Trump has made more than $1B from crypto in a year
4 hours ago
- #Financial Controversy
- #Donald Trump
- #Cryptocurrency
- Donald Trump earned over $1 billion from cryptocurrency in the past year, despite previously calling it a 'scam'.
- Trump's crypto ventures include the $TRUMP memecoin, governance token WLFI, and stablecoin USD1, primarily operated through World Liberty Financial and affiliated companies.
- The $TRUMP memecoin generated over $600 million, while World Liberty brought in more than $500 million, contributing to Trump's estimated net worth rise from $2.3 billion in 2024 to $6 billion.
- USD1 stablecoin benefited from Binance's involvement and a $2 billion investment from Abu Dhabi's MGX, creating significant interest-earning reserves and regulatory leniency.
- Trump's crypto dealings have raised corruption concerns, with critics alleging conflicts of interest and untraceable gifts, while some regulations like the GENIUS Act are seen as positive but risk being undermined.