Donald Trump and his family experienced a substantial financial boost on Monday, raking in approximately $5 billion as their cryptocurrency initiative, World Liberty Financial (WLFI), made its debut on public markets. This development marks a significant milestone in Trump’s ongoing foray into the world of cryptocurrency, a venture that has evolved dramatically since he previously dismissed Bitcoin as a “scam.” Now, as a self-proclaimed “big crypto fan,” Trump is actively pursuing opportunities to expand his wealth through digital currencies.
The launch of WLFI on Labor Day represents the most lucrative source of wealth for the Trump family to date. Trump’s three sons—Donald Jr., Eric, and Barron—are identified as cofounders of World Liberty, while Trump himself is mentioned on the company’s website as “cofounder emeritus.” This designation appears to be a strategic move to maintain the illusion of separating his presidential responsibilities from personal financial gain. According to a public financial disclosure report, Trump held 15.75 billion WLFI tokens at the end of 2024. Although the family is currently unable to sell these tokens, their newfound value places them above the worth of Trump’s real estate holdings, according to The New York Times.
In addition to WLFI, Trump’s involvement in the cryptocurrency space continues to expand. The Trump Media & Technology Group (TMTG), led by former Congress member Devin Nunes, recently announced the creation of a new company called Trump Media Group CRO Strategy. This venture aims to acquire and hold CRO tokens, developed by Crypto.com, with an ambitious goal of raising around $6.4 billion. The strategy includes $1 billion in tokens directly sourced from Crypto.com, complemented by a $5 billion credit line from an affiliate of the New Jersey financial firm Yorkville Acquisition Corp. This announcement follows TMTG’s prior acquisition of $2 billion in Bitcoin and Bitcoin-related securities, signifying a strong commitment to cryptocurrency.
Moreover, Trump signed the GENIUS Act into law in July, which eases the pathway for banks and financial institutions to issue stablecoins. During the signing ceremony, he asserted his administration’s commitment to making the U.S. the “crypto capital of the world.” However, critics have raised concerns over the act, claiming it favors wealthy crypto investors while exposing ordinary consumers to potential risks without adequate protections. Carla Sanchez-Adams, a senior attorney at the National Consumer Law Center, has called the act a benefit primarily for “crypto-billionaires and large corporate actors.”
Looking ahead, the Senate is expected to deliberate on the CLARITY Act, which the House passed in July. If enacted, the act would empower the Commodity Futures Trading Commission to regulate “digital commodities.” Proponents of the act argue it could simplify the regulatory framework for cryptocurrencies, while critics worry it may lead to a decrease in oversight over a sector that many deem inherently risky. Given Trump’s enthusiastic embrace of cryptocurrency, it’s likely he would support this legislation as well, despite skepticism voiced by some economists regarding its implications.
