According to a report from The New Yorker, President Trump and his family have earned $2.37 billion from cryptocurrency projects, raising serious concerns about conflicts of interest and prompting the Democratic Party to propose restrictive legislation.
Before his presidency, the Trump family’s assets were depleted, forcing them to sell $220 million in stocks. However, during his first term, Trump and his family kept a low profile regarding investment offers.
Attorney Sheri Dillon previously claimed that the Trump family did not exploit their position, but her firm stopped representing them after the Capitol riot in 2021.
Huge Crypto Earnings in the Second Term
During his second term, Trump significantly increased his wealth through international transactions and cryptocurrency projects. Crypto is now believed to constitute a large portion of the president’s net worth.
According to estimates from the NYT, the Trump family could earn up to $2 billion in just one month. In total, they are said to have earned $3.37 billion during both terms.
Main Sources of Income:
- $412.5 million from cryptocurrency projects
- $243 million from transactions with the UAE through World Liberty Financial and USD1 stablecoin
- $13 million from Bitcoin in the U.S.
- $1.3 billion from Trump Media & Technology Group
- $385 million from memecoins TRUMP & MELANIA
Trump’s interest in crypto has surged following rejections of service from major banks. The first NFT project in collaboration with Bill Zanker raised $14.4 million.
Richard Blumenthal of Connecticut announced a preliminary investigation into Trump’s memecoin and stablecoin projects, citing national security risks.
The Democratic Senate has introduced the “Crypto Corruption Termination Act,” aimed at prohibiting elected officials and senior executive branch personnel from issuing or endorsing digital assets.
Related: President Trump Unveils Comprehensive Policy Framework for Cryptocurrency
Impact on the Crypto Market
Some within the industry believe that the focus on Trump’s conflicts is derailing important policy progress for the entire crypto sector. Lawmakers this week rejected the GENIUS Act—a bill intended to boost the industry.
A forensic analysis commissioned by The New York Times concluded that 813,294 wallets lost $2 billion while trading coins, while the president’s company and partners profited approximately $100 million from transaction fees.
Interest in the $TRUMP memecoin surged more than 50% after the project’s website promised that the top 220 holders would have a seat at dinner with the president.
The Trump family’s crypto empire is rapidly expanding, making previous ethical debates about his hotel and casino business seem trivial.
This situation has sparked a heated debate about the boundary between personal interests and public responsibility in the era of digital assets.
