Trump's 100 days back at White House made him over $100 million? Senate wants to investigate...
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Trump's 100 days back at White House made him over $100 million? Senate wants to investigate...
"Billions? Just pocket change for these guys."
Navigating Web3 tides with focused insightsBy Josh Meyer, USA Today
Compiled and translated by BitpushNews
On his second day in office, U.S. President Donald Trump was asked whether he would continue profiting from personal business ventures, after the meme coin he launched—$TRUMP—briefly surged to a market value of $20 billion.
"I don't know much about it, except that I launched it. I heard it's been very successful," Trump responded. "I haven't checked. How much is it worth now?"
"You've made a lot of money, sir," a reporter pressed. "Seemingly tens of billions over the past few days."
"Tens of billions? That’s small change for these guys," Trump said, pointing at a group of tech billionaires gathered at the White House event.
Trump has never clearly stated whether he will stop using his presidential position for financial gain—an action nearly all previous U.S. presidents have pledged to avoid, historians note.
Massive Profits Spark Scrutiny
According to U.S. ethics watchdogs, Democratic lawmakers, and cryptocurrency analysts, two crypto investments linked to Trump-affiliated entities have earned at least $300 million in transaction fees since January through meme coins and other digital tokens. Analysts say even greater potential profits come from holdings of meme coin shares and other Trump-themed cryptocurrency investments held by Trump-linked entities.
Last week, another cryptocurrency project tied to the Trump family, World Liberty Financial, announced its digital token was used by an Abu Dhabi investment firm to fund a $2 billion investment into Binance. Democratic lawmakers and analysts say the deal poses a conflict of interest and could generate at least $27 million annually for World Liberty Financial.
In the meantime, the Trump administration has eased regulations on the cryptocurrency industry and disbanded a Justice Department unit aimed at combating crypto fraud.
Cryptocurrency is not the only source of income for Trump since returning to the White House. Experts say the president also profits from real estate, his Truth Social platform, and a range of branded merchandise.
"Right now, finding an exact number is extremely difficult, if not impossible," said Fred Wertheimer of the nonprofit accountability group Democracy 21. "And I don’t think that’s accidental."
"The president has long bragged about how many billions he owns, but it's different when you're president," Wertheimer said. "He isn't hiding all his business activities, but he certainly isn't reporting what's actually happening."
Senate Launches Investigation
Senator Richard Blumenthal, the top Democrat on the Senate Permanent Subcommittee on Investigations, told USA Today he is investigating Trump’s profits during his presidency.
Cryptocurrency ventures—including a digital meme coin celebrating Trump’s survival of an assassination attempt in July 2024—will be central to Blumenthal’s probe. He said Trump “makes money through trading, because trades generate fees, and through promoting or luring sales that drive up token prices.”
Blumenthal, a former Connecticut attorney general, said: “Whether it’s tens of millions or hundreds of millions, we need an investigation to confirm—but the brazenness of this conduct is shocking, absurd, and potentially threatens national security.”
Blumenthal added he is particularly concerned that the opacity of crypto transactions makes it nearly impossible to determine how much Trump has profited—or who might be buying Trump tokens to gain influence.
He said this could pose a national security threat, allowing foreign governments to enrich Trump without public knowledge—and win his favor.
A White House spokesperson denied this, saying there is no conflict of interest because the president’s assets are managed by his children. A spokesperson for World Liberty Financial, a crypto company controlled by the Trump family, told USA Today the firm is “unrelated to politics.”
Sneakers, Bibles—and Digital Currency
Compared to his first term, Trump has further shattered norms limiting a commander-in-chief from profiting off office.
Beyond meme coins and other cryptocurrencies, Trump and his business partners have promoted dozens of branded products, including Trump sneakers and a Bible personally signed by Trump.
According to Cryptopolitan and other crypto industry trackers, Trump has also plunged into digital art—non-fungible tokens (NFTs)—selling “Trump Bitcoin Trading Cards,” including over 100 new collectibles released in January 2025.
“Exclusive Private Dinners” for TRUMP Investors
On April 23, one of several private companies tied to Trump and his family raised the stakes by offering existing and new buyers of the $TRUMP meme coin “the most exclusive invitation in the world.”
