Chuck Darwin<p>Trump has long made a practice of telling potential supporters what they want to hear. </p><p>This year, he has also changed previous policy positions in ways that would benefit some of his party’s largest donors. </p><p>In March, for example, he publicly reversed course on forcing the sale of the Chinese-owned social-media app TikTok, <br>despite having signed an executive order, <br>in August, 2020, <br>stating his intention to ban the app if it was not sold to a U.S.-based buyer within forty-five days. </p><p>Back then, Trump warned that a Chinese company owning so much of Americans’ personal data was a national-security threat. </p><p>But this winter, when the Biden Administration endorsed a bipartisan bill to force TikTok’s sale, <br>Trump came out against the measure. </p><p>On Truth Social, he wrote, <br>“If you get rid of TikTok, Facebook and Zuckerschmuck”<br>—his derogatory name for Facebook’s C.E.O., Mark Zuckerberg<br>—“will double their business.” </p><p><a href="https://c.im/tags/Steve" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Steve</span></a> <a href="https://c.im/tags/Bannon" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Bannon</span></a>, Trump’s former adviser, posted another explanation for the about-face: <br>“Simple: Yass Coin.”</p><p>Days earlier, at an event in Florida for the conservative group Club for Growth, <br>Trump had met with <a href="https://c.im/tags/Jeff" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Jeff</span></a> <a href="https://c.im/tags/Yass" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Yass</span></a>, a major investor in TikTok’s parent company, ByteDance. </p><p>Yass, a libertarian-leaning Wall Street billionaire who started out as a professional poker player, <br>has not officially endorsed Trump or donated directly to him. </p><p>Instead, he has given more than $25 million to the "Club for Growth" pac, which is supporting the ex-President’s reëlection. </p><p>(According to OpenSecrets, Yass and his wife have contributed more than $70 million to conservative candidates and causes this election cycle.) </p><p>Yass also appears to have had a hand in Trump’s personal enrichment. </p><p>This spring, the company behind Truth Social merged with Digital World Acquisition Corp., <br>a company in which Yass’s trading firm, Susquehanna, <br>was the single largest institutional investor. </p><p>Truth Social went public in March, and Trump’s majority stake in the company is now worth an estimated $3 billion.</p><p>Perhaps the most striking example of the former President’s donor-friendly flexibility in 2024 has been his shift on the <a href="https://c.im/tags/cryptocurrency" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>cryptocurrency</span></a> industry. </p><p>In recent years, he was unambiguously critical of bitcoin, <br>the most widely traded digital currency, <br>saying it <br>“seems like a scam” and “potentially a disaster waiting to happen.” </p><p>But, in 2024, he became an unapologetic promoter of it, attracting contributions from major players in the field, <br>such as the twin brothers <a href="https://c.im/tags/Cameron" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Cameron</span></a> and <a href="https://c.im/tags/Tyler" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Tyler</span></a> <a href="https://c.im/tags/Winklevoss" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Winklevoss</span></a>, <br>each of whom donated $1 million in bitcoin to help Trump. </p><p>The former rowing stars who famously sued Zuckerberg, their classmate at Harvard, for allegedly stealing the idea for Facebook, <br>went on to found the cryptocurrency exchange Gemini. </p><p>(In a speech this summer, Trump called them “male models with a big, beautiful brain.”) </p><p>This year’s Republican Party platform offers few details on many policy issues affecting Americans, <br>but it is unusually specific on crypto, <br>promising to <br>“defend the right to mine Bitcoin” <br>and opposing the creation of a <br>“Central Bank digital currency,” <br>which could threaten the crypto industry’s biggest investors.</p><p>In July, Trump flew to Nashville for the Bitcoin 2024 conference, <br>where he spoke shortly after one of his top fund-raisers, <br><a href="https://c.im/tags/Howard" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Howard</span></a> <a href="https://c.im/tags/Lutnick" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Lutnick</span></a>. </p><p>Lutnick, the C.E.O. of the Wall Street firm Cantor Fitzgerald, has become a leading public proponent of the crypto industry; </p><p>at the conference, he announced a plan to lend $2 billion to crypto investors, </p><p>allowing them to use bitcoin as collateral. </p><p>Onstage, Trump said that his Administration would permit the creation of so-called <a href="https://c.im/tags/stablecoins" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>stablecoins</span></a>, <br>which, he promised, would <br>“extend the dominance of the U.S. dollar to new frontiers around the world.” </p><p>Trump also promised to fire 🔸Gary Gensler, Biden’s chairman of the Securities and Exchange Commission, <br>whose pro-regulatory positions on crypto have outraged bitcoiners. </p><p>The United States, Trump vowed, “will be the crypto capital of the planet.”</p><p>Lutnick, who has known Trump for thirty years and who once made a guest appearance on “The Celebrity Apprentice,” <br>supported Trump’s previous campaigns. </p><p>But he has significantly increased his giving in 2024. </p><p>According to Bloomberg, Lutnick and his wife donated $30,200 to Republicans in 2016 <br>(though he also gave $1 million to Trump’s 2017 Inauguration committee), <br>$1.3 million in 2020, <br>and $12.1 million so far this year. </p><p>In May, during the former President’s trial in Manhattan, Lutnick hosted a fund-raiser for him at Lutnick’s apartment in the Pierre hotel. </p><p>In early August, he held another event at his forty-acre estate in Bridgehampton, which brought in $15 million; seats for a roundtable with Trump in Lutnick’s dining room went for $250,000. </p><p>The following Monday, maga Inc., a pro-Trump super pac, recorded a $5-million donation from Lutnick, <br>the largest individual political gift he’d ever made.</p>