In a move that is shaking up the financial and tech world, US President Donald Trump's family is making a large-scale "landing" in most areas of the cryptocurrency world.

From flashy NFT collectibles, ambitious decentralized finance (DeFi) projects, plans to launch their own stablecoin, the controversial memecoin craze, to embarking on large-scale bitcoin mining - the Trump family seems to be making a deep mark on this fertile but also volatile digital land.

Estimates based on publicly available data from Bloomberg suggest that the total paper value of these projects is approaching the $1 billion mark, a staggering figure despite the recent market correction. What is driving this powerful family to venture so aggressively into a sector that Mr. Trump himself once called a “scam”?

From harsh criticism to "warm hug"

No one can forget the early days when Donald Trump, the president considered the richest in American history, harshly criticized bitcoin and the cryptocurrency world.

He has called bitcoin a “fraud,” a “competitor to the dollar,” and has called for “very, very strong” regulation, a tough stance that reflects traditional political skepticism about an emerging, decentralized, and difficult-to-control asset class.

However, the picture has changed dramatically in recent years, especially since the second-term campaign. Facing a fierce race and recognizing the growing influence of the crypto community, Mr. Trump has made impressive "u-turns." He began openly accepting crypto donations for his campaign, attended industry events, and received enthusiastic support from many prominent leaders in the field.

As he returns to the political stage, his promises of a crypto-friendly America have become even more apparent. Sources say he has signed, or pledged to sign, executive orders aimed at making the U.S. a global crypto hub. The appointment of industry-friendly figures like venture capitalist David Sacks and politician Bo Hines as potential representatives or advisers has further reinforced this message.

Cornell University professor Eswar Prasad, an expert on global trade and economic policy, offered an insightful observation: "The Trump family appears to be trying to establish a broad and solid foothold in the cryptocurrency industry before new, potentially clearer and stricter regulations are enacted. This move could send crypto asset values ​​soaring."

This could be a double gamble: taking advantage of lucrative business opportunities while also strengthening the image of a modern leader who supports technological innovation in the eyes of a dynamic segment of voters and investors.

NFT: The First Door into the Crypto World

Late 2022 marked Donald Trump's first official foray into the crypto universe, not with a complex financial project, but with a very personal and marketing move: the "Trump Trading Cards" collection. These are non-fungible tokens (NFTs) - unique digital items - depicting his image in various costumes and poses, from superheroes, astronauts to Western cowboys.

The unique idea is said to have come from Bill Zanker, a longtime friend of Mr. Trump and founder of The Learning Annex, a famous company in the field of education and seminars. The NFT collection quickly became popular, not only because of its novelty but also because of the attraction of the name Donald Trump. To date, 4 collections have been launched, and according to Mr. Trump's personal financial disclosure documents, they have brought in millions of dollars in revenue.

Not only does Trump sell digital cards, he also hosts exclusive dinner parties for those who buy his NFTs in bulk or in special editions. This move shows his savvy in building a community, turning NFT buyers into not only collectors but also loyal supporters, creating a small ecosystem around his personal brand.

Starting with NFTs can be seen as a smart experiment, with less legal and financial risks than DeFi or stablecoin projects, while helping the Trump family get acquainted with the operating mechanism and psychology of the crypto market.

DeFi and stablecoins: Building the foundation for a digital financial empire

If NFTs are a prelude, the announcement of the World Liberty Financial project in September 2024 shows the Trump family's much larger ambition to create its own digital financial ecosystem. World Liberty Financial has declared its goal of developing decentralized financial services (DeFi) - a hot field that allows financial transactions such as lending, borrowing, and trading without the need for traditional banking intermediaries.

Although core services such as crypto lending have yet to officially launch, the project has demonstrated impressive financial strength. World Liberty Financial has reportedly spent millions of dollars to accumulate key platform cryptocurrencies such as Ether (ETH) and Tron (TRX) - popular blockchains for building DeFi applications.

