There are destructive long-term consequences to Trump’s self-dealing that undercut long-standing American institutions and core values.
Donald Trump began to make money on his presidency by launching a TRUMP meme coin and through other cryptocurrency schemes even before he was sworn into office on January 20, 2025. This is the first in a series of monthly articles on corruption, defined as “obtaining private gains from public office through bribes, extortion, and embezzlement of public funds,” during Trump’s second administration.
From being a crypto critic in 2019, Trump has become one of its staunchest advocates and biggest beneficiaries during the past year. He has stated that he wants to make the US the “crypto capital of the planet.’”
According to Coursera, “unlike traditional currency which represents physical money, cryptocurrencies are purely digital assets.” There is potential value in blockchains, the technology on which most cryptocurrencies are based, as “decentralized digital ledger[s] that securely store records across a network of computers in a way that is transparent, immutable, and resistant to tampering.” However, as the Reserve Bank of Australia notes, “Cryptocurrencies have no legislated or intrinsic value; they are . . . worth what people are willing to pay for them in the market.”
A meme coin is simply a form of crypto based on a unique internet meme, like a funny dog or a President of the United States. Now, imagine the money you could make if you had the power not only to regulate the cryptocurrency “industry” but also to create your own meme coin and use it as a way to sell influence to enrich yourself and your family.
Trump’s burgeoning crypto empire
The Trump Organization (wholly owned by Donald Trump) has formed two limited liability companies that are directly involved in the issuance and marketing of cryptocurrencies. In addition to making (or losing) money in the crypto marketplace, these companies make money on fees each time one of their memes or other crypto products is bought or sold.
As president, Trump selects the members of the Securities and Exchange Commission, which regulates the crypto industry in the United States.
There are numerous potential conflicts of interest related to the Trump administration’s simultaneous regulation of crypto and Trump’s ownership of crypto companies:
- the potential for self-serving regulations related to the crypto market;
- using his role as president to promote his own crypto products;
- holding special events to increase the value of his crypto products, thus making money off of the buying and selling of these products; and
- having “insider trading” knowledge that gives him, his family and cronies the opportunity to buy crypto products in advance of public announcements of special events that are likely to raise the value of these products (and then to sell them after the announcement has driven their market price up).
Since it’s hard to wrap one’s head around the complexities of the crypto world, the Official Trump Meme provides a good peek behind the curtain.
Gambling on Trump?
On January 17 (three days before his inauguration), Trump trumpeted on his official X account: “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW!”
As cited in the January 19 edition of The Washington Post: [The] president-elect’s sons, Eric and Donald Jr., described the [meme coin] project . . . as the “hottest digital meme on earth,” and they promised the Trump family’s separate crypto project—a new token and platform called World Liberty Financial—would be the “future of finance.”
If you’d like to know more about the ins and outs of the World Liberty Financial deal, click here.
A May 13 CBS news article provides some background information to the $STRUMP meme coin. “When the . . . coin was first launched, its creators initially released 20% of the planned 1 billion total coins. Half of that 20% [100 million coins] was put up for public sale while the other half [100 million coins] was put into a liquidity pool. CIC Digital, an affiliate of the Trump Organization, and another company called Fight Fight Fight [also an affiliate of the Trump Organization], receive ‘trading revenue derived from trading activities’ of the Trump meme coins.”
According to bidget.com, a total of 1 billion Trump coins will be put up for public sale within three years of the initial launch.
Filling Trump’s Digital Wallet
A March 2025 Financial Times analysis found that the crypto project netted at least $350 million through the sales of tokens and fees in the first three weeks after the launch. The authors of the article were not able to ascertain what percentage of the sales and fees went to the Trump Organization.
The Financial Times article went on to report that “Trump has faced a fierce backlash since he and his wife Melania launched memecoins, tokens with no practical use whose value is entirely based on speculation, just days before his return to the White House. Investors and ethics experts have said the sale of crypto tokens would in effect allow a way to channel anonymous donations to the president while also exploiting retail investors.”
On April 24, The Washington Post reported a renewed push on the sale of $TRUMP meme coins. “Buyers have poured tens of millions of dollars into President Donald Trump’s meme coin since his team advertised Wednesday [April 23] that [the top 220] purchasers could join Trump for an ‘intimate private dinner’ . . . on May 22 at the President’s Trump National Golf Club outside Washington.”
On the evening of the event, Reuters provided more details: “In total, investors spent an estimated $148 million on the $TRUMP meme coin to secure their seats at the dinner, with the top 25 holders spending more than $111 million, according to crypto intelligence firm Inca Digital. These top holders enjoyed a private VIP reception with Trump, and the four largest investors also received a limited edition Trump Tourbillon watch that sells for $100,000.”
Conclusion
Trump’s involvement in the crypto industry is being referred to by some analysts as “The Most Corrupt Presidential Act in History.”
I’m afraid, however, that we ain’t seen nuthin’ yet. A common synonym for “corruption” is “rot.” There are destructive long-term consequences to Trump’s self-dealing that undercut long-standing American institutions and core values. Like rot, when left unchecked, corruption spreads, weakening everything it touches. The consequences will be difficult for us to recover from as a nation, even after Trump is just a sordid footnote in our history.
Presidential Corruption 