Sam Kessler

Sam Kessler

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Dep. Managing Editor @coindesk reporting on memes, dreams, and schemes // skesslr(at)http://proton.me (tips) // sam.kessler(at)http://coindesk.com (pitches)

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SCOOP: Days before the inauguration, the Trump family secretly signed away 49% of World Liberty Financial, their crypto company, in a deal with a U.A.E. royal, acc. to documents and people familiar. The $500M investment came months before the U.A.E. won access to U.S. AI chips🧵

NEW: Movement Labs — the crypto startup backed by Trump’s World Liberty Financial — quietly promised early insiders access to up to 10% of its token supply, according to new documents obtained by @CoinDesk. None of it was disclosed to investors.

Rentech was created by Galen Law-Kun, a Singapore-based financier who says it’s a subsidiary of his company Autonomy. He says Rentech didn’t deceive anyone — it’s a real financial services vehicle meant to connect crypto projects with Asian family offices.

Movement is now investigating whether it was misled into the deal. But the paper trail is clear: it made a deal that — intentionally or not — may have helped insiders dump tokens on day one. In crypto, deals like this are often whispered about. Rarely do we see the receipts.

NEW: @movementfdn signed a deal loaning ~50% of its circulating ecosystem supply to @Web3Port_Labs. The day after MOVE debuted on exchanges, accounts linked to @Web3Port_Labs dumped 66M tokens, leading @binance to ban it. 🧵@CoinDesk obtained the contracts and much more:

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