The project’s ownership and profit structure is also noteworthy. Donald Trump reportedly holds a 60% stake through a separate company called DT Marks DeFi LLC. More importantly, the agreement states that he will receive up to 75% of the net profits from the project’s token sales.

As of the end of March, World Liberty had raised a whopping $550 million through two private token sales, a figure that reflects the project’s strong appeal, though much of it may come from the Trump family’s prestige and name rather than the technology or early-stage product itself.

Not only Mr. Trump, his three sons, Donald Jr., Eric and Barron Trump, also actively participated in the project as "Web3 advisors". They regularly use their social media platforms with millions of followers to promote World Liberty Financial, contributing significantly to attracting attention and capital.

Not stopping at DeFi, on March 25, World Liberty Financial continued to surprise when it revealed its plan to issue USD1 - a stablecoin pegged 1:1 to the US dollar. According to the plan, USD1 will operate on popular blockchains such as Ethereum and Binance Smart Chain, and be backed by highly liquid and safe assets such as short-term US Treasury bonds, bank deposits, and other fiat currencies.

The move coincided with the passage of a landmark stablecoin regulation bill by the US House of Representatives, which received rare bipartisan support, including from Trump himself. The coincidence has raised speculation about a strategic calculation to get ahead of regulatory trends and gain a first-mover advantage in the stablecoin sector, which is considered the backbone of much of the crypto world.

Memecoin: Speculative fever and expensive lessons

Along with more fundamental and long-term projects, the Trump family has not overlooked the fertile but risky land of memecoin - a cryptocurrency often created as a joke, inspired by online phenomena, and whose value is mainly based on community hype rather than technological foundation or practical application.

Just before the inauguration in January, Mr. Trump and his wife Melania simultaneously or consecutively launched two memecoins bearing their names. The appearance of coins associated with the names of the most powerful couple in the United States immediately created a fever in the market. Their prices skyrocketed in a short time, attracting the attention of many small investors and the media.

The heat has helped companies associated with the Trump family reap a significant profit. In January alone, it is estimated that at least $11.4 million in transaction fees were generated from the trading of these memecoins. However, true to the speculative and highly volatile nature of memecoins, the "party" did not last long. The memecoin named after Mrs. Melania has seen a spectacular collapse, losing up to 90% of its value compared to its peak.

Notably, according to reports, two companies closely linked to the Trump family, CIC Digital and Fight Fight Fight LLC, are holding up to 80% of the total supply of these memecoins. This huge amount of tokens is said to be "unlocked" and can be gradually sold on the market over the next three years.

Holding a majority of the supply and having a long-term unlocking schedule suggests that, despite its memecoin name, this may still be part of a calculated financial strategy to maximize potential profits rather than just a one-time play. However, the Melania memecoin collapse is also a stark warning about the extreme risks of investing in hype-based assets.

ETFs and Bitcoin Mining: Completing the Diversification Picture

The Trumps’ ambitions extend beyond creating their own token or platform. They also want to get involved in more mainstream investment products and the industry’s core infrastructure.

In February, Trump Media & Technology Group (TMTG) - the parent company of social network Truth Social - announced the trademark registration for a series of investment products associated with the name Donald Trump.

Most notable among them is the plan to launch a bitcoin ETF called Truth.Fi. The spot bitcoin exchange-traded fund (ETF) allows investors to easily access Bitcoin through the traditional stock market, which is seen as a big step in bringing cryptocurrencies closer to the general public.

TMTG is expected to partner with Crypto.com, a large and globally recognized cryptocurrency exchange, to launch the ETF. Notably, the U.S. Securities and Exchange Commission (SEC) had previously issued a Wells notice (intention to sue) to Crypto.com regarding allegations of unregistered securities trading. However, the SEC closed that investigation in March, paving the way for a potential partnership with TMTG.

