Trump Family Crypto Empire Earned Over $1 Billion, FT Says
US President Donald Trump and his family earned more than $1 billion in pre-tax profits from their cryptocurrency ventures over the past year, the Financial Times reported. That $1 billion reflects only realized profits, indicating that after gains on their crypto holdings from rising prices are factored in, the family likely earned much more, the FT’s story indicated. Most of the profits came from the DeFi platform World Liberty Financial and its USD1 stablecoin, the American Bitcoin mining firm, and sale of the TRUMP and MELANIA meme coins, the FT said. The TRUMP and MELANIA meme coins generated around $427 million in revenue, while WLFI token sales brought in about $550 million, the FT said. It added that World Liberty Financial’s USD1 stablecoin has generated $2.71 billion. When the Financial Times approached Eric Trump, one of the President’s sons, to ask whether the $1 billion calculation in pre-tax profits was correct, he said that the true figure was ...