Trump Earns $57 Million From Crypto Token Sales

Donald Trump, during his presidential campaign, pledged to embrace blockchain technology, a promise that has now materialized into a significant part of his business ventures. The White House recently released Trump's first financial disclosure report as president, which sheds light on his diverse business interests, including golf courses, sponsorship deals, and a publicly traded media group. Notably, the report also provides insights into Trump's crypto platform, World Liberty Financial, which was announced by his sons last summer.

According to the disclosures, Trump has earned over $57 million from token sales on the World Liberty Financial platform. He holds nearly 16 billion governance tokens, which are the crypto equivalent of voting shares. Based on earlier sales of these tokens to accredited investors, valued between 1.5 and five cents, Trump’s holdings could be worth nearly $1 billion. However, it is important to note that the token is not currently trading, and this valuation is based on past transactions.

Trump's involvement in the crypto industry has raised concerns among government watchdogs, who argue that his ventures represent a conflict of interest. This is particularly relevant as Congress debates blockchain regulation. The new report offers the first substantial look at the president’s increasing entanglement with digital assets, highlighting the potential for significant financial gains from his crypto investments.

Before his third run for president, Trump had expressed skepticism about crypto, describing Bitcoin as a “scam.” However, his stance shifted as he embraced the blockchain industry on the campaign trail. Companies such as Coinbase and Ripple poured tens of millions of dollars into donations, a reaction to the Biden administration’s crackdown on the sector. Trump not only touted the technology at industry events but also began to explore his own ventures in the space, primarily through World Liberty Financial.

The platform, announced by his son Eric last August, promised a “new era of finance,” though its exact function remains unclear. World Liberty has launched a series of products, including the governance token and a dollar-pegged stablecoin called USD1. The stablecoin was used by an Emirati investment firm to invest $2 billion into the leading crypto exchange Binance in May. The financial disclosure report offers the first details on the president’s profit from token sales, including the $57 million earned off token sales. World Liberty offered WLFI to accredited investors, including the Chinese crypto entrepreneur Justin Sun, who had previously faced charges from the Securities and Exchange Commission that were dropped after Trump took office.

The report does not include details on Trump’s other major crypto project—his memecoin, also called Trump, which he launched the weekend before his inauguration. While Trump’s memecoin has plummeted in value since its release, dropping from a market capitalization of $9 billion in January to around $2 billion today, it has remained a source of potential profit—and controversy—for Trump, whose organization likely owns around 80% of the total supply. Trump hosted a dinner for the top holders of the memecoin in May, from lawmakers across the aisle and even industry lobbyists.

Trump continues to advance crypto industry priorities, including legislation in Congress that would establish regulation for stablecoins and token issuance. Despite real estate dominating his holdings, Friday’s financial disclosure report demonstrates the increasing importance of crypto to his business empire. This report underscores the growing influence of digital assets in Trump's financial portfolio and his strategic moves to capitalize on the burgeoning crypto market.