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What Next | Daily News and Analysis

TBD | Trump’s Crypto Gurus

What Next | Daily News and Analysis

Slate Podcasts

News, News Commentary, Daily News

4.32.4K Ratings

🗓️ 11 October 2024

⏱️ 26 minutes

🧾️ Download transcript

Summary

The crypto project “World Liberty Financial,” which was announced on X by Donald Trump, isn’t a cryptocurrency, nor a crypto-exchange, nor is it actually run by any Trumps. The truth is even stranger.  Guest: David Yaffe-Bellany, New York Times reporter Want more What Next TBD? Subscribe to Slate Plus to access ad-free listening to the whole What Next family and all your favorite Slate podcasts. Subscribe today on Apple Podcasts by clicking “Try Free” at the top of our show page. Sign up now at slate.com/whatnextplus to get access wherever you listen. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Just a heads up. There's a little swearing in this episode. There is no nobility in poverty. If you've seen the

0:19.0

Wolf of Wall Street, then you are familiar with Jordan Belfort. I have been a rich man and I have been a poor man and I choose rich every fucking time.

0:27.8

Because at least it's a rich man when I have to face my problems I show up in the back of a limo wearing a $2,000 suit

0:36.0

and a $40,000 gold fucking watch.

0:39.4

That's Leonardo DiCaprio playing Belfort. Salesmen, stockbroker, criminal, and now long

0:46.7

after the events in that movie, cryptocurrency enthusiast. Which is how New York Times reporter David Yaffey Bellany found himself at the real Jordan

0:57.0

Belfort's house in Miami a few years ago, covering a crypto seminar.

1:01.3

I remember everyone gathered in the backyard on the first day for a kind of like introduction,

1:07.6

you know, meet and greet sort of event with mid-daughter omelets and mimosas and other fancy breakfast stuff and everyone was kind of milling around for 20 minutes and Jordan hadn't shown up yet.

1:18.3

And then finally he kind of emerges from a porch which is sort of elevated and people kind of look up as he sort of

1:25.2

walks out in, you know, faded jeans and sunglasses and sort of stares down at his empire.

1:32.2

And I remember he made a comment about how everybody was a man and he was like, oh, we got to get some more

1:36.5

feminine adoption of cryptocurrency, maybe next year. here.

1:48.0

There was someone else there that day who David met. Another crypto fan, a guy with the improbable name Chase Hero.

1:53.0

And he's just kind of like an instant jolt of energy and you could tell that the guys loved him.

1:59.0

You know, he talked really fast, he was kind of throwing out crypto jargon, you know, he swore a lot and it was just a kind of like sort of very broy vibe and you know clearly Jordan's guests were enjoying themselves and I remember thinking like I've never heard of this

2:15.4

guy you know does he have any like real background in the crypto industry but you know he

2:20.3

sounded really impressive he was a good he was a good talker but the end of the day

2:24.4

David says guys were lining up to get Chase Hero's number would you ever have

2:29.7

predicted that he would go into business with Donald Trump.

2:33.0

So I didn't hear anything about Chase Hero for the next two years.

2:37.0

He's not really a prominent figure in the crypto world.

...

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