million due to her controversial and critically-maligned documentary, "Melania."
Another MAGA source speaking with RADAR Online added: "Many voters won't begrudge Trump's success, but these numbers are staggering. Critics inside the MAGA movement are calling it shameful and asking whether the presidency is becoming Trump's personal cash machine."
Trump has also earned $290 million from his businesses including $77 million from Mar-a-Lago and additional profits from Trump National Doral, Bedminster and Trump National Washington DC. He additionally pocketed $86 million from settlements with media and social media companies like ABC, CBS, Meta, YouTube and X.
“This isn't a cumulative number — it's in one year,” former Trump attorney Ty Cobb, who worked for Trump during his first term, told CNN’s Erin Burnett on Tuesday. Cobb was referring to Trump earning between $1 billion and $2 billion from his cryptocurrency ventures since assuming office for his second term in early 2025. “This is an industry he has actively promoted and supported, and — on policy, executive orders related to it — is it legal? I don't believe so, and certainly I don't think it was contemplated by the Founders when they created the Emoluments Clause.”
In April MS NOW News reporter Alex Tabet pointed out that people are investing in Trump’s cryptocurrency coin not because of its intrinsic value but because it grants them access to the president.
“Let me break down how this Mar-a-Lago crypto conference works,” Tabet wrote. “So, the top 297 holders of this Trump Coin — which buying, by the way, enriches the Trump family — gets you invited to the conference. The top 29 buyers of the coin get a special VIP reception with President Trump, complete with champagne.”
He added, “And if I were one of those 29 people, I'd be hoping it's a bottomless brunch because the value of the Trump Coin has been absolutely decimated. The coin is down more than 84 percent in the last year, down 96 percent from its peak. So, I wouldn't be surprised if some of those attendees today were using those champagne flutes to catch their tears.”
Bennito L. Kelty
June 30, 2026

FILE PHOTO: U.S. President Donald Trump speaks next to Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, CEO of Cleveland Clinic Tom Mihaljevic and CEO of G42 Peng Xiao as he attends a business forum at Qasr Al Watan during the final stop of his Gulf visit, in Abu Dhabi, United Arab Emirates, May 16, 2025. REUTERS/Brian Snyder/File Photo
CNN analysts stressed the gravity of revelations of Trump's major profits from cryptocurrency.
According to a New York Times report, the Trump family profited to the tune of $1.4 billion through their cryptocurrency business. CNN anchor Anderson Cooper described the revelations as "incredible" and "stunning" as he spoke with other analysts. According to the Times report, Trump reeled in more than $2.2 billion in total revenue in 2025.
"It really is hard to overstate just how unusual and how historic this is," New York Times investigative reporter Eric Lipton told Cooper.
According to Lipton, the United Arab Emirates and Qatar bought half of the Trump family's crypto business. Lipton pointed out that the sons of Steve Witkoff, who was involved in negotiations with Iran, were also invested.
"We're talking about billions of dollars of financial ties between the UAE and the Trump family, at the same time as he is negotiating, sharing some of the most advanced technologies humans have ever created, and these AI chips with the UAE," Lipton explained. "There are enormous implications in foreign policy that are mixed up with the personal financial interests of the president."
Veteran tech journalist Kara Swisher said the Trump administration is "a coin-operated presidency, really. You just put money in to give to him, and then he gives you other things, and this is exactly what's happening with the crypto stuff."
She described the news of Trump's crypto profits as "astonishing," and mentioned that Trump's family is also profiting from a recent mining deal with Kazakhstan.
"It's a vig," Swisher said, using a loansharking term. "They go around from country to country shaking people down."
Bennito L. Kelty
June 30, 2026
RAW STORY

U.S. President Donald Trump speaks alongside Howard Lutnick in the Oval Office of the White House on the day Lutnick is sworn in as U.S. Commerce Secretary by Vice President JD Vance, in Washington, DC, U.S., February 21, 2025. REUTERS/Nathan Howar
A presidential historian is sounding the alarm about a recent mining deal that's expected to enrich the Trump family.
"The audacity is so off the Richter scale," Douglas Brinkley said about a deal between the Trump administration and Kazakhstan to access one of the world's largest untapped reserves of tungsten.
The New York Times reported on the $1.6 billion tungsten mining deal with the Central Asian country. The Times noted that the sons of both Trump and Commerce Secretary Howard Lutnick stand to benefit. Tungsten is used in "missile warheads, fighter jets, computer chips, and other critical goods," the Times noted.
Brinkley reacted to details of the deal as reported by the NY Times during an appearance on The Jim Acosta Show on Tuesday.
"People aren't sure what's even going on," Brinkley said. "You have to hope the law will eventually hold President Trump accountable if he did some things that are illegal and illicit, but the law moves slowly."
Brinkley agreed with host Jim Acosta's assessment that Trump's self-enrichment during his second term is unprecedented.
"Just think, not that long ago, there was a scandal because Jimmy Carter's brother Billy had a beer, or you know, Neil Bush got involved with a bit of a hedge fund banking thing run a little bit amok," Brinkley said. "They're so small, and then this is such a huge wake-up call, people."
The way Brinkley sees it, "you're having a president of the United States using the White House for personal self-enrichment of a kind of mind-boggling audacity," adding that "it's a crisis, but we've got to get through it."
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