Main Topic: Former President Donald Trump's legal woes are costing his political operation millions of dollars.
Key Points:
1. Trump's Save America PAC has spent over $20 million on legal fees in the first six months of 2023, accounting for two-thirds of its total spending.
2. The PAC has been covering Trump's legal expenses and those of his associates involved in multiple investigations.
3. The legal bills have significantly depleted the PAC's funds, leaving it with less than $4 million in cash on hand.
Cryptocurrencies, including Bitcoin and Ethereum, experienced a rise in value as investors anticipated the Federal Reserve's annual meeting and Bitcoin attempted to reach $30,000.
The price of Donald Trump's NFT collection, featuring baseball card-style digital trading cards, surged after his appearance on a viral interview show, with the cards selling for $215 (0.13 ether) compared to last week's $150 (0.1 ether) price, and the collection has generated over $29,000 in volume so far.
Hundreds of millions of dollars worth of crypto assets have been liquidated as Bitcoin's price falls below $26,000, with the majority of the liquidations coming from exchanges such as OKX, Binance, and ByBit.
Former President Donald Trump is alleged to have inflated his net worth by as much as $3.6 billion between 2011 and 2021, according to lawyers for the New York attorney general, a significant increase from previous estimates.
New York state's attorney general has accused Donald Trump of potentially fraudulently inflating his net worth by up to $3.6 billion per year, as part of her civil lawsuit against the former president and his family business.
New data reveals that there are now over 180 individuals worldwide who own at least $100 million worth of crypto assets, with almost half of them obtaining their wealth from holding or trading Bitcoin.
Deep-pocketed crypto investors have moved over $660 million worth of Bitcoin, Ethereum, and Chainlink as Bitcoin's price drops below $27,000.
Former President Donald Trump is challenging a judge's ruling that he committed fraud by inflating the value of his property, Mar-a-Lago, as records show he agreed to a much lower valuation of $26.6 million in 2020.
The Trump defense in the ongoing case is attempting to rehash previously debunked arguments while facing potential existential threats to the Trump Organization and Donald Trump's personal identity if a final judgment in the range of $250 million is reached. The testimony of the accountant who filled out Trump's tax returns for the past 15-20 years is expected to shed light on the gap between what the Trump Organization knew and what they presented to banks for loans, highlighting potential fraud.
Manhattan Judge Arthur Engoron has reiterated that Donald Trump's Mar-a-Lago estate is valued at $18 million, rejecting Trump's claims that it is worth $1 billion, but also pleaded with the media to stop reporting that he made the valuation himself, as it was determined by local officials.
Investing $1,000 in Trump NFTs could have returned a profit of 135% in around 10 months, with the investment now worth $2,350.10, despite a drop from the peak price, while investing the same amount in the S&P 500 would result in a hypothetical return of 8.9%.
Bitcoin (BTC) could reach $120,000 and outperform gold, according to the co-founders of crypto analytics firm Glassnode, who predict the BTC/XAU trading pair will soar to 98 times the price of gold by early 2024.
Arthur Hayes, the co-founder of cryptocurrency exchange BitMEX, predicts that the price of Bitcoin will reach $750,000 to $1 million by 2026 due to a major financial crisis and endless cycles of central bank printing that lead to inflation, preventing natural market cycles of growth and correction. He believes that mounting debt, out of control inflation, and the insolvency of the US banking system will contribute to Bitcoin's rise. However, he also expects a significant drawdown in BTC price after each bull market.
Deutsche Bank's former risk manager believed Donald Trump's claims about his net worth were accurate when approving a $125 million loan, however, New York Attorney General Letitia James claims that Trump's financial statements were fraudulent.
The Trump Organization considered adding a "presidential premium" to Donald Trump's net worth during his presidency, as revealed in a fraud trial against the company, where an executive testified that valuations of Trump properties were proposed to be increased by 15% to 35% due to his status as the sitting president.
Crypto investors have moved over $500 million worth of Bitcoin, Ethereum, and other digital assets to cryptocurrency exchanges and unknown wallets, according to data from Whale Alert.
