According to public filings and a bombshell New York Times report, GD Culture Group — a tiny Nasdaq-listed company with only 8 employees and no 2024 revenue — announced a planned $300 million purchase of Bitcoin and Trump’s memecoin ($TRUMP).
The funding comes from an unnamed entity in the British Virgin Islands, a known tax haven often used to obscure beneficial ownership.
The company claims the investment will “enhance its balance sheet with scalable digital assets” — but critics say it’s clearly more than that.
China Ties and TikTok Links Raise Red Flags
GD Culture Group operates an e-commerce business tied to TikTok, the Chinese-owned app currently facing a potential U.S. ban. The firm’s subsidiary, Shanghai Xianzhui, is headquartered in China — and its own annual reports admit the company may be influenced by the Chinese government.
That connection is especially sensitive given Trump’s ongoing negotiations over whether to allow TikTok to remain operational in the U.S.
“This is completely out of bounds,” said former Rep. Charles Dent (R-PA).
“Foreign entities obviously want to curry favor with the president.”
What Does Trump Get Out of It?
Trump’s crypto coin — launched just three days before his second inauguration — funnels profits directly to the Trump family, according to financial disclosures. In April, his team even offered dinner invites to the top 220 buyers, fueling speculative buying.
GD Culture Group’s move follows Fr8Tech, a Mexico-based logistics company, which earlier pledged to buy $20 million of $TRUMP to support “balanced trade policy.”
While federal law bars foreign nationals from donating to U.S. political campaigns, crypto payments do not fall under the same strict oversight — offering a legal gray zone.
Shell Entity, Shadow Financing
In its SEC filing Tuesday, GD Culture confirmed the planned $300M crypto purchase — but again refused to identify the British Virgin Islands-based entity financing the deal.
Analysts say this is a classic playbook: use opaque jurisdictions to channel funds into politically connected assets while avoiding scrutiny.
Mounting Political Blowback
Senator Chris Murphy (D-CT) took to the Senate floor Tuesday, blasting Trump for monetizing the presidency on the global stage.
“If a small-town mayor sold meetings for $1,000, they’d be run out of office,” Murphy said.
“Trump’s doing it at scale, through crypto, real estate, and foreign backers.”
Trump has also faced scrutiny over a $2 billion crypto deal backed by the UAE, and other ventures mixing foreign cash with political influence.
Market Reaction and Next Steps
- $TRUMP coin rose on the GD Culture announcement, though remains volatile
- GD Culture Group ($GDC) jumped 12% Monday, before reversing
- The SEC and Treasury may now face pressure to examine crypto’s role in foreign political interference
Ethics experts warn that the line between investment, influence, and access is becoming dangerously thin.
A Chinese-linked microcap company buying hundreds of millions in a Trump coin — with funding routed through a tax haven — is raising serious ethical and legal concerns in Washington.
The real question now: Will regulators catch up before crypto becomes the next frontier of foreign influence?
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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