Utopia Talk / Politics / Trump pardons businesses

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Tue Jul 21 23:18:01 Trump Extends Pardons to Companies, Echoing a 17th Century King Ryan LaLone received a pardon this month for a conviction tied to tampering with diesel emissions systems. Just as importantly, so did his company. The twin reprieves from President Donald Trump enabled LaLone to clear his name and erase a $750,000 fine for his Michigan trucking-parts shop. They also made him the beneficiary of an unprecedented expansion of White House clemency power, a move tracing back to England's King Charles II. Since taking office for the second time, Trump has become the first modern US president to issue pardons for companies, from a Middle America auto supplier to a crypto platform and a media startup. The clemency grants have wiped out almost $200 million in financial penalties, some of which were destined for victims of wrongdoing. ... The idea of pardoning businesses was first debated early last year, when the parent company of crypto platform BitMEX was discreetly angling for a pardon for the business and its senior executives, according to a person with knowledge of the discussions. Some White House officials saw precedent in King Charles II pardoning a company more than 300 years ago, said the person, who asked not to be named discussing private talks. ... Trump has granted clemency to nine companies, including LaLone's Diesel Freak LLC, since the start of his second term. ... Trump's advisers in the White House revisited the question in early 2025. HDR Global Trading, the company that owned crypto platform BitMEX, was on the hook for a $100 million fine for flouting anti-money laundering laws. Trump's Justice Department had vowed to abandon a Biden administration crackdown on unregistered crypto exchanges, and BitMEX co-founder Arthur Hayes quickly embraced the president's softening stance on digital currencies. In January 2025, the exchange quickly launched a swap listing tied to the $TRUMP memecoin — part of a business venture that earned Trump $636 million last year — for trading. Weeks later, Hayes penned an essay framing the president's embrace of meme coins as a move toward bolstering political accountability. On March 27, 2025, Trump signed pardons for Hayes and three other former BitMEX executives. He also pardoned the company, the same week the $100 million fine was due. Read the whole thing here: https://fi...mpanies-echoing-154148289.html

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