Recent investigations by the Financial Times reveal that the Trump family has amassed over $1 billion through various cryptocurrency projects. This substantial gain, excluding tax deductions, has reportedly been confirmed by Donald Trump's son, Eric Trump, who suggested the actual profit could be significantly higher. The family's involvement spans multiple crypto ventures, including a DeFi platform and meme coins, contributing to this impressive financial surge.
Key Takeaways
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The Trump family has reportedly earned over $1 billion from cryptocurrency investments.
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A significant portion of these earnings comes from the DeFi platform World Liberty Financial (WLFI).
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Meme coins TRUMP and MELANIA also contributed to the family's wealth, despite recent market declines.
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The family holds a substantial stake in Trump Media & Technology Group, which is also investing in crypto.
The Trump Crypto Empire
At the core of the Trump family's crypto endeavors is the DeFi platform World Liberty Financial (WLFI), co-founded by Donald Trump's sons, with the former president listed as an "honorary co-founder." The platform has successfully raised $590 million across two funding rounds. Financial Times estimates that WLFI alone has generated at least $550 million for the Trump family since the beginning of the year. Donald Trump himself reportedly earned over $57 million from selling WLFI tokens, with his family's stake in the project valued at $5 billion.
Meme Coins and Stablecoins
Further bolstering the family's crypto wealth are the meme coins TRUMP and MELANIA, which collectively brought in $427 million. However, it's important to note that the value of these coins has plummeted by over 90% from their peak prices. Additionally, the stablecoin USD1, issued by WLFI, has added $42 million to the family's fortune. USD1 is currently the fifth-largest stablecoin by market capitalization, exceeding $2.7 billion.
Broader Investments and Future Ventures
Beyond these specific projects, Donald Trump's personal stake in Trump Media & Technology Group, the parent company of Truth Social, is estimated at $1.9 billion. This company is actively investing in cryptocurrencies and had previously filed for an ETF based on major cryptocurrencies. Furthermore, a new crypto bank named Erebor, reportedly linked to the former president and founded by his associates, including billionaire Peter Thiel, received approval in the US. This bank intends to operate with stablecoins, according to the Financial Times.
In a related development, Donald Trump filed lawsuits against The New York Times and Penguin Random House in September, citing alleged attacks on his meme coin.
Sources
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Media: The crypto industry has made the Trump family $1 billion richer, ForkLog.
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How the Trump companies made $1bn from crypto, Financial Times
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Trump’s second term fuels a $1B crypto fortune for his family: Report, Cointelegraph
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