Trump Family Deepens Ties to Controversial Crypto Token
President’s Sons Reverse Course, Aligning with Token Amidst Foreign Funding Concerns
The family of Donald Trump is now openly embracing a cryptocurrency token bearing his name, reversing previous denials of involvement. This move raises questions about potential foreign influence and the blurring lines between the presidency and personal profit.
Shifting Stances on the TRUMP Token
Just days after claiming no affiliation with the Official Trump [TRUMP]
memecoin, Eric Trump announced a formal partnership between the token and WLFi, the family’s broader crypto venture. This represents a significant shift in messaging, as the Trump sons initially characterized the token as an unwanted creation.
President Trump has a long history of leveraging his name for commercial gain, from branding deals for bottled water to real estate ventures. Now, cryptocurrency presents a potentially more lucrative opportunity, particularly during his second term in office.
Access for Sale: Foreign Investment and Gala Dinners
The TRUMP token launched prior to the President’s inauguration, fueled by speculation and his public profile. While the price experienced volatility, the family reportedly profited from transaction fees. However, the real concern lies in the potential for foreign actors to gain access and influence.
A recent promotion offered access to a gala dinner at Trump National Golf Club in Virginia to the top 220 token holders, with VIP access to the President reserved for the top 25. This event was not presented as a campaign fundraiser, but rather as a business opportunity tied to TRUMP token holdings.
Investigative reporting revealed that nearly half of the top 220 buyers utilized crypto exchanges that block U.S. users, suggesting a significant influx of foreign investment. Nineteen of the top 25 attendees fell into the same category. Among them was Justin Sun, a Chinese crypto billionaire facing fraud charges from the SEC.
According to the U.S. Department of Justice, cryptocurrency-related fraud schemes resulted in over $4.1 billion in losses in 2024, highlighting the risks associated with unregulated digital assets. (Source: U.S. Department of Justice)
SEC Scrutiny and Shifting Priorities
Sun reportedly spent over $20 million on TRUMP tokens, securing prime access at the gala dinner. Notably, shortly after the event, the SEC moved to pause its lawsuit against him. This timing has raised eyebrows and fueled concerns about potential conflicts of interest.
“There is a lot of sense in crypto.”
—Donald Trump, President of the United States
President Trump’s previous dismissal of cryptocurrency as “based on thin air”
stands in stark contrast to his current embrace of the technology. His administration has also taken steps to dismantle the Justice Department’s crypto fraud unit, signaling a shift in regulatory priorities.
A Pattern of Monetization
The Trump family has consistently prioritized branding over substantive business development. This approach extends to their crypto ventures, with the launch of WLFi as a central component of their financial strategy. Following his election victory, Justin Sun acquired $75 million worth of WLFi tokens and became an advisor.
On May 1st, Eric Trump and Zach Witkoff announced a $2 billion investment via a WLFi-issued stablecoin, backed by the Abu Dhabi government. The potential profits from this deal are substantial. The recent reversal by Eric Trump, officially linking the memecoin to WLFi, underscores the high stakes and financial incentives at play.