According to the U.S. Securities and Exchange Commission (SEC), meme coins are crypto assets inspired by internet memes, characters, or trends, where “promoters seek to attract enthusiastic online communities to buy and trade the coin.”
The SEC says: “In this regard, meme coins resemble collectibles.” “Meme coins typically have limited or no utility.”
The $TRUMP meme coin is marketed as “the only official Trump meme, produced by President Donald J. Trump.”
However, fine print in its disclaimer notes the coin is “intended as an expression of support for and participation in the ideals and beliefs embodied by the $TRUMP symbol,” and “is not intended to be, nor should it be considered, any form of investment opportunity, investment contract, or security.”
The disclaimer states that CIC Digital LLC, a company affiliated with the Trump Organization, and Fight Fight Fight LLC jointly own 80% of the $TRUMP meme coin.
The $TRUMP website announced that the top 220 investors would win an “exclusive private dinner” with the president on May 22 at Trump’s golf club in northern Virginia.
The top 25 $TRUMP meme coin investors were promised an “ultra-VIP experience, including a private reception with the president and a White House tour.”
According to Finance Magnates and other crypto trackers, the $TRUMP meme coin surged as high as 80%, increasing its value by more than $100 million.
Jorah Huntington, a spokesperson for Chainalysis, told USA Today that data showed Trump and related entities earned $1.3 million in transaction fees just days after the dinner announcement, with total revenue exceeding $320 million.
"This is one of the most brazen, shocking cases of selling access to presidential power that I’ve ever seen," said Donald Sherman, executive director and chief counsel at Citizens for Responsibility and Ethics in Washington (CREW).
White House Says No Comment: “No Conflict of Interest”
The White House and the Trump Organization did not respond to multiple requests for comment on Trump’s meme coin and other investments.
Lawyer William Burck also did not respond. He was hired in January to strengthen ethical standards at the Trump Organization but was recently dismissed after reports surfaced that he also represented Harvard University in legal disputes with the Trump administration.
White House spokesperson Anna Kelley told USA Today: “The president’s assets are held in a trust managed by his children. There is no conflict of interest.”
Kelley referred to a January statement by the Trump Organization that upon entering the White House, Trump would hand over day-to-day management of his multibillion-dollar portfolio—including real estate, hotels, golf courses, media, and licensing—to his children.
But according to interviews by USA Today and reports from Democratic lawmakers and oversight groups, compared to his first term, Trump’s current arrangement is more susceptible to abuse. During his first term, countries like Saudi Arabia paid his businesses millions of dollars.
Historically, presidents have pledged not to profit while in office, ensuring policy decisions serve national interests—not personal gain—in order to maintain public trust.
"That’s no longer the case," said Danielle Brian, president of Project On Government Oversight. "President Trump has made it clear he intends to make as much money as possible while serving as president—and he’s doing so openly."
California Democratic Senator Adam Schiff, a former federal prosecutor, is among several Democratic senators calling for the Office of Government Ethics to investigate Trump’s crypto ventures, including whether his strategic Bitcoin reserve established in March improperly benefited his personal investments.
In a video posted on X, Schiff said: “Donald Trump is making a fortune, and the only losers are the American people.”
For Trump, who calls himself the first “crypto president,” $TRUMP is just part of a broader empire that includes a meme coin launched for First Lady Melania Trump, which initially reached a value of several billion dollars.
In another venture, the Trump family quietly took control in January of World Liberty Financial, a crypto firm that raised $550 million by selling its digital token $WLFI. Reuters reported in March that the Trump family captured the vast majority of those funds, aided by terms experts say favored insiders.
According to the company’s website and Reuters, the Trump family is entitled to 75% of net proceeds from World Liberty Financial token sales, 60% of operating income—and approximately $400 million in transaction fees.
WLF Response: “Completely Unrelated to Politics”
David Voskamp, a spokesperson for World Liberty Financial, told USA Today he could not comment on how much money Trump and his family have earned from the business.
