Trump Family Crypto Empire Earned Over $1 Billion, FT Says

US President Donald Trump and his family earned more than $1 billion in pre-tax profits from their cryptocurrency ventures over the past year, the Financial Times reported.

That $1 billion reflects only realized profits, indicating that after gains on their crypto holdings from rising prices are factored in, the family likely earned much more, the FT’s story indicated.

Most of the profits came from the DeFi platform World Liberty Financial and its USD1 stablecoin, the American Bitcoin mining firm, and sale of the TRUMP and MELANIA meme coins, the FT said.

The TRUMP and MELANIA meme coins generated around $427 million in revenue, while WLFI token sales brought in about $550 million, the FT said. It added that World Liberty Financial’s USD1 stablecoin has generated $2.71 billion.

When the Financial Times approached Eric Trump, one of the President’s sons, to ask whether the $1 billion calculation in pre-tax profits was correct, he said that the true figure was “probably more.”

”The heart of Trump’s newfound wealth is a rapidly growing cryptocurrency empire built by the president and his family,” the FT story said. ”This business has already reaped more than $1bn in pre-tax profits over the past year, in part thanks to a crypto boom fuelled by the administration’s own industry-friendly policies.”

Crypto Assets Also Boost Trump Family’s Net Worth

The paper added that crypto ventures have bolstered Trump’s net worth on paper by billions of dollars, citing his stake in Trump Media & Technology Group, the parent company of Truth Social and a Bitcoin treasury firm, is worth $1.9 billion

There have also been strategic moves made by other companies linked to the Trumps. One of these moves is Trump Media’s partnership with crypto exchange Crypto.com. Trump Media also announced a $2.5 billion raise in May to add Bitcoin to its balance sheet.

According to data from Bitcoin Treasuries, Trump Media is currently ranked as the eight-biggest BTC treasury firm globally with 15,000 Bitcoins on its balance sheet. 

Top 10 largest corporate Bitcoin holders (Source: Bitcoin Treasuries)

Its current holdings rank it above Coinbase, which is one of the largest crypto exchanges in the US. Trump Media also holds more BTC on its books than crypto miners CleanSpark and Hut 8 Mining. It even holds more BTC than Elon Musk’s Tesla, which has reserves of 11,509 BTC.

Trump Delivers On Promise To Become Crypto President

Trump has pivoted from a crypto skeptic during his first term in the White House to calling himself ”crypto president” this time around. During his campaign, he made a series of promises to the digital asset industry in a push to make the US the “crypto capital” of the world.

He is delivering on those promises. At the start of the year, he signed a bill to establish a US Strategic Bitcoin Reserve. He also signed the GENIUS Act, a regulatory framework for stablecoins, into law in July.

Conflict Of Interest?

Critics including Democratic lawmaker Elizabeth Warren have called for an investigation into President Trump and and his family for possible conflict of interest.

Early this month, Donald Trump Jr. called those claims “complete nonsense,’’ arguing that his father doesn’t track such investments.

“I don’t think anyone actually believes that my father…would be looking at ledgers on the blockchain to see who bought what, and that carrying any kind of favor,” he said.