Donald Trump's second term has brought new ways for people to support him financially. These methods are digital and more accessible than before. Trump's business empire has grown into the online world. This includes a social media platform, a cryptocurrency, and a decentralized finance protocol. These ventures allow people to direct money to Trump's businesses easily. For instance, a Chinese entrepreneur invested $30 million in World Liberty Financial. This helped the venture take off and brought in $400 million for Trump and his family. This is a significant amount compared to the $5. 4 million a Chinese state-owned bank took about four years to route to Trump via its Trump Tower lease. The White House Press Secretary, Karoline Leavitt, stated that Trump is compliant with all conflict-of-interest rules. She also mentioned that he only acts in the best interests of the American public. This claim is debatable, given the new financial opportunities that have arisen.

Trump Media & Technology Group is the parent company of the Truth Social platform. It went public in March 2024 through a merger with a blank check company. Trump owns 115 million shares, about 52% of the company. These shares are worth $2. 9 billion. Buying shares directly from the company or through open-market purchases can inject large sums of cash into Trump's businesses. Advertising on Truth Social or Truth+ also enriches the president. However, it seems that not many big companies are taking advantage of this channel. Trump Media reported just $821, 000 in net sales for the first quarter. The ad inventory is currently dominated by MAGA retailers, conspiratorial pitches, and promotions for Truth+ itself. It is clear that Trump's ventures into social media and cryptocurrency have transformed his post-presidency finances. He more than doubled his fortune in one year, largely due to Trump Media and digital assets. These new vehicles operate in sectors with minimal regulation. This enables flows of money that are faster and harder to trace than traditional real estate deals.

The $TRUMP meme coin is a cryptocurrency with no intrinsic value. It is typically based on internet jokes and hype. Trump launched his meme coin three days before taking office. He encouraged his 100 million followers on social media to join his "very special Trump Community" and "celebrate everything we stand for: WINNING! " The coin quickly reached a $15 billion market cap, though it has since dropped to around $2. 8 billion. CIC Digital, a Trump Organization partner behind the meme coin, retained ownership of 80% of the coins. Rising demand boosts the value of their holdings. The companies also collect a transaction fee of 0. 1% to 10% of each trade. This arrangement generated almost $100 million in the first two weeks. The companies launched a contest promising a black-tie-optional dinner with Trump at his D. C. -area golf club for the top 220 holders. This announcement spiked the coin's price by 70%, though it has since settled to around $14. More than 70% of the largest holders appear to be based outside the United States, according to crypto researcher Molly White. This raises questions about the source of the funds and the potential influence of foreign entities.

World Liberty Financial is a decentralized finance platform. Trump serves as the chief crypto advocate and "inspiration" for this platform. The protocol functions as a banking system on the blockchain. It enables peer-to-peer lending, fundraising, and trading digital assets. Holders of its $WLFI token can propose and vote on rule changes. The company earns revenue through sales of its token and other products. Trump and his family own about 60% of the company through an LLC. They hold 22. 5 billion $WLFI tokens. The LLC is entitled to 75% of the proceeds from token sales, less some deductions. In March, World Liberty Financial claimed it had sold $550 million worth of $WLFI. This should have translated to about $400 million in profit for Trump and his family. Stablecoins typically make money for their issuers by working similarly to a bank. The buyer makes a deposit, the issuer gives them coins, and then it invests the deposit, keeping whatever profits it generates. Last week, an investment fund backed by the Abu Dhabi government announced it would use USD1 to make a $2 billion investment in the crypto exchange Binance. This is not affiliated with Trump. This raises questions about the potential influence of foreign governments and the ethical implications of such investments.

The identities of those funneling money to the president through his businesses are unlikely to ever be fully known. This lack of transparency raises concerns about the potential for corruption and conflicts of interest. The courts never ruled during Trump's term whether a foreign government paying the president through one of his businesses violated the Constitution's emoluments clause. This clause prohibits government officials from accepting "any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State" without the consent of Congress. The courts never even settled who had standing to sue. This lack of clarity and accountability is a significant issue that needs to be addressed. The Founders would likely be alarmed by the advent of cryptocurrency and its potential for abuse. Ethereum founder Vitalik Buterin has said that cryptocurrencies issued by politicians are "a perfect bribery vehicle. " They afford a degree of deniability that undermines any hope for criminal accountability. This is a critical issue that needs to be addressed to ensure the integrity of our political system.

Trump's New Cash Flow: Digital Deals and Crypto

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