The second term of US President Donald Trump has seen a remarkable rise in his personal wealth, much of it associated with a vast cryptocurrency empire developed by him and his family.
A Financial Times investigation reveals that Trump’s crypto activities have generated over $1 billion in pre-tax profits in the past year. His son, Eric, indicated to the outlet that the family’s actual earnings could be “even more.”
At the heart of this newfound wealth is World Liberty Financial, a cryptocurrency firm established by Trump’s sons and allies, which has sold billions in tokens and stablecoins. The project, which lists President Donald Trump as “co-founder emeritus” on its website, launched last year with intentions to create a crypto-lending application.
In June, Trump reported $57.4 million in income from his role with World Liberty Financial. Last month, the Trump family’s investment in the venture soared to $5 billion following a token unlock. The FT approximates the family has earned $550 million from WLFI this year.
Trump family ventures into memecoins
The Trump family has also found success with memecoins like Official Trump (TRUMP) and Official Melania Meme (MELANIA), which together generated hundreds of millions through sales and trading fees.
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According to the FT report, the TRUMP memecoin generated a profit of $362 million for the family, while MELANIA earned $65 million. Notably, the TRUMP memecoin has declined over 90% from its peak, whereas MELANIA has fared even worse, falling more than 99% from its highest value.
The Trump family also earned $42 million from USD1, the stablecoin launched by World Liberty. Since its debut in early April, this Trump family-supported stablecoin has become the fifth-largest globally, with a market cap of $2.68 billion, as per CoinMarketCap.
Additionally, Trump’s personal investment in Trump Media & Technology Group, the parent entity of Truth Social and a Bitcoin treasury, is now valued around $1.9 billion, according to the FT report.
On Wednesday, the billionaire Peter Thiel-backed Erebor obtained preliminary approval to establish a bank focused on serving crypto, AI, and tech startups, which reportedly has connections to Trump.
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Trump’s crypto operations engage treasury firms
Last week, news surfaced that the startup behind Trump’s official memecoin is aiming to raise at least $200 million to develop a digital-asset treasury designed to buy back the token to stabilize its value.
In August, ALT5 Sigma Corporation announced its intentions to raise $1.5 billion through the sale of 200 million common shares at $7.50 each to expand its WLFI corporate treasury.
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