Donald Trump, who plunged into the crypto sector even before taking office as U.S. President, did not become a remedy for the industry but certainly added wealth to his family in the time since.
Donald Trump, who pitches himself as crypto-friendly and has promised to make the U.S. the cryptocurrency capital, has positioned himself at the center of crypto since his inauguration. While investors are struggling, Trump is significantly increasing his fortune.
Donald Trump Profiting for Himself
According to information provided by the Financial Times, the Trump family’s total revenue generated from the cryptocurrency market has exceeded $1 billion to date. Eric Trump, a representative of the family, confirmed this figure. Given that the Trump family’s total assets are known to be around $7$ billion, this revenue accounts for nearly $15\%$ of their wealth.
The WLFI cryptocurrency, launched by the Trump family in recent weeks, is reportedly generating $550 million in revenue. Furthermore, there are additional revenues from Trump and Melania cryptocurrencies, NFT cards, and Bitcoin mining. It is also stated that wallets estimated to belong to the Trump family have earned over $100 million from leveraged trading on decentralized exchanges.
However, the eagerly anticipated crypto bull run expected during the Trump era remains a dream. While Bitcoin and Ethereum achieved significant gains during this period, other major currencies stagnated or declined. Notably, reports indicate that some individuals who lost their entire assets in the major crash last week committed suicide.
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