Trump Personally Made Over a Billion Dollars on Crypto Last Year, All While Promoting and Deregulating It

Both as candidate and as president, Donald Trump has clearly identified crypto bros as potentially powerful sources of both political quid pro quo and personal enrichment. A new federal filing reveals that he has earned more than a billion dollars, split between World Liberty Financial and his Trump meme coin, at the same time as he is touting crypto and deregulating the market.

The Guardian reports:

Donald Trump has raked in more than $1bn from his crypto businesses since returning to the White House, according to financial disclosures, making him substantially richer and ringing alarm bells over a conflict of interest. …

While many of the president’s crypto ventures were startups when he took the oath of office, their revenue has now eclipsed much of his vast property portfolio. This rise has been fuelled by billionaire investors and Trump’s move to quash a federal crackdown on the industry.

In his second term, the president and his family have invested heavily in digital money and crypto businesses, with Trump announcing at the start of last year that he wanted the US to be the “crypto capital of the world.”

Trump has significantly loosened regulation and enforcement over the very industry from which he personally profits—the kind of overlap that would raise questions in any administration. Part of his actions in this area can be explained as his political interests in making a play for a wealthy constituency. But it’s also clear that he and his family have found ways to personally profit from policies he himself controls. As we previously observed at The UnPopulist, this is a way to let money flow directly to the politician’s coffers, without the pretense of a campaign donation.

The Executive Watch is a project of the Institute for the Study of Modern Authoritarianism, and its flagship publication The UnPopulist, to track in an ongoing way the abuses of the power of the American presidency. It sorts these abuses into five categories: Personal Grift, Political Corruption, Presidential Retribution, Power Consolidation, and Policy Illegality. Click the category of interest to get an overview of all the abuses under it.

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