Due to cryptocurrencies, the Trump family's affluence has substantially increased.
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The Trump family's riches have witnessed a phenomenal ascent, according to reports. The American group State Democracy Defenders Action claims that the family's net worth has skyrocketed by an astounding 2.7 billion euros in just six months, mainly due to an impressive portfolio in digital currencies.
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Cryptocurrency investments have reportedly been a massive part of this wealth surge. According to CBS News, these digital currencies account for around 40% of the Trump family's overall wealth, amounting to approximately 2.9 billion dollars.
This sudden surge is attributed to the issuance of the cryptocurrencies $Trump and $Melania, as well as a substantial stake in World Liberty Financial, a cryptocurrency exchange platform launched in October 2024 and owned by 60% by entities connected to the Trump family. The family's wealth is expected to continue growing, with a fund based in Abu Dhabi, MGX, reportedly preparing to invest a staggering 1.8 billion euros in a stablecoin, a cryptocurrency meant to maintain a stable value, of World Liberty Financial.
The New Gold Rush: The World of Cryptocurrencies
World Liberty Financial told CBS News that this investment deal marks the largest investment ever made in a cryptocurrency company and sets a major precedent. Donald Trump, who had once dismissed cryptocurrencies as a "fraud," has now become actively supportive of them, aiming to establish the United States as the "world's crypto capital."
Since his re-election, the President has taken various steps to support the sector. One significant move was suspending investigations into a dozen cryptocurrency companies by the Securities and Exchange Commission, the American financial markets watchdog, since his inauguration, according to sources.
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Digging Deeper
- Digital Currencies
- Donald Trump
- Wealth Expansion
As the Trump family's wealth grows through their crypto ventures, critics have raised concerns about potential conflicts of interest and transparency issues. Writing about the U.S. President's investments in cryptocurrency could create perceptions of an attempt to sway U.S. policy. Moreover, the administration's regulatory role over cryptocurrencies, while the President benefits financially, raises serious transparency questions.
- The Trump family's wealth has seen a remarkable increase, with digital currencies constituting about 40% of it, amounting to nearly 3 billion dollars.
- Donald Trump, who once dismissed cryptocurrencies as a "fraud," has since become an advocate, aiming to establish the United States as the "world's crypto capital."
- The family's wealth is expected to continue growing, with a fund planning to invest nearly 2 billion euros in a stablecoin, a cryptocurrency meant to maintain a stable value.
- Trump's investments in cryptocurrency, and the administration's regulatory role over them, while the President benefits financially, raises serious transparency questions.
