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‘Wolf of Wall Street’ Jordan Belfort has told Sky News there’s “no way” Donald Trump is guilty of insider trading or market manipulation.

Opponents say the president has questions to answer after he said it was a “great time to buy” shares – four hours before the stock market surged on Wednesday when he paused tariffs.

Mr Belfort told Gillian Joseph the fact Mr Trump made the statement on social media meant it was public, rather than him tipping off a few people.

Tariffs latest: Trump – ‘everything will be beautiful in the end’

Speaking on The World programme, Mr Belfort said: “I personally don’t find it overly suspicious. Especially since he’s told it to everybody at once.

“If he hadn’t said anything and told five of his best friends ‘I’m gonna ease this tariff situation – you should be buying’, that would be illegal.”

Insider trading is when people take advantage of non-public information to buy or sell shares and make a gain.

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The former stockbroker was famously played by Leonardo DiCaprio in the film about his early life and admitted crimes related to stock manipulation.

Mr Belfort said Mr Trump’s post was just repeating what the president had said previously, and that buying when share prices plunge is a well-known investment move.

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Market whiplash – did Trump’s friends get richer?

“He had been saying that all along [to buy], it wasn’t the only time he’d said that,” said Mr Belfort.

“[Treasury] Secretary Bessent had been saying that too. It’s a really basic piece of advice.”

Stock markets around the world plunged dramatically on Monday due to the start of America’s wide-ranging tariffs on imports from around the world.

The world economy was rattled again just two days later when the president said nearly all of the taxes would go on hold for 90 days.

The key S&P 500 index jumped nearly 10% – a huge daily increase.

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Democrats and Republicans react to insider trading claims

Rival Democrat politicians say Mr Trump‘s encouragement to buy raises “grave ethics concerns”.

Some are calling for an urgent inquiry into whether any of his family or administration officials benefited by dealing in the stock market ahead of time.

The White House said the president’s post was simply reassuring Americans “about their economic security in the face of nonstop media fearmongering”.

Mr Belfort accused Democrat figures of trying to “earn brownie points with the media and their party”.

‘Not gonna be pretty’

Despite the mid-week surge, turbulence in stock markets appears far from over – chiefly because China and the US remain locked in a tariffs stare down.

American indexes closed down again on Thursday, Japan’s Nikkei fell about 5% early on Friday, and Hong Kong stocks are heading for their worst week since 2008.

Gold meanwhile, considered a “safe haven” asset, has climbed to a record price and earlier today passed the $3,200/oz level for the first time.

Mr Belfort told Sky News that while he was against tariffs generally, President Trump’s dramatic intervention was necessary as the US has an “insane” trade imbalance and imports far more than it exports.

“The United States has been drained of its wealth, drained of its factories,” he said.

“It’s not gonna be pretty,” added Mr Belfort. “There’s going to be pain – but the path we were on before is simply unsustainable. It had to change.”

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Trump tariffs: How have stock markets reacted

He said he was sceptical over fears the tariffs will hit US consumers hard, with some predicting goods – including popular items such as the iPhone – could jump in price if costs are passed on.

The former trader said he believes firms would shift production from China, which is subject to a tariff of more than 100%, to places such as India, and that exemptions would eventually be agreed.

He also gave the thumbs up to Elon Musk‘s controversial government efficiency role which has forced thousands of jobs cut.

Read more:
China ready for trade war and it’s unclear Trump knows what he’s taking on
Trump has blinked – but it’s not the markets that forced him to act

“I love what is being done because the amount of abuse and waste and fraud, it’s absolutely insane,” said Mr Belfort.

“It’s a great thing that’s happening. Obama talked about doing it, Clinton tried it; this is not a new idea to try to make the government more efficient.”

If Mr Musk leaves or quits in the near future, as is rumoured, Mr Belfort said the world’s richest man has installed “some very seasoned business people that really care about the country”.

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‘Bella Ciao’ to ‘OwO’ – what the engravings on bullets in Charlie Kirk case may refer to

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'Bella Ciao' to 'OwO' - what the engravings on bullets in Charlie Kirk case may refer to

Experts have described engravings left on ammunition at the scene of the Charlie Kirk shooting as “extremely online” – so what do the words and symbols actually mean?

Authorities said on Friday that the suspect accused of fatally shooting the Conservative activist left behind bullet casings featuring references to fascism, video games and internet memes.

Kirk at Utah Valley University where he was shot. Pic: Reuters/The Salt Lake Tribune
Image:
Kirk at Utah Valley University where he was shot. Pic: Reuters/The Salt Lake Tribune

To those who aren’t chronically online, the messages may appear to be total gibberish. But for others, specifically gamers, many of the meanings will have immediately been clear.

Here’s what each of the casings reference – and why experts have cautioned against using them to make assumptions about the suspect’s political leanings.

1. ‘notices, bulges, OWO, what’s this?’

