President Donald Trump remotely rang the opening bells for the New York Stock Exchange and Nasdaq from the Oval Office on Monday, promoting the launch of the Trump Account. This initiative aims to provide newborns with $1,000 in savings, funded by federal money and private donations.
However, this philanthropic image contrasts sharply with Trump’s ongoing cryptocurrency activities, which have had a tumultuous year. Notably, while he once labeled Bitcoin a “scam” back in 2021, he has reportedly made over $1.4 billion from his family’s crypto business, which has left many small investors in dire straits.
Fatime Elrgdawy, a 29-year-old software project engineer from California, shared her experience with the $TRUMP Coin, noting that she lost over $1,000 in just one investment. Initially excited, she watched her $2,000 investment plummet to below $120 within five months. Yet, she considers herself lucky compared to other $TRUMP investors who faced even greater losses, as the coin has dropped 97% since its peak in January 2025.
The Trump family ventured into the cryptocurrency realm more seriously in late 2024 through the establishment of World Liberty Financial, coinciding with Trump’s third presidential campaign. During this period, Trump had actively engaged with crypto influencers, promising to advocate for a national Bitcoin reserve. This move attracted significant support from industry leaders as Bitcoin hit new heights in 2025.
Some Trump supporters anticipated this wave of profit when the cryptocurrency surged, while the Trump administration stepped back from stringent regulations, effectively allowing for a more laissez-faire environment, despite instances of fraud in the sector.
Interestingly, mere days before Trump’s inauguration, a company linked to an Abu Dhabi royal family covertly acquired nearly half of World Liberty Financial, funneling $187 million into Trump-affiliated entities. This raised questions, particularly given the stated mission of World Liberty to “democratize the new financial system.” The optics of a foreign entity investing in a U.S. president’s family business were not lost on observers.
In a simultaneous event, Trump announced a meme coin featuring a victorious fist pump image, which reportedly earned him around $636 million last year. Meanwhile, around two-thirds of those buying Trump meme coins faced significant financial losses, with total reported losses reaching approximately $3.81 billion.
The sharp discrepancies between the fortunes of Trump and those of small investors are raising eyebrows. While many individuals lost substantial sums, the financial elites backing Trump appeared to do quite well. There are also narratives connecting the UAE’s favorable trade agreements with the Trump family’s crypto dealings, given the timing of the investments and approvals for high-tech imports from the U.S.
When questioned about potential conflicts of interest, the Trump administration has maintained that there are no issues regarding his business engagements. Trump himself has expressed a degree of ignorance regarding the specifics of his crypto assets, claiming there’s been nothing illegal or inappropriate.
As the crypto market grapples with a downturn, the prices of the Trump meme coin and other tokens have taken a hit. Despite market fluctuations, the financial disclosures suggest the trend remains favorable for the Trump brand within the volatile world of cryptocurrency.