He called allegations of conflicts of interest or corruption “the ultimate, top-tier exaggeration—completely wrong and false.” Voskamp described World Liberty as a “non-political organization. We are completely unrelated to politics.”
Trump’s personal stake in the company—which bears the slogan “Inspired by Donald J. Trump”—remains unclear.
In calling for an investigation, Schiff referenced Justin Sun, a crypto entrepreneur who injected $75 million into World Liberty Financial.
Sun has faced a civil fraud case brought by U.S. securities regulators involving celebrities such as Lindsay Lohan, Jake Paul, and rapper Soulja Boy.
In his video, Schiff said: “You won’t be surprised to learn that the fraud case against Justin Sun has now been put on hold by the Trump administration. The American people can no longer tell whether this government serves them or Donald Trump’s financial interests.”
William Sharon, Sun’s lawyer, did not respond to phone calls and emails seeking comment.
As of May 1, Sun—estimated to have invested $14 million—ranked near the top of the investor leaderboard on the $TRUMP meme coin website, qualifying him for the private dinner with Trump.
In recent months, World Liberty has expanded into other ventures.
On May 1, Zach Vekhov, one of World Liberty’s co-founders, announced that its “USD1 stablecoin” is being used by an Abu Dhabi company as the “official stablecoin” for a $2 billion investment into Binance, the world’s largest cryptocurrency exchange. (A stablecoin is a type of cryptocurrency whose value is pegged to another asset—such as the U.S. dollar.)
Vekhov said they are “excited” about the new deal. He is the son of Steve Vekhov, Trump’s chief diplomatic envoy, close friend, and billionaire developer.
According to CoinMarketCap, USD1 tokens reached a total value of about $2.1 billion as of April 30, making it one of the fastest-growing stablecoins globally, Reuters reported, adding that “however, the identities of its main holders remain unclear.”
Vekhov said World Liberty is now also doing business with Sun. Sun attended a crypto conference in Dubai on May 1 alongside Vekhov and Eric Trump.
Golf Properties and Saudi Arabia
Brian, Wertheimer, and others said it remains unclear how much Trump has earned from various sources because his White House financial disclosure forms won’t be filed with the Office of Government Ethics until mid-May.
According to CREW, during his first term, foreign governments spent millions of dollars at Trump’s hotels and golf courses, with his businesses earning up to $160 million from foreign sources.
Rick Claypool of Public Citizen asked: “But at least in that case, you stayed in a hotel room. When you invest $5 million into one of these Trump meme coins, what’s the value beyond putting money directly into the president’s pocket?”
Trump sold his Washington hotel. But he still profits from foreign spending at his golf properties. Saudi Arabia’s LIV Golf Tour has held seven events at Trump courses, even as Trump pressures the more established PGA Tour to merge with LIV—a move favorable to Saudi interests.
The PGA Tour rejected LIV’s latest multibillion-dollar offer in early April.
“But I hope we’ll bring the two tours together,” Trump told reporters aboard Air Force One. “You’ve got the PGA Tour and the LIV Tour. I think merging them would be a good thing.”
Despite Truth Social reporting losses, Trump’s stake in the platform has skyrocketed in value during his presidency. On April 2, the company filed documents with securities regulators allowing Trump’s trust to sell about $2.3 billion worth of stock.
“Pay-to-Play Presidency” Sparks Outrage
Last month, during the White House Correspondents’ Association dinner, Donald Trump Jr. co-hosted a launch party for his private club, The Executive Branch, with membership fees exceeding $500,000.
Politico, citing sources familiar with the project, said its goal is “to cater to business and tech titans seeking to cultivate relationships with the Trump administration.”
On April 30, Senator Chris Murphy displayed large charts in the Senate condemning “100 days of corruption” under Trump, calling the TRUMP coin “the biggest scandal in U.S. presidential history.”
As the mid-May financial disclosure deadline approaches, controversy surrounding the president’s business interests will continue to grow. The White House insists all actions are legal, but watchdog groups emphasize that Trump has broken the historical norm that “presidents do not make policy for personal profit.”
“Trump has made it clear he intends to maximize profit from the presidency,” said Danielle Brian, president of Project On Government Oversight. “And he’s not hiding it.”
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