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IrelandJosh Gay connects Binance theft to Trump's crypto interests
The Ring of Fire's fast-starting commentary examines frozen funds, a presidential pardon and the dismantling of a federal crypto enforcement team.
The Ring of Fire
Story of Why this story? The video opened at a pace of 427,883 views a day, 11 times a normal first day on this channel (39,905).
Trump Just Lost BILLIONS...
Things we can learn from the video
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- 0:37Gay cites TRM Labs' report describing the Binance theft as the largest crypto hack on record.
- 2:00He explains how compromised signing permissions enabled unauthorized transactions and rapid sales of stolen coins.
- 3:10The response includes frozen funds, with Gay identifying World Liberty Financial among the companies involved.
- 4:44An archival CNBC interview shows Eric Trump defending the family's business conduct and move into crypto.
- 5:20Gay criticizes the dismantling of the Justice Department's cryptocurrency enforcement team.
The target was Binance. Josh Gay's commentary begins with a reported $6.36 billion cryptocurrency theft, then follows the response into the Trump family's business interests and Washington's approach to enforcement.
Citing blockchain forensics firm TRM Labs, Gay describes hackers exploiting the exchange's signing system to authorize transactions, then rapidly selling stolen coins at discounts. He reports that North Korean hackers were responsible, calling it the largest crypto theft on record.
The political connection comes through the effort to freeze the proceeds. Gay identifies World Liberty Financial, the Trump family's crypto business, among the companies freezing stolen funds. Despite the video's title, "Trump Just Lost BILLIONS...", his account centers on a theft from Binance, rather than establishing that the president personally lost billions.
Gay also discusses Trump's pardon of Binance founder Changpeng Zhao following his prison sentence for anti-money-laundering violations. An archival CNBC interview brings in Eric Trump defending the family's business conduct, before Gay turns to the Justice Department's decision to dismantle its cryptocurrency enforcement team.
The upload reached about 170,000 views within six hours, already well beyond the channel's usual full first day. Its central argument is about oversight: Gay sets the scale of the theft against the administration's retreat from dedicated crypto enforcement.
The world's largest cryptocurrency exchange by daily trading volume, founded in 2017 by Changpeng Zhao.
More on Wikipedia ›A decentralized finance venture founded in 2024 with Trump family members among its founders. The family receives a share of its token sales and stablecoin profits.
More on Wikipedia ›A Chinese-born Canadian businessman who co-founded Binance and previously served as its chief executive. He is also known as CZ.
More on Wikipedia ›An American businessman and political activist who is Donald Trump's third child and second son.
More on Wikipedia ›Published on Trari
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- Channel
- The Ring of Fire
- Subscribers
- 1,370,000
- Channel views, last 7 days
- 2,336,995
- Channel views, pace per day
- 427,192 (on a normal day: 324,845)
- Video published
- November 2, 2026
- Video views so far
- 169,795 (less than a day online)
- Video views, pace per day
- 427,883
The numbers
The video passed the channel's usual full-day views within its opening hours. Its comment count also exceeded a typical first day.
