Donald Trump Vows to Make U.S. the Crypto Capital as His Business Empire Embraces Digital Currency
By Declan Harty
January 29, 2026
WASHINGTON — Donald Trump, known for his real estate empire and television fame, has now added "cryptocurrency tycoon" to his list of titles. Over the first year of his second presidential term, Trump and his family have significantly expanded their involvement in the cryptocurrency market, intertwining his business ventures with his role in government in unprecedented ways.
A New Frontier: Crypto and the Trump Empire
Historically, U.S. presidents have distanced themselves from their private enterprises to avoid conflicts of interest. However, Trump and his family have taken a different path, actively backing a host of crypto startups and projects that have increased his wealth by an estimated $1 billion, according to various media analyses.
Trading activity involving $TRUMP- and $MELANIA-branded "memecoins" has generated hundreds of millions of dollars in fees that benefit the Trump family and their partners. Trump’s media company, Trump Media & Technology Group, which counts the former president as its largest shareholder, announced last year it would begin accumulating cryptocurrency tokens.
Among the most prominent ventures is World Liberty Financial, a cryptocurrency operation affiliated with Trump that has aggressively pursued deals domestically and internationally. This entity recently applied to establish a federally regulated bank in the United States — a move that could further entangle Trump’s private interests with his presidential duties.
World Liberty Financial’s Bank Application Raises Eyebrows
World Liberty’s application to launch a national trust bank, which would give the company control over the issuance of its stablecoin USD1 and the vast customer assets that back it, marks a significant development. Stablecoins are digital tokens pegged to the U.S. dollar and serve as a crucial form of currency within the crypto ecosystem.
Such a banking charter would place World Liberty and its assets under federal regulatory oversight, specifically from the Office of the Comptroller of the Currency (OCC), an agency headed by a Trump appointee. Critics argue this arrangement presents clear conflicts of interest, as it places a Trump-linked business under the supervision of a regulator appointed by the president.
“It’s a pretty straightforward smash-and-grab while the president has control over economic and regulatory policy,” said Corey Frayer, a former Securities and Exchange Commission crypto policy expert during the Biden administration. “A bank is a fundamentally different kind of business that really can only function with the explicit approval of the government.”
Despite these concerns, the OCC has insisted its review process is apolitical and rigorous. The agency recently granted conditional approvals for similar charters to five other crypto companies. The spokesperson for World Liberty, David Wachsman, emphasized that the bank would be subject to increased regulation and consumer protections, stressing that the Trump family holds a non-voting stake and would not control daily operations.
Political and Ethical Concerns
Senator Elizabeth Warren (D-Massachusetts), senior Democrat on the Senate Banking Committee, has urged the OCC to delay reviewing World Liberty’s application until Trump removes "all financial conflicts of interest" between himself, his family, and the company. The OCC has declined to act on Warren’s request.
An entity linked to Trump and his family owns approximately 38% of World Liberty’s holding company. Trump himself is listed as a "co-founder emeritus," while his sons—Donald Jr., Eric, and Barron—are co-founders. The proposed bank would be led by Zach Witkoff, son of White House envoy Steve Witkoff and a World Liberty co-founder.
White House Press Secretary Karoline Leavitt has denied any conflict of interest, calling media reports alleging otherwise "irresponsible" and claiming they foster public distrust.
Crypto-Friendly Governance and Rising Net Worth
Under Trump’s administration, regulatory scrutiny on cryptocurrency firms has noticeably softened. The Securities and Exchange Commission dropped high-profile lawsuits against prominent crypto companies, including Coinbase, Binance, and Kraken, and paused a fraud case against Justin Sun, a major backer of the Trump memecoin.
Moreover, Trump pardoned Binance founder Changpeng Zhao after his imprisonment related to money laundering allegations. This pardon came shortly after World Liberty’s stablecoin facilitated a $2 billion investment in Binance by an Abu Dhabi fund.
The Trump administration also enacted legislation integrating stablecoins into the mainstream financial system, a significant policy shift welcomed by the crypto industry.
Consequently, Trump’s personal net worth has surged to an estimated $6.5 billion from $3.9 billion in 2024, according to Forbes, driven in part by his increasing crypto holdings.
Political Ramifications and Future Outlook
While many in the crypto world view Trump’s crypto-friendly stance as a reprieve from prior regulatory pressures, some Republican lawmakers have expressed unease. Senator Cynthia Lummis (R-Wyo.), a longtime cryptocurrency advocate, revealed discomfort over a planned dinner for $TRUMP token investors.
Democrats continue to push for stronger conflict-of-interest protections as part of pending crypto legislation, but negotiations with GOP leaders and the White House have yet to yield concrete results. Some Democrats hope that a potential shift in congressional power after the 2026 midterms could spark investigations into Trump’s crypto-related dealings.
Senator Chris Murphy (D-Conn.) lamented that many voters expected Trump to continue profiting during his presidency and noted there is little Congress can currently do with Republican control.
Looking Ahead
Trump remains unapologetic about merging his presidential role with his business interests. He told The New York Times this month, “I found out that nobody cared. I’m allowed to.”
With Trump’s business ventures extending beyond real estate into areas such as nuclear fusion and now cryptocurrency, the boundaries between governance and personal profit are under unprecedented strain.
Industry insiders brace for increased scrutiny, especially if Democrats regain control of Congress. Until then, Trump’s growing presence in the crypto market marks a bold new chapter in the intersection of politics, business, and the evolving digital economy.