Former US president and Republican presidential candidate Donald Trump prepares to speak to the press after he was convicted. AFP
Former US president and Republican presidential candidate Donald Trump prepares to speak to the press after he was convicted. AFP
Former US president and Republican presidential candidate Donald Trump prepares to speak to the press after he was convicted. AFP
Former US president and Republican presidential candidate Donald Trump prepares to speak to the press after he was convicted. AFP


Donald Trump is a convict. Voters will decide whether it matters


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May 31, 2024

Donald Trump is a convicted felon. A jury of his peers found the Republican presidential candidate guilty of falsifying business records in a sordid case dating back to a one-night stand he maintains he didn't have with an adult film star in 2006.

The verdict came as something of a shock. Pundits had been speculating for weeks that a mistrial was likely because of some of the convoluted testimony from the government's star witness, Michael Cohen, a convicted perjurer.

But in the end, it only took the jurors, at least one of whom was presumed to be a Trump supporter, less than 12 hours to reach a verdict in a case the former president had repeatedly claimed was worthless and never should have been brought.

The speed of the verdict in New York appeared to blindside “Teflon Don”, who seemed tired and crestfallen as he lumbered from the courtroom to decry his 34 felonies and the entire case against him as “rigged” by the Biden administration and a “disgrace”.

“The real verdict is going to be November 5 by the people,” Trump told reporters. “I'm a very innocent man.”

He's right. Election Day is the only decision of consequence for Trump, and there's every chance his conviction will help him with his true believers, who take at face value his claims that all the criminal cases against him are politically motivated.

After all, it didn't matter that Trump tried to overturn the results of the 2020 election, or that he was found liable of sexual assault and defamation, or that the Trump Organisation was convicted in a criminal fraud scheme.

Surely, therefore, it won't matter that Trump must forever carry the mantle of being the first US president to be convicted of a felony.

But if we delve a little deeper, it's not quite so simple.

An ABC/Ipsos poll this month found that if Trump were to be convicted of a felony in this case, 80 per cent of his supporters would vote for him anyway.

That, however, leaves 16 per cent who said they would reconsider their support, and 4 per cent who said they would withdraw it.

Though Trump is pulling ahead of President Joe Biden in nationwide polls, a potential loss of support from 20 per cent of Republicans would see the deeply unpopular, 81-year-old Democrat get a second term despite his disastrously inept campaign.

The election will probably be determined by a few thousand votes in a few swing states, so even a small movement of voters could have an impact.

At least one Trump supporter appears to have looked at the evidence against him and decided he should be convicted: the juror who said he gets his news from Fox and Trump-owned Truth Social platform, a febrile echo chamber of far-right extremism and cultlike homages to the former president.

Trump says the case is far from over and he will almost certainly appeal, but for now at least he bears the stain of being the first former or sitting president to be convicted of a crime, surpassing even Richard Nixon's ignominy.

Perhaps Trump will have better luck at one of his upcoming trials on more serious charges of election interference and mishandling classified documents, though the Republican-skewed judiciary may quash these cases before Trump stands trial.

As has been oft noted, there's almost literally nothing Trump can do wrong in the eyes of his ardent Maga (Make America Great Again) supporters.

To refresh memories of just a few outrages that only boosted his standing among his fans: he said some of the racists at a white nationalist rally were “very fine people” in 2017, he called US troops and service members killed in the Second World War and Vietnam “suckers” and “losers” and he called for (and largely implemented) the “total and complete shutdown” of Muslims entering the US.

Trump famously said it best in 2016, when he proclaimed: “I could stand in the middle of Fifth Avenue and shoot somebody, and I wouldn't lose any voters, OK.”

On November 5, Americans will decide whether they agree with him.

  • Former US president and Republican candidate Donald Trump arrives to speak to the press after he was convicted in his criminal trial in New York. AFP
    Former US president and Republican candidate Donald Trump arrives to speak to the press after he was convicted in his criminal trial in New York. AFP
  • Trump stands surrounded by his legal team as he exits the courtroom. AFP
    Trump stands surrounded by his legal team as he exits the courtroom. AFP
  • A television screen shows the news of the verdict in Trump's criminal trial. Reuters
    A television screen shows the news of the verdict in Trump's criminal trial. Reuters
  • A man holds a placard outside Manhattan criminal court following the verdict. Reuters
    A man holds a placard outside Manhattan criminal court following the verdict. Reuters
  • A demonstrator holds a placard outside the court following the verdict. Reuters
    A demonstrator holds a placard outside the court following the verdict. Reuters
  • Trump alongside his lawyer Todd Blanche ahead of jury deliberations during his criminal trial for allegedly covering up hush-money payments. AFP
    Trump alongside his lawyer Todd Blanche ahead of jury deliberations during his criminal trial for allegedly covering up hush-money payments. AFP
  • Representative Maria Elvira Salazar was one of many politicians who attended the New York trial to show support for Trump. EPA
    Representative Maria Elvira Salazar was one of many politicians who attended the New York trial to show support for Trump. EPA
  • A court sketch of Robert Costello being cross-examined by prosecutor Susan Hoffinger before Judge Juan Merchan. Reuters
    A court sketch of Robert Costello being cross-examined by prosecutor Susan Hoffinger before Judge Juan Merchan. Reuters
  • A court sketch of Trump yawning during the trial. Media outlets reported the former president has often been seen keeping his eyes closed during proceedings. Reuters
    A court sketch of Trump yawning during the trial. Media outlets reported the former president has often been seen keeping his eyes closed during proceedings. Reuters
  • Michael Cohen, former lawyer and fixer for Trump, testified against the former president. Reuters
    Michael Cohen, former lawyer and fixer for Trump, testified against the former president. Reuters
  • Stormy Daniels, the adult film star who allegedly received a hush-money payment from the Trump campaign in 2016, leaves court. AFP
    Stormy Daniels, the adult film star who allegedly received a hush-money payment from the Trump campaign in 2016, leaves court. AFP
  • A sketch shows jurors taking notes as Ms Daniels testifies on May 7. Elizabeth Williams / AP
    A sketch shows jurors taking notes as Ms Daniels testifies on May 7. Elizabeth Williams / AP
  • Judge Juan Merchan is presiding over Trump's case. AP
    Judge Juan Merchan is presiding over Trump's case. AP
  • Eric Trump, Donald Trump Jr and the former president's daughter-in-law, Lara Trump, arrive at the court. Reuters
    Eric Trump, Donald Trump Jr and the former president's daughter-in-law, Lara Trump, arrive at the court. Reuters
  • Trump supporters gather near the courthouse in New York. Getty Images / AFP
    Trump supporters gather near the courthouse in New York. Getty Images / AFP
  • Trump supporters post signs as they gather near the courthouse during the trial. Getty Images / AFP
    Trump supporters post signs as they gather near the courthouse during the trial. Getty Images / AFP
  • Members of the media wait in front of the courthouse in Manhattan. Getty Images / AFP
    Members of the media wait in front of the courthouse in Manhattan. Getty Images / AFP
  • Trump speaks during a rally in the South Bronx in New York during a day off from his trial. Getty Images / AFP
    Trump speaks during a rally in the South Bronx in New York during a day off from his trial. Getty Images / AFP
  • Trump awaits the start of his trial earlier in the week in New York. AP
    Trump awaits the start of his trial earlier in the week in New York. AP
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Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

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Updated: May 31, 2024, 8:05 AM