Molly White (@molly0xfff@hachyderm.io)

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There’s of course also the NFTs, the bitcoin branded sneakers, and the Trumps’ personal crypto holdings, which are not well known.

And there’s also the substantial risk of insider trading in crypto, mirroring similar concerns we’ve seen raised recently about insider trading in traditional assets surrounding Trump’s tariff announcements.

#crypto #cryptocurrency #USpolitics #USpol

That’s not to mention the substantial risk of insider trading by those close to Trump, who may have insight into his unpredictable behaviors that have flung the broader economy into turmoil. Concerns about insider trading have arisen as insiders may have bought the dip in traditional equities markets caused by Trump’s “Liberation Day” tariff announcements, earning them profits as subsequent announcements of tariff pauses kicked off a brief rebound. The same behavior could just as likely be happening in the crypto world, too, as bitcoin and other crypto prices follow broader market movements and could be exploited for personal profit with advance knowledge of Trump’s plans.

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Crypto holdings
While the specifics of the Trump family’s crypto holdings remain largely unknown, financial disclosures and blockchain records shed some light. In August 2024, Trump reported holding $1 million to $5 million in ETH,21 which matched with a publicly disclosed Ethereum wallet then holding around $2.28 million worth of the token. Trump later sold sizable portions of those tokens beginning in December 2024.22

The personal crypto holdings of Trump family members who stand to benefit from market movements under Trump have not been publicly disclosed. Some seem keen to experiment with moving markets themselves, with Eric Trump tweeting “In my opinion, it’s a great time to add $ETH. You can thank me later” in February, right around the time World Liberty Financial was moving a substantial amount of ETH to Coinbase [I76].

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While there have been some attempts by Democratic Senators to sound the alarm with various agencies, these agencies are largely under Trump’s control. If there’s been any action on their letters, it hasn’t publicly materialized.

This is a dangerous convergence of the president’s financial interests and his power to shape policy, and it poses serious risks to all of us.

#crypto #cryptocurrency #USpolitics #USpol

The scope of the Trump family’s cryptocurrency conflicts illustrates a degree of corruption that makes the emoluments concerns of Trump’s first term seem quaint by comparison. Through his crypto ventures, Trump has created multiple avenues for personal enrichment: direct profits from cryptocurrency holdings and businesses, regulatory changes that boost his investments, potential insider trading, and opportunities for outside interests to buy favor through crypto “investments” that would be prohibited as campaign contributions. His dismantling of cryptocurrency oversight leaves consumers vulnerable to fraud and manipulation, while ensuring that neither he nor his benefactors will face meaningful scrutiny.

Despite the scale of these conflicts and the clear abuse of power, attempts to check this corruption have been limited and largely ineffective thus far. Democratic Senators have sent letters about both crypto-based and traditional asset-based financial corruption to the SEC Inspector General,23 the SEC,2425 the Deputy Attorney General,26 and state Attorneys General27, pushing for investigations into Trump’s and his administration officials’ conflicts of interest. If there’s been any action on these letters, it hasn’t publicly materialized.

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Instead, the gutting of regulatory oversight has continued, creating a dangerous convergence of the president’s financial interests and his power to shape policy. The ensuing regulatory vacuum will allow cryptocurrency markets to become increasingly susceptible to manipulation and abuse, while providing cover for fraud, money laundering, bribery, and other crimes. The industry under Trump is on course to become even more of a predatory playground where insiders profit from exploitative schemes — high-risk lending programs promising to “democratize wealth”, unchecked bad actors peddling investment scams disguised as business opportunities, and memecoins functioning as thinly-veiled pump-and-dump operations — while ordinary investors are left without protection or recourse. And the degree to which the government has been embracing crypto also poses a risk to those who haven’t gotten involved in crypto trading at all, as regulations limiting things like banks becoming heavily exposed to crypto, or pension and retirement funds incorporating crypto into portfolios, threaten contagion that everyday people could be forced to bear.

I have disclosures for my work and writing pertaining to cryptocurrencies.

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For those who prefer it, don’t forget there’s an audio version of these newsletters! There’s an embedded player in the article, or find it in the Citation Needed audio feed wherever you get your podcasts. 100% real human voice, no text-to-speech. https://pod.link/1719025552

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@molly0xfff Is anyone doing a comprehensive corruption tracker? Haven't they already hauled in several billion dollars? Would be great if there were an eye candy infographic going all the way back to their inheritance.

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@molly0xfff

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