President Donald Trump on Monday signed an executive order directing the U.S. to take steps to start developing a government-owned investment fund that he said could be used to profit off of TikTok if he’s successful at finding the company an American buyer.

Summary

Trump signed an executive order to begin developing a U.S. sovereign wealth fund, which he said could take a 50% stake in TikTok if it is sold to an American buyer.

Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick were tasked with laying the groundwork, though congressional approval may be required.

Trump noted that other nations have similar funds and aims to rival Saudi Arabia’s.

  • xmunk
    19·
    2 days ago

    I’d honestly give a 50/50 chance that it’ll solely be used to pump Trump investments and then dump the loss on the American people.

    Is there anyone here who thinks the fund wouldn’t own Trump coin or whatever his next shitcoin venture is?

    • Corkyskog
      2·
      2 days ago

      If anyone isn’t paying attention they are basically putting a gun to everyone’s wallet to make them buy crypto.

      I wouldn’t be surprised if half of this is solely to pump crypto.