Trump’s Crypto Fortune Grows, Sparking Conflict of Interest Concerns
A new report from State Democracy Defenders Action reveals that President Donald trump adn his family have amassed a meaningful fortune in cryptocurrency. The nonprofit estimates that nearly 40% of Trump’s net worth, around $2.9 billion, comes from digital assets.
This wealth stems from personal memecoins like Official Trump (TRUMP) and Melania (MELANIA), along with a stake in World Liberty Financial (WLFI), a crypto exchange linked to the Trump family.The organization, wich fights autocracy, claims that crypto now makes up a large part of Trump’s wealth.
Trump’s crypto wealth includes his own memecoins and a stake in WLFI. The exchange,launched in 2024,could grow even more. MGX, an Abu Dhabi-backed firm, plans to invest $2 billion in WLFI by buying its new stablecoin, USD1.This move could further boost Trump’s crypto portfolio.
World Liberty Financial’s co-founder, Zach Witkoff, confirmed USD1 as the official stablecoin for MGX’s investment into Binance. The Trumps own a 60% stake in WLFI, holding 22.5 billion $WLF tokens. The proximity of the Trumps to WLFI is clear.The family owns a significant stake in WLFI.
Trump’s White house Crypto czar, David sacks, also stands to profit. He holds a stake in BitGo, which has a custodial deal with USD1. Sacks was allowed to keep his BitGo ownership due to a conflict-of-interest waiver.
Concerns over conflicts of interest are growing as Trump’s crypto empire expands. His administration has loosened oversight of the digital asset industry, dropping numerous lawsuits and investigations against crypto companies.
Some see Trump’s crypto strategy as a way to consolidate wealth and influence. As his crypto fortune grows, so do questions about the ethics of his administration’s approach to digital assets.
