The family of current US President Donald Trump has earned more than $ 1 billion from cryptocurrency-related projects. This was reported by the Financial Times, citing the results of its own investigation. According to the politician’s son, Eric Trump, the family’s real income may be «significantly higher» than officially declared.
The main source of income was the DeFi project World Liberty Financial (WLFI), launched by Trump’s sons. The platform’s official website lists the current president as an honorary co-founder. During two rounds of token sales, WLFI raised $ 590 million in investments. In June, it became known that Donald Trump received more than $ 57 million from the sale of WLFI tokens, and his family’s total stake in the project reached $ 5 billion. Since the beginning of the year alone, the platform has brought the Trumps approximately $ 550 million in profit.
The family received additional income from the TRUMP and MELANIA meme coins, which together brought in $ 427 million. At the same time, both tokens fell by more than 90% from their historical highs. Another $ 42 million in profit was generated by the USD1 stablecoin issued by the WLFI project. Its market capitalization exceeded $ 2.7 billion, making it the fifth largest asset among stablecoins.
Donald Trump’s personal stake in Trump Media & Technology Group, which owns Truth Social, is estimated at $ 1.9 billion. The company is actively investing in digital assets and has applied to create an ETF based on leading cryptocurrencies.
In addition, the Financial Times reports that on October 15, the US approved the creation of the Erebor crypto bank, which may be associated with Trump’s entourage. Among its founders is billionaire Peter Thiel. The new bank plans to specialize in operations with stablecoins.