Trump's Net Worth Surges 11% to $6 Billion on Crypto Gains

US President Donald Trump has seen a significant increase in his personal wealth, with his net worth rising by $620 million in recent months. This substantial boost is primarily due to his ventures in the cryptocurrency industry, which have become a notable part of his financial portfolio. Trump's estimated net worth now exceeds $6 billion, with crypto holdings representing roughly 9% of his wealth as of June.

The primary contributors to this increase are Trump's family-backed crypto business, World Liberty Financial, and his personal memecoin, Official Trump (TRUMP). World Liberty Financial has been particularly lucrative, with Trump and his three sons earning $390 million from $550 million in token sales. They collectively hold over $2 billion worth of the company’s governance tokens, WLF. Additionally, a $2 billion deal involving an Abu Dhabi-based investment firm, which used World Liberty Financial's USD1 stablecoin to settle an investment in a crypto exchange, could have netted the business an additional $100 million.

Trump's memecoin, Official Trump (TRUMP), has also contributed significantly to his wealth, with an estimated value of $150 million. However, the future value of this investment is uncertain, as millions of TRUMP tokens are set to be gradually unlocked over the next three years. It remains unclear whether Trump will be entitled to claim additional tokens.

In addition to these ventures, two of Trump's sons, Donald Trump Jr. and Eric Trump, own 20% in American Bitcoin, a subsidiary of a crypto mining firm. The company reported raising $220 million for equipment and Bitcoin (BTC) investments and plans to go public through a merger with another crypto mining company.

Trump's involvement in the crypto industry has sparked concerns among lawmakers, particularly Democrats, who have proposed legislation to bar US presidents, vice presidents, members of Congress, and their families from promoting or owning digital assets. These proposals aim to address potential conflicts of interest and insider trading. However, with Democrats in the minority in both chambers, these amendments have not gained enough support from Republicans to pass. Despite this, lawmakers continue to raise the issue, as seen in the recent Senate debate over Trump's budget bill, where a senator submitted an amendment to address conflicts of interest with the president’s crypto ventures.