Cryptocurrency Boost - Trump Family Assets Increased by $2.9 Billion in Six Months

A recent report from the nonpartisan organization "National Democracy Defenders Action" (SDDA) shows that thanks to cryptocurrency business, the Trump family's assets surged by approximately $2.9 billion in six months.

According to CBS News, the asset growth primarily comes from two cryptocurrencies issued by Trump, $TRUMP and $MELANIA. A prior investigation by Reuters found that behind-the-scenes trading of $TRUMP had made a profit of $100 million in just two weeks. As the Republican presidential candidate, Trump promoted the establishment of the cryptocurrency exchange "World Freedom Finance" last October, in which his family holds a 60% stake.

The exchange recently secured a $2 billion stablecoin investment "USD1" from the Abu Dhabi sovereign fund MGX, which will be used to inject capital into the world's largest exchange, Binance. World Liberty referred to this as "the largest single investment in cryptocurrency history," but the U.S. Securities and Exchange Commission (SEC) has paused investigations into more than a dozen cryptocurrency companies since Trump took office, sparking controversy.

SDDA's chief legal advisor Virginia Kantor pointed out: "Trump is clearly using his public office for personal gain. Modern presidents typically transfer assets into a 'blind trust', but Trump did not adhere to this practice during his first term and is now fully engaged in the cryptocurrency industry."

Due to the fact that cryptocurrency companies are not required to disclose investor information, the identities of investors in products related to the Trump family remain a mystery. Congressional Republicans oppose Trump's policy of promoting the U.S. as the "world's cryptocurrency capital." Last month, Senator Elizabeth Warren and four other Democratic senators jointly wrote to the Federal Reserve and the Office of the Comptroller of the Currency, warning that the president's involvement in this plan "would undermine the independence of financial regulation, creating unprecedented conflicts of interest."

According to the Government Ethics Act, Trump must declare assets, including cryptocurrencies, by May 15. It is worth noting that the presidential position exempts him from criminal conflict of interest provisions. $BTC #BTC