A nonprofit organization says President Donald Trump has significantly increased his net worth in a short time after venturing into the world of crypto assets.
According to a new study conducted by State Democracy Defenders Action, a nonprofit group dedicated to ending autocracy in the US, Trump has not only increased his wealth through crypto but has set himself up to earn more profits in the future.
The study further says that Trump’s position of power has allowed him to loosen regulatory policies on tokens associated with his decentralized finance (DeFi) platform World Liberty Financial (WLFI), which was founded in September 2024.
“President Trump’s recent foray into crypto assets has allowed him to substantially increase his wealth in a relatively short period of time. Trump will likely profit more from them in the future now that one of the companies he is affiliated with has added a new stablecoin to its portfolio.
Unlike other executive branch employees, he is not subject to the primary criminal conflict of interest law, which has allowed him to adopt regulatory policies that favor private sector stablecoins like those offered by WLFI.”
Citing Fortune, the study finds that Trump’s $2.9 billion worth of cryptocurrencies comprise 37% of his total assets, which amount to $7.7 billion. The study concludes by noting that Congress has the power to stop Trump from profiting from digital assets.
“The regulation of digital assets is in its nascency, but rather than divest his crypto assets to avoid any possible conflict of interest, President Trump seems to have positioned himself to maximize profiting from them by adopting a less aggressive regulatory and enforcement program than his predecessor.
Congress has a unique opportunity to prevent President Trump and future presidents from using their public office for private gain by adopting legislation barring them and other elected officials from holding stablecoins and other digital assets.”
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