The Trump family uses its name and connections to profit from digital assets. Although, Donald Trump’s personal wealth has hardly changed since he returned to the White House: $6.5 billion on Election Day and $6.4 billion now.
But the president’s family earned at least $620 million in participation in or investment in cryptocurrency projects.
Although the president’s assets are held in a trust administered by Donald Trump Jr. he continues to personally benefit from the success of the Trump Organization.
For example, the World Liberty Financial platform, which sells its own tokens and issues a stablecoin called USD1, has sold $550 million worth of tokens by March. About $390 million of this goes to the Trump family, plus another $2 billion in unsold tokens (22.5 billion WLFI), although it has reduced its stake in World Liberty to 40% from 60%.
Abu Dhabi-based technology investment firm MGX is using USD1 stablecoin to invest $2 billion in cryptocurrency exchange Binance. Binance founder Changpeng Zhao, who is seeking a presidential pardon after pleading guilty to violating U.S. anti-money laundering laws, serves as an advisor to World Liberty, along with Tron blockchain founder Justin Sun and Bilal Bin Saqib, chairman of the Crypto Council of Pakistan.
The TRUMP presidential family’s memcoins are worth another $150 million, plus $350 million in fees and token sales.
Although World Liberty Financial and the TRUMP token were two different projects, Eric Trump has revealed plans for World Liberty Financial to accumulate a substantial amount of memecoins. The Trump family also has an ace up its sleeve: 20% у mining company American Bitcoin.
Source: Bloomberg
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