In early 2025, former President Donald Trump launched his own cryptocurrency, the $Trump Coin, marking a significant foray into the digital asset space. Within days, the coin’s value skyrocketed, making it one of the top cryptocurrencies by market capitalization. Trump’s deep involvement in cryptocurrency, including ventures like World Liberty Financial (WLF) with his sons, has raised serious ethical and legal concerns. The Trump family reportedly amassed nearly $3 billion from crypto ventures within a year, aided by foreign investments—particularly a $2 billion deal involving WLF, an Abu Dhabi financial fund, and Binance, a crypto exchange previously convicted for money laundering. Critics, including Democratic lawmakers and watchdog groups, warn of unprecedented conflicts of interest and potential corruption, as Trump deregulates the crypto industry while directly profiting from it. Trump’s promotion of his personal memecoin, $Trump, at high-dollar events with top buyers—many foreign—further underscores allegations of influence-peddling. Justin Sun, a controversial crypto investor and legal target of the SEC, is among the largest backers. Despite ethics pledges, Trump’s active participation in crypto events and push for industry deregulation while in office has led to bipartisan criticism and legislative efforts like the End Crypto Corruption Act, aiming to curb abuse. Concerns persist over national security, foreign influence, and undermining trust in government institutions.
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