A new report claims President Trump significantly boosted his wealth after getting involved in cryptocurrency.
Crypto King?
The State Democracy Defenders Action, a non-profit group, says Trump’s crypto investments, along with potentially favorable regulatory changes, have led to a massive increase in his net worth. They estimate his crypto holdings are worth a whopping $2.9 billion – a significant 37% of his total $7.7 billion in assets.
Regulatory Advantage?
The report suggests Trump’s influence has allowed for looser regulations on tokens connected to his company, World Liberty Financial (WLFI), founded in September 2024. This, they argue, gives him an unfair advantage over other government officials who are subject to stricter conflict-of-interest laws. The addition of a new stablecoin to WLFI’s portfolio is expected to further increase his profits.
Congress Could Act
The report concludes that Congress has the power to prevent future presidents from using their office for personal financial gain in the crypto market. They suggest legislation banning elected officials from owning stablecoins and other digital assets.