Donald Trump Aims to Make the U.S. World’s Crypto Capital as His Business Empire Expands in Cryptocurrency
By Declan Harty | POLITICO | January 29, 2026
Donald Trump, the former real estate magnate and president, has evolved into a major player in the cryptocurrency arena. During his first year back in the White House, Trump’s business empire—previously best known for hotels and golf courses—has aggressively expanded its involvement in crypto ventures, signaling a strategic shift toward digital financial markets.
Crypto Ventures Bolstering Trump’s Wealth
Unlike past presidents who traditionally distance themselves from personal business dealings while in office, Trump and his family have blurred these lines by actively supporting a series of crypto startups and partnerships. Media reports estimate that these ventures have boosted Trump’s assets by approximately $1 billion.
A key piece of this expansion is the trading of $TRUMP- and $MELANIA-branded “memecoins,” which have generated hundreds of millions of dollars in transaction fees benefiting the Trump family and their business partners. Additionally, Trump Media & Technology Group, which owns Truth Social and counts Trump as its largest shareholder, announced a move to accumulate more cryptocurrency tokens last year.
One of the most notable projects is World Liberty Financial, a crypto firm backed by Trump that is growing its presence both domestically and internationally. In a recent development, World Liberty applied to establish a federally regulated bank in the U.S., potentially deepening the connection between Trump’s private business interests and his role as president.
Controversial Federal Banking Application
The proposed national trust bank would have control over issuing the company’s stablecoin, USD1, a digital token pegged to the dollar and central to the crypto economy. This move would bring World Liberty under the oversight of federal regulators, specifically the Office of the Comptroller of the Currency (OCC), overseen by a Trump appointee.
Critics, including Senator Elizabeth Warren—top Democrat on the Senate Banking Committee—have raised alarms about the potential for conflicts of interest. Warren urged the OCC not to move forward with the application until Trump addresses these concerns. The OCC declined her request and emphasized that their review process is apolitical and rigorous.
World Liberty reports that Trump and his family hold a nonvoting 38% stake in its holding company. Trump himself is listed as a “co-founder emeritus,” while his sons Donald Jr., Eric, and Barron are co-founders. The bank would be led by Zach Witkoff, co-founder and son of a White House envoy, who declined to comment on the matter.
World Liberty emphasized that the bank charter would impose increased regulatory scrutiny, enhancing transparency and consumer protections. The company also noted that similar crypto firms have already received conditional approval from the OCC.
Ethics and Conflict of Interest Concerns
Ethics experts acknowledge there is no evidence Trump or his family have broken laws, but many critics decry what they see as unprecedented conflicts of interest, especially given GOP control of Congress, which limits possibilities for oversight.
Senator Chris Murphy, a Democrat and vocal Trump critic, commented, “A lot of voters priced in the fact that he was going to keep making money while in the White House.” He called for investigations if Democrats regain control of Congress.
The White House press secretary, Karoline Leavitt, rejected allegations of conflicts of interest, calling such claims “categorically false” and emphasizing that Trump’s business and presidency remain separate. The Trump Organization reiterated it operates independently from the White House and follows strict internal ethics policies, including oversight by an independent ethics adviser.
Regulatory Shifts Favoring Crypto Industry
Trump’s administration has taken steps viewed positively by the crypto industry. His Securities and Exchange Commission (SEC) dropped lawsuits against major crypto platforms like Coinbase, Binance, and Kraken and paused a fraud case against Justin Sun, a significant investor in Trump’s memecoins. The Justice Department similarly eased enforcement actions.
In a notable move, Trump pardoned Binance founder Changpeng Zhao, who had previously served prison time over money laundering allegations. This occurred shortly after World Liberty’s stablecoin was used by an Abu Dhabi fund to invest $2 billion in Binance—a deal that underscored the intertwining of Trump-affiliated crypto ventures and global investments.
Trump also enacted legislation integrating stablecoins into the mainstream financial system, further elevating the crypto sector’s standing in Washington.
Mixed Reactions Among Politicians and Industry
While many crypto executives have welcomed the Trump administration’s favorable regulatory posture after years of scrutiny, some Republicans have expressed hesitation. Senator Cynthia Lummis of Wyoming, a crypto advocate, noted discomfort over investor dinners involving $TRUMP-branded tokens.
Democrats continue to push for new conflict-of-interest reforms tied to crypto legislation but have yet to secure agreements with Republicans or the White House.
The Road Ahead
Trump’s net worth has surged to over $6.5 billion, nearly double from $3.9 billion in 2024, with cryptocurrency forming a growing component of his wealth. His focus on crypto represents a significant pivot in his business strategy and could have enduring effects on the regulatory landscape.
For now, with political control favoring Republicans and regulatory agencies maintaining a hands-off approach, Trump’s business interests in cryptocurrency are expanding rapidly. However, looming elections and possible shifts in congressional power may bring intensified scrutiny and investigations into the president’s crypto dealings.
Contact the author at Declan Harty for further details on this developing story.