Thumzup Expands Crypto Holdings to 90% of Assets Amid Financial Challenges

Thumzup, a marketing technology firm listed on the Nasdaq, has announced a significant expansion of its cryptocurrency holdings. The company, which previously focused solely on Bitcoin, has now diversified its treasury to include a range of altcoins. This strategic move allows Thumzup to hold up to 90% of its liquid assets in digital currencies, marking a notable shift in its financial strategy.

The board of directors approved the expanded asset list, which now includes Ethereum, XRP, Solana, Dogecoin, Litecoin, and USDC. This decision comes as Thumzup continues to navigate financial challenges, having reported a loss of $2.2 million in the first quarter of 2025. Despite these challenges, the firm's diversification into altcoins reflects a broader trend among corporations to integrate cryptocurrencies into their treasury holdings.

Donald Trump Jr., son of former U.S. President Donald Trump, holds a significant stake in Thumzup, with 350,000 shares valued at around $4 million. This investment underscores the Trump family's growing interest in corporate crypto treasuries. Earlier this year, Eric Trump joined the advisory board of a firm known for aggressively acquiring Bitcoin for its balance sheet, further highlighting the family's strategic pivot towards digital assets.

Thumzup's commitment to crypto assets aligns with a growing trend among corporations to leverage digital currencies for future acquisitions and financial stability. The company's strategic shift began in January 2025 when it started accumulating Bitcoin. The board approved the expansion of its crypto holdings after greenlighting Bitcoin as a treasury asset in November 2024, and the firm has since filed with the SEC to formalize these changes.

However, the investment by Trump Jr. in Thumzup is not without risks. The app has faced financial instability, with revenues of only $151 in the first quarter of 2025. The potential for impressive returns from cryptocurrencies, particularly Bitcoin, has driven Thumzup's strategic shift. The success of this bet will determine how effectively Thumzup can stabilize and utilize the value of its cryptocurrency holdings.

The Trump family's engagement with cryptocurrencies marks a significant shift in their stance on digital assets. Previously, Donald Trump had echoed views that termed crypto a scam in 2019. However, since March 2021, the family has reversed its position, aligning with the broader corporate trend of embracing cryptocurrencies. This strategic pivot by Thumzup, backed by Trump Jr., reflects a growing recognition of the potential of digital assets in the financial landscape.