Donald Trump Vows to Make the U.S. the Global Crypto Hub; His Businesses Tap Into the Boom
By Declan Harty, POLITICO — January 29, 2026
Donald Trump, known for his real estate empire and presidential tenure, has taken on a new mantle as a cryptocurrency tycoon. Over the past year since returning to the White House, Trump’s business interests have aggressively expanded into the digital currency space, intertwining his presidential role with his growing crypto ventures.
A New Frontier for Trump’s Business Empire
Historically, U.S. presidents have distanced themselves from personal business dealings while serving in office to avoid conflicts of interest. However, Trump, his family, and associated business partners have taken a markedly different approach during his second term. They have backed numerous cryptocurrency startups and deals that have significantly increased Trump’s financial holdings—by an estimated $1 billion, media reports indicate.
A notable phenomenon has been the rise of $TRUMP- and $MELANIA-branded memecoins, digital tokens inspired by internet culture. Trading these tokens has generated hundreds of millions of dollars in fees for the Trump family and partners. Additionally, Trump Media & Technology Group, best known for its Truth Social platform, plans to amass crypto tokens as part of its assets. Another Trump-related entity, World Liberty Financial, is striking strategic deals both internationally and across the United States, aiming to solidify Trump’s footprint in crypto finance.
Launching a Federally Regulated Crypto Bank
World Liberty Financial recently made a significant move by applying to establish a national trust bank federally regulated within the U.S. This bank would oversee the issuance of USD1, a stablecoin pegged to the U.S. dollar, and manage billions of dollars in customer assets backing it. The federal oversight would be conducted by the Office of the Comptroller of the Currency (OCC), a regulatory agency under the U.S. Treasury Department.
The proposed bank’s creation has raised questions about potential conflicts of interest. Trump and his family hold approximately 38% ownership of World Liberty’s parent company. Donald Trump holds the honorary position of “co-founder emeritus,” while his sons Donald Jr., Eric, and Barron Trump are co-founders. The bank itself would be helmed by Zach Witkoff, son of White House envoy Steve Witkoff—a detail highlighting the intertwining of Trump’s political and business circles.
Corey Frayer, a former securities regulator under the Biden administration, characterized this as a “smash-and-grab” effort, exploiting the president’s influence over economic and regulatory policy to benefit personal business interests.
In response, World Liberty maintains that the application signals a commitment to increased regulation, transparency, and consumer protection. Company spokesperson David Wachsman emphasized that Trump and his family have no controlling stake in the trust company’s operations. The OCC also noted it employs rigorous, apolitical standards in reviewing such applications and recently granted conditional approval to five other crypto firms for similar charters.
Political Fallout and Ethics Concerns
Senator Elizabeth Warren, top Democrat on the Senate Banking Committee, has expressed strong opposition, urging the OCC to halt review of the World Liberty application until Trump resolves all potential financial conflicts of interest. The Comptroller of the Currency, Jonathan Gould, declined to suspend the review.
White House Press Secretary Karoline Leavitt dismissed allegations of conflicts of interest as baseless, accusing the media of fostering distrust. Meanwhile, ethics experts have found no laws broken by Trump or his family, and with Congress under Republican control, legislative efforts to impose new ethical restrictions appear stalled.
Senator Chris Murphy, a Democrat from Connecticut, highlighted public acceptance of Trump profiting while in office: “If we’re being honest, a lot of voters priced in that he was going to keep making money.”
Trump himself has expressed little concern about conflicts, telling The New York Times, “I found out that nobody cared. I’m allowed to.” He noted that during his first term he prohibited family business activities, which he believed gave him no credit.
The Trump Organization insists it operates independently from the White House, with strict internal standards and an external ethics advisor to maintain transparency.
Trump’s Crypto-Friendly Regulatory Approach
Alongside business expansion, the Trump administration has reshaped the regulatory environment for cryptocurrencies. The Securities and Exchange Commission (SEC) has dropped or paused several high-profile lawsuits against major crypto exchanges such as Coinbase, Binance, and Kraken. Notably, the Justice Department pulled back on enforcement actions, and Trump issued a pardon to Binance founder Changpeng Zhao, who had served time on money laundering charges.
Legislators are currently considering comprehensive legislation to regulate the crypto market nationally—a move welcomed by the crypto industry, which had previously faced intense regulatory scrutiny.
This realignment has won favor among crypto executives, though some Republicans remain uneasy. For instance, Senator Cynthia Lummis of Wyoming voiced reservations about a fundraiser featuring $TRUMP-branded crypto tokens.
Democrats continue pushing for stricter conflict-of-interest provisions within crypto regulation, though bipartisan agreement remains elusive. Many observers suggest that the midterm elections may prove pivotal; should Democrats regain control of Congress, intensified investigations into Trump’s crypto dealings could follow.
Looking Ahead
With Trump’s estimated net worth soaring to more than $6.5 billion—up from $3.9 billion in 2024 according to Forbes—crypto is rapidly becoming a cornerstone of his business interests alongside traditional real estate and ventures into sectors like nuclear fusion.
As the U.S. positions itself to become a leading global player in cryptocurrency, Trump’s unique blend of political power and personal business ambitions is challenging long-established norms and raising critical questions about ethics and governance in the digital age.
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