Trump’s Old Condo, Patrick Byrne’s Backstory, Crypto’s Future

Welcome to the Checks & Imbalances newsletter. Today we look at a former Park Avenue condo of Donald Trump’s that is back on the market, Trump’s continued self-dealing and how lobbyists are trying to influence crypto regulation.

A business executive who paid Donald Trump $14 million for a Park Avenue condo during the 2016 presidential campaign is now trying to sell the unit for a $2.5 million loss.

In January 2016, Trump Park Avenue LLC sold a unit on the building’s 27th floor for $14.05 million, according to a filing with the New York City register’s office. Trump’s financial disclosure for that year reveals that, via two other companies, he owned 99.9% of Trump Park Avenue LLC.

The buyers were Robert and Meryl Tillis. Campaign-finance records show that a Robert Tillis with the same Park Avenue address as the condo building is the CEO of Imperial Dade, a distributor of packaging and janitorial supplies.

Robert Tillis wasn’t a Trump donor at the time of the sale. Six months after buying the apartment, however, he donated $2,000 to support Trump’s campaign, according to filings with the Federal Election Commission.

In June 2021, the Tillises put their condo on the market, asking for $15 million, 6.6% more than what they paid for it. A year and three price cuts later, the condo remains for sale, now with an asking price of $11.5 million—$2.5 million less than what they paid Trump for it.

Robert Tillis did not immediately respond to a request for comment.

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In Case You Missed It

Watch: How Donald Trump Is Moving Money From His Political Groups To His Private Business

Patrick Byrne Of Overstock Fame Says He Was Involved In Monthslong Effort To Overturn 2020 Election

“When it comes to peculiar characters, 2020 election edition, few people had this guy on their bingo card: The former chief executive of online furniture retailer Overstock, Patrick Byrne,” reports Lauren Debter:

Byrne, set to speak with the January 6 committee on Friday, was present at a contentious White House meeting days before Christmas in 2020 with then-President Donald Trump and members of his staff, in which Byrne, former National Security Advisor Michael Flynn and Trump lawyer Sidney Powell made the case that the election had been stolen and they needed to recount ballots in at least six states. They also discussed deploying the National Guard to seize voting machines…

Byrne, 59, has a long history of hawking conspiracy theories and becoming embroiled in controversy. The son of an insurance tycoon who turned around Geico in the 1970s and attracted an investment from Warren Buffett, he earned a philosophy doctorate from Stanford while battling three bouts of testicular cancer and wrote his dissertation exploring the virtues of limited government. He and his brother then began doing deals financed by their dad, buying up bankrupt hotels, strip malls, apartment buildings and distressed consumer debt.

Trump Depositions In New York Probe Delayed After Ivana’s Death

“Depositions that were set to begin Friday of former President Donald Trump and his two oldest adult children as part of a civil investigation by the New York state attorney general into potential financial fraud by the Trump Organization have been postponed following the death of Ivana Trump,” reports Nicholas Reimann:

AG spokesman Delaney Kempner said in a statement that the former president’s lawyer requested the delay, which James agreed to.

New dates for the depositions have not been announced. Ivana Trump, 73, was found dead Thursday at her New York City apartment.

She was the mother of Donald Trump Jr. and Ivanka Trump, who were set to testify starting Friday, while her third child with the former president, Eric Trump, already appeared for a deposition in the case.

Watch: ‘It’s Happening To Me!’—Trump Blasts ‘Racist’ NY AG Tish James For Investigations Into His Business

Lummis-Gillibrand Crypto Bill: An Important Step In Bringing Regulatory Clarity To Bitcoin, Stablecoins, & Digital Assets

“Last month, Wyoming Senator Cynthia Lummis and New York Senator Kirsten Gillibrand unveiled their long-anticipated, bipartisan legislative proposal to build a federal regulatory framework for cryptocurrencies, like Bitcoin,” reports Avik Roy and The Apothecary:

In developing their bill, Lummis and Gillibrand worked closely with key industry lobbies and trade associations, a common strategy in Washington. Alongside their bill, the senators published six pages of supportive statements from entities like the Digital Chamber of Commerce, the Association for Digital Asset Markets, the Blockchain Association, the Crypto Council for Innovation, Kraken, Coinbase, FTX, Bitstamp and Uniswap.

But precisely for that reason, those who are skeptical of the crypto industry are likely to stay on the sidelines for now. The key question is: does the dynamic change after November?

Tracking Trump

Forbes continues to update “Tracking Trump: A Rundown Of All The Lawsuits And Investigations Involving The Former President.” The latest update includes changes to more than 25 cases and investigations.

In December 2020, Rep.-elect Marjorie Taylor Greene (R-Ga.) dined at Trump’s hotel in D.C. with Ivan Raiklin, a Green Beret who unsuccessfully tried to run for Senate in 2018. They discussed trying to overturn the election results. The following day, Raiklin published a memo explaining how Vice President Mike Pence could throw the election in Trump’s favor. Trump retweeted the memo, as the Jan. 6 committee noted in a public hearing last month.

Donald Trump’s campaign sent a fundraising email pegged to the death of his first wife, Ivana, tweets Andrea Mitchell of NBC News.

• “Trump discussing 2024 plans at secret donor dinners” (Politico)
• “Donald Trump’s Save America leadership PAC makes its first outlay to Wyoming Values, contributing $500,000 to the anti-Liz Cheney, pro Harriet Hageman independent expenditure committee.” (Twitter/Rob Pyers of California Target Book)