section_path: Ethics/Cryptocurrency ventures
section_name: Cryptocurrency ventures
paragraph_text: Cryptocurrency ventures
  
  Trump and his family involvement in the cryptocurrency industry have given rise to ethical and legal concerns.
  
  On January 17, 2025, Trump launched, promoted, and personally benefited from a cryptocurrency memecoin, $Trump, that soared to a market valuation of over $5 billion within a few hours—a total $27 billion diluted value—through a Trump-owned company called CIC Digital LLC, which owned 80 percent of the coin's supply. Within two days, the $Trump coin became the 19th most valuable form of cryptocurrency in the world, with a total trading value of nearly $13 billion, and a total of $29 billion worth of trades based on a $64 value of each of the 200 million tokens issued by the afternoon of January 19. The New York Times reported that Trump affiliates controlled an additional 800 million tokens that, hypothetically, could be worth over $51 billion, potentially making Trump one of the richest people in the world. Trump also launched a new meme coin named after his wife, $Melania, and promoted it on Truth Social shortly before attending an inauguration rally. The crypto venture was criticized by ethics experts and government watchdogs. The venture and the possibility of foreign governments buying the coin was highlighted as possibly violating the Constitution's foreign emoluments clause. He promoted exclusive access to him for the largest holders of $Trump, including hosting a dinner, which according to The New York Times, certain buyers in interviews and statements said they "bought the coins or entered the dinner contest with the intention of securing an action by Mr. Trump to affect United States policy".
  
  He directly benefited from his cryptocurrency company World Liberty Financial which engaged in an unprecedented mixing of private enterprise and government policy. It directly solicited access to Trump with secret payments and currency swaps from foreign investors, companies, and individuals with criminal records and investigations. At least one investigation was dropped after payment worth several million was made to the firm, and Trump granted an official pardon to an investor of a company World Liberty had invested in. Trump's family received a cut of all transactions made through the World Liberty, and the company directly advertised its connections to Trump, who disclosed income of nearly US$60 million in an ethics filing. Several actions taken by Trump's administration regarding cryptocurrency were noted to bolster the company's assets and position. A spokeswoman for Trump stated that since his assets were in a trust managed by his children, there were "no conflicts of interest". On May 12, 2025, another family bitcoin company co-founded by Eric Trump in March, American Bitcoin, announced plans to go public by merging with an existing Nasdaq company.