Week 15: Trump, Binance and MGX—A Crooked Match Made In Dubai
Trump Family and Friends Continue to Erode Ethics, Press Freedom, and Consumer Protections.
Welcome to Week fifteen of the Revolving Door Project’s Corruption Calendar, where we highlight examples of corporate corruption shaping the Trump administration’s agenda and their material impact on everyday people. Read our first fourteen issues here and follow us on Bluesky and X for #CorruptionCalendar updates.
This week, the Trump family continued to blur the line between politics and business with Trump 2028 merch and a billion dollar deal with Binance and MGX. Trump Jr. and Eric Trump’s potential stock sales and a new elite Washington club further expose this convergence. President Trump’s pardons of allies, Elon Musk’s apparent sway over personnel picks, and the rollback of consumer and coal miner protections add to the ethical concerns. Meanwhile, Rep. Marjorie Taylor Greene’s timely stock trades and the resignation of “60 Minutes” executive Bill Owens amid pressure from Paramount executives highlight the deepening entanglement of public office, private business, and media, raising alarm growing erosion of norms and the rule of law.
THE TRUMP FAMILY’S UNSATIABLE APPETITE FOR CORRUPTION
Conflicts of Interest Galore in Dubai. Reporting from Dubai yesterday, New York Times’ David Yaffe-Bellany revealed details of the $2 billion business deal involving Trump’s crypto business World Liberty Financial, Binance and Abu-Dhabi backed investment firm MGX. The state backed firm plans to invest $2 billion worth of World Liberty Financial’s stablecoin USD1 in Binance, likely generating hundreds of millions of dollars for Trumpworld. That’s three separate layers of corruption: the Emirati government’s use of Trump’s crypto coins to conduct business; a new partnership between World Liberty Financial and Binance, an admitted violator of anti money laundering laws; and an invitation to all tap into this new pathway to curry favor while making the president’s family richer.
(RELATEDLY: There might be a vote on pro-crypto legislation in the Senate as soon as next week, and rumors suggest that several prominent Democrats are working in concert with Trump and the crypto industry to ensure crypto becomes a permanent fixture in America’s financial sector.)
Influencer President Signals Once Again That Presidential Term Limits Are A Mere Suggestion. Trump Store, the official retail website of The Trump Organization, is now selling “Trump 2028” merchandise. The president’s latest attempt to profit off the office and his supporters. Monetizing the presidency is not new to Trump, but this cash grab features another Trump characteristic: blatant disregard for the Constitution, and by extension, the American people. Trump has repeatedly hinted at pursuing a third term, citing vague “methods” and “loopholes,” though he recently claimed he doesn’t believe in using them.
Trump Jr. Puts Executive Branch Access Up For Sale. $500 thousand. That’s the price to join Executive Branch—Donald Trump Jr. and mega donor Omeed Malik’s latest scheme to sell access to the presidency. Per Politico, the goal here is to “create the highest-end private club that Washington has ever had, and cater to the business and tech moguls who are looking to nurture their relationships with the Trump administration.” Trump Jr. and Malik are joined as co-owners by Chris Buskirk, Zach, and Alex Witkoff. *We initially misreported the price to join Executive Branch as $500 million. We apologize for the error.
Incoming Payday For The Trump Brothers? Forbes recently reported on a potential multi-million payday for Donald Trump Jr. and Eric Trump. Based on an analysis of SEC filings, the business magazine found that the brothers may sell up to a combined $9.6 million in stock acquired from their roles on a once largely inactive advisory board for Dominari Holdings, a Nasdaq-listed company headquartered in Trump Tower. It’s a healthy return for their bogus roles on board whose existence basically coincides with their appointment. According to Forbes, “Dominari Holdings did not file its advisory board agreement with the SEC until Feb. 12, a day after announcing the Trumps’ appointments. An online search also found no public evidence of the advisory board’s existence before then.”
MUSK’S TARIFF EXEMPTION
85%—Musk’s Magic Number. Commerce Secretary Lutnick announced that no tariffs will be applied to cars finished in the United States with 85% or more domestic content. According to a mid-2024 study of vehicles by the Kogod School of Business, only three vehicles received a total domestic content score of 85% or higher—the Tesla Model Y, Model Y Long Range, and the Model 3 Performance. This development is a clear win for Musk, especially given that the Model Y is by far the company’s top-selling vehicle.
Musk Vets Potential Business Partner. Elon Musk reportedly attended Trump’s interview with Air Force secretary nominee Troy Meink, a highly unusual move that has become the norm in Trump’s Washington. As CEO of SpaceX, a recipient of billions of dollars in national security and defense contracts, Musk’s involvement in the selection process is a clear red flag. The situation is even more troubling given Meink’s potential ties to Musk. In February 2025, Senators Elizabeth Warren and Tammy Duckworth questioned whether Meink had tailored the requirements of a 2021 classified satellite contract to favor SpaceX. One thing is clear: any Air Force contracts that go to Musk’s companies must be thoroughly investigated.
DOGE Agent Gets In On The Corruption. A new ProPublica investigation has uncovered a potential conflict of interest involving Gavin Kliger, a 25-year-old Department of Government Efficiency (DOGE) employee who played a key role in executing the Trump administration’s downsizing of the Consumer Financial Protection Bureau (CFPB). Kliger holds up to $365,000 in stock across four companies that either fall under the CFPB’s regulatory authority or are barred under agency investment guidelines. According to his financial disclosure, Kliger owns between $15,000 and $50,000 in Apple stock and between $100,000 and $250,000 in Tesla, both of which are regulated by the CFPB.
