According to a new report from State Democracy Defenders Action, President Donald Trump's wealth has significantly increased due to cryptocurrency, totaling around $2.9 billion.
Sources of Trump's Cryptocurrency Income
The organization reports that nearly 40% of Trump's wealth is tied to digital assets. Key sources of income include memecoins like Official Trump and Melania, as well as a substantial stake in the crypto exchange World Liberty Financial.
Investments and Ties to World Liberty Financial
World Liberty Financial announced plans to attract $2 billion from MGX by purchasing the new stablecoin USD1. Trump and his family control 60% of this exchange, as confirmed by its website.
Conflicts of Interest and Industry Influence
Concerns have been raised about conflicts of interest involving Trump and his team. For instance, his former crypto advisor, David Sacks, continues to hold shares in BitGo, which may raise further questions about the suitability of regulatory oversight of the crypto industry under Trump's administration.
Thus, Trump’s close ties to the cryptocurrency sector and growing wealth raise many questions about conflicts of interest and his administration's policy towards digital assets.
