During his presidential campaign last year, Donald Trump promised the crypto industry that he would be the first president to embrace blockchain technology. The White House recently released Trump’s first financial disclosure report as president, providing new insights into his business ventures, including his crypto platform, World Liberty Financial. The report revealed that Trump has earned over $57 million from token sales on the platform and holds nearly 16 billion governance tokens, which could be worth almost $1 billion based on earlier sales valuations. Trump’s involvement in crypto has raised concerns about potential conflicts of interest as Congress debates blockchain regulation.
Trump’s stance on crypto has evolved significantly. Just a few years ago, he described Bitcoin as a “scam,” but during his last campaign, he began to embrace the blockchain industry as companies like Coinbase and Ripple made substantial donations. He not only promoted the technology at industry events but also explored his own ventures in the space. World Liberty Financial, announced by his son Eric, promised a “new era of finance,” though its exact function remains unclear. The platform has launched several products, including governance tokens and a dollar-pegged stablecoin called USD1.
The financial disclosure report provides the first substantial look at Trump’s increasing entanglement with digital assets. World Liberty offered tokens to accredited investors, including Chinese crypto entrepreneur Justin Sun, who had previously faced SEC charges. While Trump’s profit from token sales is now known, details about his other major crypto project, his memecoin, remain limited. The memecoin’s value has dropped significantly since its release but remains a source of potential profit and controversy for Trump.
Trump continues to advance crypto industry priorities, including legislation for stablecoin regulation. The financial disclosure report highlights the growing importance of crypto in his business empire, alongside his real estate holdings. As government watchdogs raise concerns about potential conflicts of interest, Trump’s crypto ventures are likely to remain under scrutiny.
