- Trump’s crypto holdings reach $2.9B, making up nearly 40% of his net worth.
- WLFI’s USD1 stablecoin faces transparency concerns, with ties to Trump administration officials.
- Memecoins $TRUMP and $MELANIA launch on Solana, fueling speculation over political crypto investments.
A new report by the State Democracy Defenders Action reveals that Donald Trump’s net worth grew exponentially during his first three months as President. The document titled “Trump’s Crypto Conflicts of Interest” reveals that around 40% of Trump’s net worth is now made up of digital assets.
Based on a publication by Fortune, Trump’s total net worth is estimated at approximately $7.7 billion, with around $2.9 billion held in digital assets. If these figures are accurate, cryptocurrency accounts for 37% of the President’s wealth.
The report states that Sun initially purchased $30 million of $WLFI in December—weeks after the Republican Presidential election victory. That investment allegedly helped DT Marks DEFI LLC—a company financially tied to Trump—secure 75% of net protocol revenues, as Sun’s funds helped meet an essential operating reserve threshold required before revenue distribution could begin.
The State Democracy Defenders Action also states that Sun later expanded his $WLFI stake with a $45 million buy as he officially joined the DeFi firm as an advisor.
Trump’s expanding digital portfolio is also linked to the launch of “Presidential” memecoins—$TRUMP and $MELANIA—on Solana, adding another layer to the growing conversation around political figures and cryptocurrency investments.
WLFI’s USD1 Stablecoin Raises Transparency Concerns
The State Democracy Defenders Action report also highlights concerns surrounding WLFI’s USD1 stablecoin, launched shortly after Trump’s January 23 Executive Order promoting digital currencies.
WLFI claims that the stablecoin is backed by U.S. treasuries, dollar deposits, and other cash equivalents. However, the report raises questions about a potential lack of GAAP-compliant audits and an undisclosed third-party accounting firm.
The report also highlights that BitGo Inc. —USD1’s designated custodian— has ties to the Trump administration. David Sacks, the White House’s first “Crypto Czar”, allegedly retains a 2.468% stake in BitGo.
A March 5 waiver from the White House Counsel allowed Sacks to keep his stake, a decision the report flags as problematic given his direct financial benefit from USD1’s operations.
Beyond Sacks, the report also identifies Trump’s Middle East Envoy, Steven Witkoff, as a co-founder of WLFI, along with two of Trump’s sons, though the extent of their investment remains unclear.
While the document clearly shows signs of political conflict with the Republican administration, the report suggests that WLFI’s financial structure could blur the lines between private investments and political influence. Overall, the presence of high-ranking Trump officials and close associates in WLFI’s leadership and financial operations raises concerns about whether regulatory oversight is being compromised.
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