DOGE Eyes OCC’s Budget Surplus. In a major scoop this past Wednesday, Capitol Forum reported on DOGE’s plans to confiscate $1.6 billion from the Office of the Comptroller of the Currency (OCC), the national bank regulator. The OCC maintains a reserve fund with the fees it collects from the banks it oversees to ensure budget stability. It’s not clear what DOGE seeks to do with the surplus, but one obvious option would be to facilitate a return to the banks, which would simultaneously weaken the regulator and strengthen banks’ bottom line.
CORPORATE INTERESTS ARE THE ONLY PRIORITY
Whose Data? Yours? Experian’s? TransUnion’s? In December 2024, the Consumer Financial Protection Bureau proposed a rule to “protec[t] consumer information in the data broker market” and “protec[t] consumer information from unauthorized disclosure by consumer reporting agencies.” The proposed rulemaking aimed to limit the often careless sale and sharing of people’s sensitive personal information. Fast forward four or so months and the rule is now under threat as repeat offenders—Experian and TransUnion—lobby Congress and the disemboweled CFPB to reverse course. Since January 2024, both companies, along with trade groups representing fintech and data broker interests, have spent over $4.7 million lobbying regulators and lawmakers to block the rule—Experian contributed over $2 million and TransUnion spent $415,000.
Prosperity for BigCoal, Cuts and Cancer for Miners. In early April, Trump signed four executive orders aimed at reviving the coal industry. The orders call for new leases for coal mining on federal, loosened emissions standards at coal plants and for the Justice Department to take legal action against any impeding state laws. These moves to breathe life into the polluting industry are patently cruel when contrasted with the administration’s cuts to Part 90—a federal program that relocates miners with black lung to similarly paid desk jobs. There is a rising black lung epidemic, especially among younger miners, even as coal production declines. Staff shortages have raised alarms among experts, who warn that weakened enforcement of safety regulations could drive a surge in black lung disease cases.
ALL FRIENDS ARE ABOVE THE LAW
Pardon For Thieving Healthcare Exec. Late last week, Trump pardoned healthcare executive Paul Walczak just 12 days after he was “sentenced to 18 months in prison and ordered to pay nearly $4.4 million in restitution” for stealing millions from healthcare workers’ paychecks. Walzcak is the son of Betsy Fago, a Republican donor who worked to undermine Joe Biden’s 2020 campaign by circulating the contents of Biden’s daughter’s diary at a fundraiser in her home.
No Prison Time for Outspoken Conservatives. President Trump pardoned Michele Fiore, a former Nevada state assembly member and RNC Committeewoman convicted of wire fraud. She faced up to 140 years in prison. Despite her October 2024 conviction on six counts of wire fraud and one count of conspiracy, the White House defended the pardon by citing her "outspoken conservative views" and claiming she was politically targeted. Prosecutors had shown that Fiore solicited donations under the pretense of funding public statues, even though a private developer had already committed to covering the full cost. Fiore then diverted the funds for personal use, including plastic surgery, rent, and her daughter's wedding.
TRUMP ALLY MARJORIE TAYLOR GREENE NETS BIG IN APRIL
Marjorie Taylor Greene—Market Expert Or Plain Old Cheat? Palantir has surged 50% in the three weeks since Representative Marjorie Taylor Greene acquired stock in the company on April 8 2025. Palantir wasn’t the only strong performer in her portfolio—Tesla gained 32%, RFID technology firm Impinj rose 43%, and Southern Copper climbed 22%. While there is yet to be conclusive evidence of misconduct, Greene’s acquisition of Palantir stock came right before Palantir revealed a $30 million deal with Immigration and Customs Enforcement (ICE) on April 17. As a member of the House Committee on Homeland Security, Greene may have had access to information about such contracts.
YES DEAR LEADER, WE WILL COMPROMISE OUR INDEPENDENCE FOR MERGER APPROVAL
Longtime 60 Minutes Executive Producer Bill Owens Stands Up For A Free Press. “60 Minutes” long-time Executive Producer Bill Owens recently quit after the network’s parent company, Paramount, began overseeing content more closely while attempting to finalize its merger with Skydance Media. Paramount needs the Trump administration’s approval for the merger. Though no stories had been blocked, Owens felt this new supervision compromised the independence needed for honest journalism. Owens' resignation comes amid a $10 billion lawsuit from President Trump over a disputed "60 Minutes" interview with Kamala Harris, which Trump claimed was grossly mis-edited by CBS at the Harris campaign’s direction. Trump has also called for CBS to lose its license and urged the Federal Communications Commission (FCC) to take action. Paramount’s increased oversight, coupled with the lawsuit and pressure from the Trump administration, underscores a larger issue of press freedom being undermined by external forces such as corporate mergers and political interference.
Major resource updates this week include:
Inspectors General Tracker, our latest tracker monitoring Trump’s replacement of the seventeen Inspectors General he wrongly dismissed at the start of his administration. Inspectors General are a crucial part of the apparatus that keeps the government accountable to the public it is supposed to serve.
A Tracker of the Trump administration’s anti-vaccine actions, which will be continuously updated to reflect any major actions taken by the Trump administration to disrupt vaccine research, production, or uptake within the public.
For more on our work tracking the Trump-Musk administration, visit DogeWatch.
And if you’ve got any tips on DOGE personnel, updates to any of our Trump-Musk Admin trackers, or information on companies seeking exemptions from Trump’s tariffs? Reach out to us at revolvingdoorproject@protonmail.com.
This was an excellent post. There is a discrepancy, however in the part about Don, Jr.'s "Executive Branch" club. Other outlets are reporting the dues as $500,000 -- not $500,000,000.