Trump tried to move his hush money case to federal court. The judge said no. This marks the second time he's attempted this exact maneuver. Failed twice. That's consistency.
The conviction stems from conduct before the 2016 election. Payments made. Records falsified. Thirty-four felony counts. But sure, let's talk about how this affects your Tesla calls.
Federal court would have been a different venue. Different rules. Different jury pool. Trump's legal team argued presidential immunity should apply. The court disagreed. Turns out paying a porn star to stay quiet before an election isn't an official presidential act. Wild legal theory there.
Retail traders saw this headline and immediately checked if Trump Media stock moved. It did. They bought the dip. They always buy the dip. The dip bought them.
The case involves a $130,000 payment to Stormy Daniels through Michael Cohen. Cohen went to prison. Trump got elected. Then Trump got convicted. Then Trump tried to move the case. Then a judge reminded him that's not how jurisdiction works.
This is the part where someone in a Discord channel asks if this is bullish or bearish for crypto. The answer is neither. It never was. Your portfolio is down because you bought dog-themed tokens, not because of federal court procedures.
Trump's sentencing is still pending. The conviction stands. The case stays in state court. And somewhere, a day trader just panic-sold his entire position because he saw the word "court" in a push notification and assumed it meant the Supreme Court banned options trading.
The legal system moved slower than your stop loss, which is saying something considering you set it at zero.
Photo by Snap Wander on Unsplash
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