Not only stopping at financial products, Mr. Trump's family has also entered the field of Bitcoin mining - an activity that uses huge computing power to validate transactions and create new Bitcoins, the security foundation for the network. At the end of March, information about his family's cooperation with Hut 8 Corp., one of the largest and oldest Bitcoin mining companies in North America, to establish a joint venture specializing in mining called American Bitcoin Corp., was announced.

The move comes after Trump held a private meeting with top Bitcoin mining executives at his Mar-a-Lago resort in June 2024, where he reportedly pledged to protect and support the US Bitcoin mining industry if re-elected. The creation of the American Bitcoin Corp. can be seen as a concrete action to realize that commitment, while also demonstrating his desire to control a part of the crypto world's important infrastructure right on US soil.

Trump's sons, Eric Trump and Donald Trump Jr., are going all-in on the cryptocurrency space with the launch of a new bitcoin mining venture called American Bitcoin. The Trump brothers, already well-known real estate investors, are merging their company, American Data Centers, with leading cryptocurrency mining group Hut 8 Mining Corp. to form a new entity.

The Trump family will hold a 20% stake in the company, while the remaining 80% will be controlled by Hut 8. According to The Wall Street Journal, Hut 8 will contribute about 61,000 mining machines from its massive data center system to the deal.

Although many other coins such as ethereum, tether or dogecoin are also gaining attention, bitcoin is still the "gold standard" of the cryptocurrency world - the oldest and most valuable coin, mined through an energy-intensive computational process to decode and create new tokens.

Eric Trump, who serves as chief strategy officer at American Bitcoin, sees it as a “hedge” against the risks of his family’s real estate portfolio. He has even suggested that the company could set up a “bitcoin reserve fund” and take it public in the future.

Donald Trump Jr. called it a “huge opportunity” in a press release, emphasizing the family’s strong belief in bitcoin and the potential for profit if the mining operation is deployed efficiently.

A crypto empire in the making?

Duke University finance professor Campbell Harvey summed up the Trump family's extensive presence: "When you think about investing in crypto, it's no longer just about holding bitcoin. Trump and his family are everywhere, from decentralized lending, stablecoins, different types of crypto assets, to bitcoin mining."

This wide-ranging and multifaceted involvement paints a complex picture. On the one hand, it shows the family’s strategic vision and ability to quickly grasp trends, betting on the long-term growth potential of the crypto industry. On the other hand, it also raises questions about the real motive: Is this a purely business endeavor, or is there also a political calculation to leverage the crypto community’s support and shape future policy in a favorable direction?

A profit of nearly $1 billion on paper is impressive, but the volatile nature of the crypto market means that this value can change rapidly. Furthermore, legal, regulatory, and project-specific risks still lie ahead.

The Trump family’s move has attracted considerable attention, especially as the crypto market has been experiencing significant volatility due to policy and regulatory changes. The strong investment of a powerful family in bitcoin mining could be a boost for the participation of institutional investors – parties that play a key role in validating transactions and ensuring the security of the blockchain system.

For individual investors, the event could be transformative. The launch of a large-scale mining project like American Bitcoin could impact the supply and price volatility of bitcoin, especially since short-term market sentiment is often influenced by media.

From a regulatory perspective, as bitcoin mining becomes more prominent, new environmental and energy consumption regulations may be proposed. The US Environmental Protection Agency (EPA) has announced that it will review the climate impact of coin mining. In terms of investment opportunities, this project may open up new financial products related to bitcoin mining, helping investors diversify their portfolios.

The Trump family’s foray into the world of cryptocurrency will certainly continue to attract intense attention from the financial, tech, and political worlds. Will they succeed in building a sustainable crypto empire, or is this just a risky billion-dollar gamble in a volatile digital age? Only time will tell, but it’s clear that the Trump family has made an indelible mark on the global cryptocurrency map.

Source: https://dantri.com.vn/kinh-doanh/gia-dinh-ong-trump-do-bo-crypto-tham-vong-ty-usd-hay-canh-bac-quyen-luc-20250414113258407.htm