Donald Trump has embraced his unofficial title as the “ crypto president ”, utilizing it in ways that may benefit the cryptocurrency industry while also potentially enriching himself and his family.
Initially a critic of cryptocurrencies, Trump has completely changed his stance, endorsing digital currencies in a manner unmatched by any other elected leader. He has committed to implementing crypto-friendly policies and aims to position the U.S. as “the world capital” of digital assets.
Trump has also linked his name to a crypto token and various crypto-related products. The cryptocurrency sector, which invested heavily to support Trump in the previous election, has shown mixed sentiments regarding some of his crypto initiatives.
Critics have raised concerns that these ventures could be exploited by individuals looking to leverage Trump’s influence. Trump has placed his investments and assets into a trust overseen by his children and has committed not to involve himself in the management of his businesses while serving as president.
Here’s a numerical overview of Trump’s connections to the crypto world:
$100,000
This is the price for a new “Crypto President Tourbillon” watch available from the Trump-themed online watch store, which pays a licensing fee to use the Trump name. Trump has a history of intertwining his political and business ventures, having first promoted Trump watches in September of last year. The online store has recently introduced crypto-themed watches at various price points.
The gettrumpwatches.com site states that only 10 “Crypto President Tourbillon” watches will be produced, with payments only accepted in bitcoin. For their $100,000, customers receive a watch adorned with 229 “bitcoin orange sapphires” along with a signed letter of authenticity from Trump.
“The Crypto President Tourbillon isn’t merely a watch—it’s a statement. Of wealth. Of power. Of vision,” the website proclaims.
$11 billion
This figure represents the approximate market cap that has been lost for the president’s meme coin since it peaked at around $15 billion on January 19, just two days after its launch and one day before Trump’s inauguration.
Some within the crypto community praised the launch of Trump’s meme coin, soon followed by First Lady Melania Trump’s meme coin, interpreting it as a sign of his enthusiasm and dedication to digital currencies.
Others criticized it, arguing that it harms the crypto industry’s reputation at a critical time when it’s working to achieve wider acceptance. Meme coins often start as jokes, lacking real value, yet experience drastic price changes based on public interest.
$299
This is the price for a pair of new crypto-themed sneakers offered by another website that pays a licensing fee to sell Trump-themed merchandise, which the president has endorsed. The low-top orange shoes will begin shipping in April, with only 400 pairs planned for production.
$75 million
This amount has been stated by Chinese crypto entrepreneur Justin Sun regarding his company’s investment in World Liberty Financial, a decentralized finance cryptocurrency platform launched last year with the help of Trump and his sons. Sun is the founder of the decentralized blockchain platform TRON and gained notoriety for his recent purchase of a banana for $6.2 million.
In 2023, Sun and his companies were sued by the SEC for allegedly manipulating the price of TRON, and they’re also under scrutiny for facilitating transactions linked to organizations labeled as terrorist groups. On Inauguration Day, World Liberty Financial announced its acquisition of $4.7 million worth of TRON’s token, TRX.
$250 million
This is the amount that the parent company of Trump’s Truth Social has indicated it will invest in new investment products and decentralized finance services, which may include purchasing bitcoin and other cryptocurrencies.
Truth Social has recently applied for trademarks for “Truth.fi Bitcoin Plus ETF” and “Truth.fi Bitcoin Plus SMA,” suggesting plans to launch crypto-based exchange traded funds and separately managed accounts.
Despite facing modest revenues and considerable losses, Trump’s supporters have played a role in boosting the stock price of Trump Media & Technology Group and raising funding since its public offering last year. The parent company disclosed last month that its potential entrance into the crypto space is part of efforts to diversify its $700 million cash reserves.
TMTG claims that Trump plays no decision-making role in the company, though he is its largest shareholder, holding a 53% interest, which is now valued at over $3 billion according to the latest quarterly report.
