My people! Get ready for this hot gossip coming straight from the world of cash and cryptocurrencies! It seems that Donald Trump, that character who needs no introduction, is seeing his personal fortune rise like foam thanks to the crypto universe! 📈 How so? Keep reading and I'll tell you the details!
It's said that the former president himself, with a fortune now estimated at over 6 billion dollars, has pocketed an additional 620 million dollars in just a few months! And all of this, folks, thanks to his moves in the digital world! 🤯
A report from Bloomberg, which is from those who know about this money stuff, dropped the bomb: for the first time, Trump's investments in cryptocurrencies represent "a considerable portion" of his wealth. And where does all this digital money come from? Mainly from two sources: his family business, World Liberty Financial, which is involved in the crypto scene, and his own memecoin, the famous Official Trump (TRUMP). Just like that! The man has his own digital currency and it seems to be bringing him good profits. 🤑
Although most of his money is still in his media company (Trump Media and Technology Group) and in real estate, crypto companies already represent about 9% of his wealth in June! That's a lot of cash, my people!
Let's break down this stew of numbers so you can understand better:
World Liberty Financial: It seems that Trump and his three sons pocketed about 390 million dollars with the sale of tokens from this company. And not only that! Together, they hold more than 2 billion dollars in governance tokens (WLF) from the company. That's crazy! Additionally, it is rumored that the company earned another 100 million dollars from a big deal in which they used the stablecoin USD1 from the platform to settle an investment in Binance. Money goes, money comes!
His memecoin (TRUMP): This little digital coin, which has already stirred up some talk because Trump even announced a VIP dinner for those who held the most tokens, has generated a profit of about 150 million dollars for the magnate! Of course, you have to be alert because millions of these tokens will be gradually unlocked over the next three years, and it's uncertain whether Trump will have the right to more tokens.
But it doesn’t stop there! Two of Trump’s sons, Donald Jr. and Eric, own 20% of American Bitcoin, which is a subsidiary of a cryptocurrency mining company called Hut 8. This company has already raised 220 million dollars for equipment and investments in Bitcoin, and even plans to go public! This family is deep into the crypto world!
All this movement has gotten more than one person thinking. Many Democratic legislators in Congress are already asking for clear rules so that no president, vice president, congressperson, or their families can promote or own digital assets. They want to avoid conflicts of interest, obviously! But since the Democrats are in the minority, the laws haven't passed. However, they don't tire of bringing up the topic, and even Senator Jeff Merkley has proposed an amendment to tackle conflicts of interest with Trump's crypto companies.
So, stay tuned! This is just the beginning. Will Trump's moves with cryptocurrencies change the political game? Only time will tell, but the man is definitely making money! 💰🤔$BTC $TRUMP $PEPE
