Donald Trump Aims to Make the U.S. the World’s Crypto Hub as His Businesses Dive Into Cryptocurrency
By Declan Harty | POLITICO | January 29, 2026
Former President Donald Trump, long known for his real estate empire and television prominence, has added a new label to his portfolio: cryptocurrency tycoon. As he serves his second term in the White House, a growing portion of Trump’s wealth is now tied to the burgeoning crypto market—a sector witnessing increased involvement from his family and business associates.
Expanding Trump Businesses into Crypto
Unlike most presidents who typically distance themselves from their personal business activities during their tenure, Trump and his family have actively embraced the crypto industry. Over the past year, they have backed various cryptocurrency startups and forged new deals, significantly expanding their presence in the digital currency space. Media reports estimate these ventures have boosted Trump’s net worth by approximately $1 billion.
One of the most lucrative activities has been the trading of $TRUMP- and $MELANIA-branded “memecoins,” which has generated hundreds of millions of dollars in fees. Trump Media & Technology Group, the parent company of Truth Social—and where Trump holds the largest ownership stake—announced plans to accumulate crypto tokens last year.
Additionally, World Liberty Financial, a Trump-supported crypto enterprise, has been actively pursuing partnerships globally and increasing its operations within the United States.
Blurring Lines Between Presidency and Business
World Liberty Financial recently filed an application to launch a federally regulated national trust bank in the U.S. This bank would enable the company to have direct control over the issuance of its stablecoin, USD1, and manage the sizable assets backing it. Stablecoins are digital tokens pegged to the U.S. dollar and are central to crypto transactions.
This move has sparked concerns about potential conflicts of interest, as a Trump-related business would fall under direct supervision of a federal regulatory agency headed by an official appointed by Trump’s administration.
Corey Frayer, a former SEC crypto policy expert, commented, “It’s a pretty straightforward smash-and-grab while the president has control over economic and regulatory policy… A bank is a fundamentally different kind of business that really can only function with the explicit approval of the government.”
White House Press Secretary Karoline Leavitt rejected accusations of conflicts of interest, stating, “Trump and his family have never, and will never, engage in conflicts of interest. Media attempts to fabricate such conflicts are irresponsible.”
World Liberty spokesperson David Wachsman emphasized that their national trust bank application aims to bring “more regulation, not less,” increasing transparency and consumer protection. He also pointed out that the Trumps hold only a nonvoting stake and do not control daily operations. Furthermore, the federal Office of the Comptroller of the Currency (OCC), which is reviewing the banking application, granted similar conditional approvals to five other crypto firms last December.
Political Pushback and Ethical Concerns
Despite the administration’s assertions, resistance continues. Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, urged the OCC to halt its review of World Liberty’s application until alleged financial conflicts of interest between Trump’s family and the company are fully resolved. OCC Comptroller Jonathan Gould declined to comply with Warren’s request, stating the agency’s review is “inherently apolitical” and rigorously applied.
About 38% of World Liberty’s holding company is owned by an entity affiliated with Trump and his family, according to company disclosures. Donald Trump himself is listed as a “co-founder emeritus,” with sons Donald Trump Jr., Eric Trump, and Barron Trump as co-founders. The planned bank would be led by Zach Witkoff, son of White House envoy Steve Witkoff.
Ethics experts note there is no current evidence that Trump or his family are violating laws, although many critics argue the situation presents significant conflicts. Connecticut Senator Chris Murphy remarked, “A lot of voters priced in the fact that he was going to keep making money while in the White House.”
Trump has shrugged off such concerns, telling The New York Times, “I found out that nobody cared. I’m allowed to.” He noted that during his first term he barred his family from business dealings but received no credit for that decision.
Kimberly Benza, a Trump Organization spokesperson, called conflict of interest allegations “categorically false” and highlighted the company’s “strict internal ethics standards” and the presence of an independent outside ethics adviser.
Crypto’s Rising Role in Trump’s Wealth and Policy Shift
While real estate remains the backbone of Trump’s empire, his crypto ventures have become a major new financial frontier. Forbes estimates his net worth has surged from $3.9 billion in 2024 to over $6.5 billion today.
Under Trump’s administration, the regulatory environment around cryptocurrency has shifted significantly. The SEC dropped lawsuits against major crypto exchanges including Coinbase, Binance, and Kraken, and paused a fraud investigation against notable crypto figure Justin Sun, a significant investor in Trump’s memecoin projects. The Justice Department has also scaled back enforcement actions against the crypto sector.
Trump even pardoned Binance founder Changpeng Zhao, who had served prison time on money laundering-related charges. Notably, an Abu Dhabi fund invested $2 billion in Binance using World Liberty’s stablecoin.
Last summer, Trump signed legislation integrating stablecoins into the mainstream financial system, a move welcomed by many in the crypto world. The administration’s softer stance represents a marked departure from prior regulatory crackdowns.
Mixed Reactions Within Politics and Industry
While many crypto executives applaud the administration’s approach, some Republicans express caution. Senator Cynthia Lummis, a known crypto advocate, reportedly voiced discomfort about a Trump-backed $TRUMP token investor event. Democrats continue to push for stronger ethics rules regarding presidential conflicts of interest, including within proposed crypto regulations, but bipartisan agreement remains elusive.
Looking ahead, some Democratic lawmakers hope to investigate Trump’s crypto dealings if they regain Congressional control in upcoming midterm elections. “We’re likely to see endless investigations to get to the bottom of these schemes,” Senator Murphy predicted.
Industry insiders brace for potential increased scrutiny under a Democratic Congress, recognizing the sector’s vulnerability to political shifts.
Conclusion
Donald Trump’s unique melding of his presidential role with expansive crypto business activities represents an unprecedented situation in American politics. As the administration navigates this complex intersection of governance, finance, and ethics, the crypto market watches closely—poised for either further growth or intensified regulatory challenges depending on the political tides.
For more updates, follow POLITICO’s coverage of cryptocurrency, politics, and President Trump’s business ventures.