President Donald Trump's embrace of crypto, paired with his return to the White House, has fueled enormous profits for his family—north of $1 billion to date, his son Eric Trump said.
A Financial Times investigation found that President Trump and his family’s crypto businesses have profited $1 billion pre-tax. When asked if the calculations were accurate, Eric Trump told the publication that the true figure was “probably more.”
It’s worth noting that Donald Trump is estimated by Forbes to be worth $7.1 billion, meaning that his share of these crypto profits could represent a sizable chunk of his net worth.
World Liberty Financial is arguably the most prominent Trump-backed crypto venture, with Donald Trump and his three sons all listed as co-founders. So far, the project has only rolled out its USD1 stablecoin and sold its WLFI governance token; however, plans are in place to expand further into the world of decentralized finance and offer lending services.
The FT estimated that World Liberty Financial generated more than $550 million in sales of its WLFI token, which included investments from Chinese crypto billionaire Justin Sun and the United Arab Emirates-based crypto fund Aqua 1 Foundation.
The family’s crypto empire also includes President Trump’s NFT trading cards, as well as Donald Trump and the first lady’s official meme coins—which were both launched in January. Eric and his brother Donald Trump Jr. also launched a Bitcoin mining and treasury firm called American Bitcoin in a team-up with miner Hut 8.
President Trump’s growing ties to the crypto industry have been a major point of contention in U.S. politics this year.
In May, senators slammed President Trump for hosting a dinner party for the top holders of his meme coin, with Sen. Elizabeth Warren (D-MA) calling it “an orgy of corruption.” In fact, the dinner was so controversial that it attracted hundreds of protestors outside the venue.
During Trump's push to pass the stablecoin GENIUS Act—his administration’s first pro-crypto bill signed into law—the president's crypto conflicts dominated legislative debate and delayed the approval process.
Eric Trump’s admission of the family profiting more than $1 billion is just the latest chapter in this administration’s controversial relationship with crypto.
Many social media users reacted by sharing a scene from the 2015 film The Big Short, which tells the story of the 2008 financial crisis. Applied to this situation, users argued that Eric Trump isn’t "confessing" about sizable profits amid potential ethical conflicts, but rather he is "bragging" about it.
“Wipe out billions with a single angry tweet. Make billions from crime,” Mert Mumtaz, founder of Helius Labs, said on X, referring to Friday’s flash crash that took place after Trump stated that he’ll apply “massive” new tariffs on China.
“Something tells me the other side will politicize crypto next election,” Mumtaz added.
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