This writing appears to reference a meme about the furry subculture, which centres on an interest in anthropomorphic animal characters.

Within the furry community, OwO is an emoticon of a cute face (with the Os as the eyes and the w as a cute mouth or nose) and used as a way of flirting – but outside the community, it is often used in a mocking way, or as part of trolling.

It’s incredibly common for phrases used by people who are “extremely online” – which essentially means highly engaged in online culture – to have double or multiple meanings.

For this reason, experts have cautioned against trying to interpret messages such as these engravings to determine an attacker’s political leanings or motive.

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What we know about the shooting arrest

Jamie Cohen, an assistant professor of media studies who studies memes at Queens College in New York, said: “Oftentimes this extremely online disguise is meant to be doublespeak.”

Speaking to Sky News’ US partner NBC News, he continued: “It’s meant specifically for someone like me to dive into what they would call meme culture and declare them something so that they get more press.

“So it could just be another bait and switch for researchers who are falling into the same trap that they are designing for more viral exposure.”

2. ‘Hey, fascist! Catch ↑ → ↓↓↓’

When asked by Sky News’ US correspondent James Matthews what the messages on the casings meant, Utah governor Spencer Cox said the writing referring to a fascist “speaks for itself”.

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Engraving on bullet casing ‘speaks for itself’

The second half of the inscription – the directional arrows – were immediately identified by some gamers.

Helldivers 2 players have pointed out that the arrow sequence is the code used to summon a 500kg bomb in the 2024 game – which itself has been interpreted as a satire of fascism.

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3. ‘Oh bella ciao, bella ciao, bella ciao ciao ciao’

Bella Ciao is a classic Italian song that became a popular anti-fascism anthem during Benito Mussolini’s dictatorship.

It has won renewed popularity in recent years thanks, in part, to featuring multiple times in Netflix’s Spanish television series Money Heist.

A popular remix of Bella Ciao has hit more than 260 million streams on Spotify worldwide and it’s become a favourite on TikTok, as well as within the gaming community.

Read more:
All we know about the suspected assassin
The string of bloody political violence in the MAGA era

4. ‘If you read this, you are gay lmao’

This juvenile insult, using the well-known abbreviation for ‘laughing my ass off’, is a common ‘gotcha’ phrase and simply appears to mock investigators.

The messages, another expert has said, make one thing clear – the suspect was likely seeking fame.

Lindsay Hahn, a University at Buffalo associate professor who researches ideological extremism and the ways in which perpetrators of violence justify their actions, said the messages do not necessarily indicate a specific ideology.

“But what they do indicate, is that the shooter wanted to get a message across and therefore be talked about online,” she told NBC.

“It sort of seems like these messages, at the very minimum, were selected because he knew they were going to be talked about.”

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Charlie Kirk memorial to be held in Arizona stadium

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Charlie Kirk memorial to be held in Arizona stadium

A memorial for right-wing US influencer Charlie Kirk will be held next Sunday, in a stadium that previously hosted the 2023 Super Bowl.

The 31-year-old, who was a close ally of Donald Trump, was fatally shot in the neck on Wednesday while speaking to university students at an event in Utah.

His appearance at Utah Valley University was part of a planned tour of US college campuses.

A memorial for Charlie Kirk at Turning Point USA headquarters in Phoenix, Arizona. Pic: Reuters
Image:
A memorial for Charlie Kirk at Turning Point USA headquarters in Phoenix, Arizona. Pic: Reuters

Charlie Kirk at Utah Valley University, shortly before he was shot. Pic: AP
Image:
Charlie Kirk at Utah Valley University, shortly before he was shot. Pic: AP

Turning Point USA, the prominent youth conservative organisation of which Mr Kirk was the president and co-founder, is holding the event at State Farm Stadium outside Phoenix.

The venue is the home of the NFL’s Arizona Cardinals and can hold more than 60,000 people.

Tyler Robinson, a 22-year-old from Washington, Utah, is being held without bail after being arrested on suspicion of aggravated murder, felony discharge of a firearm causing serious bodily harm and obstruction of justice charges, according to court documents.

The motivation behind the fatal shooting is still unclear, but Utah governor Spencer Cox commented that Robinson described Mr Kirk as “full of hate and spreading hate”.

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Robinson is due to make an initial court appearance on Tuesday, when he is also expected to be charged, the Utah County attorney’s office said.

Tyler Robinson. Pic: Utah Governor's Office
Image:
Tyler Robinson. Pic: Utah Governor’s Office

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Suspect’s movements before and after shooting

President Trump, who will be back in the US after his UK state visit next week, has previously said he plans to attend Mr Kirk’s funeral.

Mr Trump has said he will be posthumously awarding Mr Kirk with the nation’s highest civilian honour, the Presidential Medal of Freedom.

Mr Kirk’s body was flown back from Salt Lake City to his home state of Arizona on Air Force Two on Thursday, with the US vice president and close friend JD Vance on board.

