Trump’s crypto ventures valued at $2.9B after executive order

A report released on April 23 by the State Democracy Defenders Fund estimates that former President Donald Trump's cryptocurrency holdings have added approximately $2.9 billion to his net worth over six months.

The report highlights that Trump’s crypto assets, including the meme coin TRUMP (CRYPTO:TRUMP) and the USD1 (CRYPTO:USD1) stablecoin launched in March, now represent nearly 40% of his total net worth of $7.7 billion.

Trump’s family-linked entity holds a 60% stake in World Liberty Financial Inc., the company behind the USD1 stablecoin, which is backed by U.S. Treasuries and cash equivalents.

According to the report, Trump's January executive order encouraged the development of private-sector stablecoins while pausing plans for a federal digital currency.

This policy shift coincided with WLFI’s launch of the USD1 stablecoin.

The report also claims that the Department of Justice relaxed enforcement on digital asset cases, focusing only on those related to terrorism or cartels.

The authors of the report argue that Trump’s promotion of his crypto ventures, including social media endorsements of the TRUMP coin, raises concerns about potential conflicts of interest.

They note that his assets are held in a trust managed by his sons rather than a traditional blind trust used by previous presidents.

Additional concerns are raised regarding the Foreign Emoluments Clause, as WLFI markets USD1 to foreign governments and sovereign wealth funds.

The report calls on Congress to close regulatory loopholes that allow elected officials to benefit from policies affecting their holdings.

Congress is currently considering the GENIUS Act to regulate stablecoins, but it does not include provisions preventing elected officials from owning such assets.

The group behind the report is funded by liberal donors, including George Soros’s Open Society Policy Center and the Sixteen Thirty Fund.