This week, the Trump family has significantly increased its wealth through the successful launch of two major cryptocurrency projects — American Bitcoin and World Liberty Financial.
Launch of World Liberty Financial
The launch of World Liberty Financial in the market contributed about $670 million to the overall net worth calculations of the Trump family. The decentralized finance protocol began trading on key cryptocurrency exchanges, launching billions of tokens at the start. Prices of World Liberty Financial tokens rose initially but then fell dramatically.
IPO of American Bitcoin
American Bitcoin, co-founded by Eric Trump, raised over half a billion dollars in its IPO. The mining corporation is the result of a strategic merger with the publicly traded corporation Gryphon Digital Mining. The company's shares soared to highs of $14 but then fell more than 50% to lows of $6.24 due to high volatility.
Criticism and Financial Analysts
Some Democratic members of parliament have raised concerns about possible conflicts of interest regarding the presidential family's involvement in cryptocurrencies. Critics argue that the digital asset projects may interfere with governmental policy-making processes. However, advocates believe that the Trump family's involvement may bring much-needed legitimacy to American cryptocurrency markets amid restrictive policies.
The Trump family's investments in cryptocurrency open new financial horizons, despite the high volatility of the market and criticism regarding potential conflicts of interest.