JD Vance helps carry the coffin of Charlie Kirk from Air Force Two in Arizona
Image:
JD Vance helps carry the coffin of Charlie Kirk from Air Force Two in Arizona

His widow, Erika Kirk, has vowed to continue his campus tour and his radio and podcast shows.

Speaking publicly for the first time in a livestreamed video on Friday, she said: “To everyone listening tonight across America, the movement my husband built will not die.”

“It won’t. I refuse to let that happen.”

She said she told her three-year-old daughter: “Daddy went on a work trip with Jesus.”

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Charlie Kirk shooting: What bullet inscriptions mean

Read more: What the engravings on bullets in Charlie Kirk case may refer to

Mr Kirk, who was a father of two, had millions of followers across social media.

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A makeshift memorial to Mr Kirk has been set up at Utah Valley University, with flowers, American flags and handwritten messages left at the main entrance.

The university says there will be increased security when classes resume on Wednesday.

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‘Bella Ciao’ to ‘OwO’ – what do the engravings on the bullets in the Charlie Kirk shooting mean?

Published

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'Bella Ciao' to 'OwO' - what the engravings on bullets in Charlie Kirk case may refer to

Experts have described engravings left on ammunition at the scene of the Charlie Kirk shooting as “extremely online” – so what do the words and symbols actually mean?

Authorities said on Friday that the suspect accused of fatally shooting the Conservative activist left behind bullet casings featuring references to fascism, video games and internet memes.

Kirk at Utah Valley University where he was shot. Pic: Reuters/The Salt Lake Tribune
Image:
Kirk at Utah Valley University where he was shot. Pic: Reuters/The Salt Lake Tribune

To those who aren’t chronically online, the messages may appear to be total gibberish. But for others, specifically gamers, many of the meanings will have immediately been clear.

Here’s what each of the casings reference – and why experts have cautioned against using them to make assumptions about the suspect’s political leanings.

1. ‘notices, bulges, OWO, what’s this?’

This writing appears to reference a meme about the furry subculture, which centres on an interest in anthropomorphic animal characters.

Within the furry community, OwO is an emoticon of a cute face (with the Os as the eyes and the w as a cute mouth or nose) and used as a way of flirting – but outside the community, it is often used in a mocking way, or as part of trolling.

It’s incredibly common for phrases used by people who are “extremely online” – which essentially means highly engaged in online culture – to have double or multiple meanings.

For this reason, experts have cautioned against trying to interpret messages such as these engravings to determine an attacker’s political leanings or motive.

Please use Chrome browser for a more accessible video player

What we know about the shooting arrest

Jamie Cohen, an assistant professor of media studies who studies memes at Queens College in New York, said: “Oftentimes this extremely online disguise is meant to be doublespeak.”

Speaking to Sky News’ US partner NBC News, he continued: “It’s meant specifically for someone like me to dive into what they would call meme culture and declare them something so that they get more press.

“So it could just be another bait and switch for researchers who are falling into the same trap that they are designing for more viral exposure.”

2. ‘Hey, fascist! Catch ↑ → ↓↓↓’

When asked by Sky News’ US correspondent James Matthews what the messages on the casings meant, Utah governor Spencer Cox said the writing referring to a fascist “speaks for itself”.

Please use Chrome browser for a more accessible video player

Engraving on bullet casing ‘speaks for itself’

The second half of the inscription – the directional arrows – were immediately identified by some gamers.

Helldivers 2 players have pointed out that the arrow sequence is the code used to summon a 500kg bomb in the 2024 game – which itself has been interpreted as a satire of fascism.

👉 Follow Trump100 on your podcast app 👈

3. ‘Oh bella ciao, bella ciao, bella ciao ciao ciao’

Bella Ciao is a classic Italian song that became a popular anti-fascism anthem during Benito Mussolini’s dictatorship.

It has won renewed popularity in recent years thanks, in part, to featuring multiple times in Netflix’s Spanish television series Money Heist.

A popular remix of Bella Ciao has hit more than 260 million streams on Spotify worldwide and it’s become a favourite on TikTok, as well as within the gaming community.

Read more:
All we know about the suspected assassin
The string of bloody political violence in the MAGA era

4. ‘If you read this, you are gay lmao’

This juvenile insult, using the well-known abbreviation for ‘laughing my ass off’, is a common ‘gotcha’ phrase and simply appears to mock investigators.

The messages, another expert has said, make one thing clear – the suspect was likely seeking fame.

Lindsay Hahn, a University at Buffalo associate professor who researches ideological extremism and the ways in which perpetrators of violence justify their actions, said the messages do not necessarily indicate a specific ideology.

“But what they do indicate, is that the shooter wanted to get a message across and therefore be talked about online,” she told NBC.

“It sort of seems like these messages, at the very minimum, were selected because he knew they were going to be talked about.”

Continue Reading

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