Semafor sat down with Trump II's top crypto advisor Patrick Witt to discuss dwindling opportunities to pass the Clarity Act. Witt warned that time is running out. I wondered who is this Patrick Witt, other than a former McKinsey staffer and almost NFL quarterback.
Witt's background raised interest with "served as managing director for a lower-middle market private equity firm." None of his bio's stated which private equity underwriter (PEU).
From January to May 2025 Witt was interim Deputy Under Secretary of Defense for Research and Engineering and Deputy Chief Technology Officer. Was he able to steer any military contracts to firms associated with Eric and Don Jr.?
Internet sources show Witt founded Turnkey Contractor Solutions LLC, served as Managing Director for EcoFusion Solutions and worked in a director role for First Liberty Building and Loan.
Turnkey dissolved as a Georgia corporation in September 2024. EcoFusion's website is no longer findable (per Witt's LinkedIn page link) and First Liberty Building and Loan failed and later turned out to be a Ponzi scheme.
There is no evidence that Witt knew his employer ran a Ponzi scheme, yet he was charged with growing that financial institution through new ventures and strategic expansion.
Working for two failures and a shady operation does not seem a strong hand to renew the Defense Department or pioneer Digital Assets (which has legions of shady operators).
Patrick Witt appears to be a person who can fill many roles, like James Fishback. They seem to be able to get past the orientation but appear not to be long term players in specific fields of expertise.
It's good to be a PEU generalist nowadays. To many that's a plus. For me, it's a Red Flag.
