
On August 11, 2025, a new report by Accountable.US revealed that President Donald Trump’s cryptocurrency holdings may be significantly larger than previously estimated, raising concerns about potential conflicts of interest and economic instability.
The investigation, covered by Raw Story, estimates Trump’s net worth at approximately $15.9 billion, with $11.6 billion tied to unreported crypto assets, including 22.5 billion tokens from his World Liberty Financial Inc. and $7 billion in $TRUMP memecoins.
Critics, including Sen. Elizabeth Warren, warn that Trump’s push for deregulation through bills like the GENIUS Act and CLARITY Act could enrich his family while risking a financial crisis reminiscent of 2008.
This development has ignited debates over ethics and market manipulation in the cryptocurrency sector.
The Accountable.US report, released on August 7, 2025, highlights Trump’s “rapidly-growing crypto empire,” noting that his administration has aggressively dismantled cryptocurrency regulations since he took office.
The report estimates that Trump’s crypto holdings account for 73% of his net worth, far exceeding Bloomberg’s July 2025 estimate of $620 million.
Key assets include 22.5 billion tokens from World Liberty Financial Inc., valued at roughly $2 billion but not yet tradable, and $7 billion in $TRUMP memecoins launched in late July 2025.
Additionally, two Trump-affiliated companies reportedly collected over $324 million in fees since January 2025, as detailed by Raw Story.
Trump Media, which owns Truth Social, further bolstered his portfolio by purchasing $2 billion in Bitcoin and reserving $300 million for Bitcoin options, according to the report.
Trump’s legislative efforts, including the GENIUS Act signed into law on July 18, 2025, create a regulatory framework for stablecoins—cryptocurrencies pegged to assets like the U.S. dollar.
However, a 2023 Bank for International Settlements study cited by Rolling Stone found that all 60 stablecoins analyzed had de-pegged at least once, with the 2022 Terra/Luna collapse erasing $45 billion in a week.
Sen. Warren warned that Trump’s dominance in the stablecoin market could enable market manipulation, stating, “The whole game becomes one of trying to engage the president to weigh in and make one set of coins more valuable,” potentially undermining broader markets.
The CLARITY Act, passed by the House and awaiting Senate approval, would reclassify many cryptocurrencies as commodities, shifting oversight from the Securities and Exchange Commission (SEC) to the less-resourced Commodity Futures Trading Commission.
This move, which excludes Trump’s $TRUMP and $MELANIA memecoins from SEC regulation, could directly benefit his ventures, as noted in a June 2025 Trump Media SEC filing warning that classifying Bitcoin as a security could harm its price and Trump’s holdings.
Critics Warn of Economic and Ethical Risks
The report has drawn sharp criticism from experts and lawmakers.
Tony Carrk, executive director of Accountable.US, likened Trump’s crypto push to the “risky behavior” that triggered the 2008 financial collapse, warning that deregulating volatile assets like stablecoins could destabilize the economy.
“Throwing such a wild card into the financial system with little to no guardrails could lead to history repeating itself—with everyday Americans footing the bill,” Carrk said, as quoted by Raw Story.
Sen. Warren echoed this, calling the GENIUS Act a “superhighway for Donald Trump’s corruption” due to his family’s significant crypto stakes.
Public sentiment on X reflects similar concerns, with users like @Jason, a Trump supporter, downgrading the president’s first-month performance to a “D” for prioritizing crypto over issues like healthcare or national debt.
Others, like @MatthewYglesias, criticized Trump’s plan for a U.S. Crypto Reserve including XRP, SOL, ADA, BTC, and ETH, alleging it benefits insiders like crypto adviser David Sacks.
These views, while inconclusive, highlight growing unease about Trump’s crypto agenda.
Trump’s crypto involvement extends beyond personal investments.
On March 5, 2025, he hosted a White House summit with crypto leaders like the Winklevoss twins and Coinbase’s Brad Armstrong, signaling strong industry support, per Raw Story.
His appointment of Paul Atkins as SEC chair has led to dropped legal actions against platforms like Coinbase and Kraken, reversing Biden-era enforcement.
A July 2025 White House crypto report, praised by industry figures like @coinbureau on X, called for SEC-CFTC cooperation, DeFi innovation, and a Strategic Bitcoin Reserve, aiming to make the U.S. the “Crypto Capital of the World.”
However, ethical concerns persist. A May 23, 2025, event at Trump’s Virginia golf club, where he addressed 200 top $TRUMP memecoin investors behind a podium with the Presidential Seal, sparked legal scrutiny.
Attorney Tracey Beryl Gallagher noted that using the seal for a for-profit event likely violates federal law (18 U.S.C. § 713 and Executive Order 11649), as it implies government endorsement of private activities, per Raw Story.
Trump’s crypto push, including the GENIUS Act and proposed CLARITY Act, has fueled a market boom, with Bitcoin and other assets surging post-election, per The Wall Street Journal.
Yet, the Journal’s editorial board warned of “flashing-red political risks and ethical conflicts,” noting that foreign officials or businesses could buy Trump’s tokens to curry favor, risking accusations of self-dealing.
The New York Times reported Democratic senators, including Warren and Jeff Merkley, are seeking an Office of Government Ethics investigation into Trump’s crypto dealings, citing a $2 billion deal with an Emirati venture fund as a potential national security risk.
As Trump’s administration advances its goal of a U.S. Crypto Reserve, critics warn that prioritizing personal profit over regulatory stability could destabilize markets and erode public trust.
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