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Trump Pumps His Crypto Donors' Bags - The Monday AM Quickie 3/3/25

By Jacob Silverman —

Turns out the supposed free-speech absolutists are the real threats to free speech. –Jacob

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THE BIG NEWS

Trump Announces National "Crypto Stockpile" To Pump His Donors' Bags

The federal government is getting into the crypto business. Following through on one of his more transactional campaign promises, President Donald Trump announced yesterday the formation of a national "crypto stockpile," which will conveniently include digital tokens favored by some of Trump's donors and top appointees, like White House AI and Crypto Czar David Sacks.

"A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA," Trump wrote on Truth Social. "I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!"

Perhaps realizing that he was forgetting about some of his financial backers, Trump later followed up with a promise of more tokens: "And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!"

By purchasing and holding cryptocurrencies, the federal government will juice their value – indeed, there already was a dramatic spike in token prices after Trump's announcement, and there are signs that some well-connected insiders might have reaped huge gains by trading in anticipation of the news. This is a blatant giveaway to Trump's wealthy crypto donors, using taxpayer dollars – real money that has value, unlike crypto.

World Leaders Rally Around Zelensky After Trump and Vance Insults

On Friday, an Oval Office meeting devolved into a bitter argument between Ukrainian President Volodymyr Zelensky and President Donald Trump and Vice President JD Vance. As Republicans rallied to denounce Zelensky as an ungrateful US puppet, British Prime Minister Keir Starmer gave Zelensky a fulsome welcome as he introduced his own peace plan alongside 17 other world leaders. Conscious that the US may no longer be on their side, Ukraine's European allies are trying to assemble their own "coalition of the willing" to provide an alternative settlement.

Kremlin Spokesman Approves of Trump's Foreign Policy

Russian President Vladimir Putin seems pleased with Trump's new foreign policy, in which he seems intent on abandoning old alliances in favor of a new pro-Russia tilt. "The new administration is rapidly changing all foreign policy configurations," said Kremlin spokesman Dmitry Peskov, according to WaPo. "This largely aligns with our vision."

It's not just Ukraine. Defense Secretary Pete Hegseth "ordered U.S. Cyber Command to halt offensive operations against Russia," anonymous US officials told the New York Times. The unusual order has alarmed national-security insiders.

QUICKEST QUICKIES

  • Israel Blocks All Shipments Into Gaza Israeli Prime Minister Benjamin Netanyahu announced that his country was blocking all shipments into Gaza, including food and humanitarian aid – a clear violation of international law. Hamas officials accused Israel of trying to undermine the ceasefire agreement. via AP News, WaPo, and Drop Site News.
  • Palestinian-Israeli Documentary Wins At Oscars "No Other Land," a documentary about the Israeli military occupation of the Palestinian West Bank that has struggled to find US distribution, won best documentary at last night's Oscars. The Israeli and Palestinian filmmakers behind the doc gave a measured plea for coexistence and Palestinian human rights. via THR.
  • Trump Prepares To Address Congress President Trump will give address a joint session of Congress tomorrow. Democratic politicians have invited government workers who have been fired by DOGE in order to show the devastation already wrought by Elon Musk's austerity project. via NYT.
  • Protesters Greet JD Vance At A Ski Resort After confronting Ukrainian President Volodymyr Zelensky as an insufficiently grateful US proxy, JD Vance went skiing in Vermont, where he was met by protesters. At least 1,000 people showed up to heckle the VP, according to local media. via Politico and VT Digger.

SOME NUMBER

110,390

That's how many federal employees have left the government workforce since Trump took office, according to Layoffs.FYI. Originally started to track tech sector layoffs during the pandemic, Layoffs.FYI has now become a source to follow DOGE's mass firings.

ON THE SHOW TODAY

3/3: Happy Monday! Sam and Emma speak with Van Jackson, senior lecturer in international relations at Victoria University of Wellington in New Zealand and writer of the Un-Diplomatic newsletter on SubStack, to discuss his recent book The Rivalry Peril: How Great-Power Competition Threatens Peace and Weakens Democracy, co-authored with Michael Brenes.

DON'T MISS MR CLIPS‌

Mike Johnson Thinks You're Really Stupid

The self-satisfied smirk betrays the lie.

Dave Rubin Gets Absolutely Destroyed On Piers Morgan

Gary Stevenson, a former finance guy with Bernie Sanders' politics, took Rubin to school.

PARTING WORDS

"What Zelensky did, unfortunately, is that he found every opportunity to try to ‘Ukraine-splain’ on every issue."

-- Secretary of State Marco Rubio criticizing Ukrainian President Volodymyr Zelensky for having the temerity to speak with some authority about Ukrainian affairs when ambushed in the Oval Office by Donald Trump and JD Vance.

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