Trump’s Presidency Became a $4 Billion Crypto Grift, Enriching Family and Foreign Allies

On MS NOW’s Morning Joe, Steven Rattner laid bare the staggering scale of Donald Trump’s profiteering during his second term as president — a $4 billion bonanza fueled almost entirely by crypto ventures. After a first term marked by a drop in net worth to $2.4 billion, Trump reversed course dramatically, ballooning his fortune to an estimated $6.5 billion through a dizzying array of crypto activities and pay-to-play deals.

Central to this scheme was the $TRUMP meme coin, launched just days before the 2025 inauguration. These tokens, which had no real value, surged from $7 to over $45 before crashing to just $2.38, leaving millions of small investors on the hook for $4 billion in losses. Meanwhile, 45 “whale wallets” — large holders who bought early and sold high — pocketed $1.2 billion. The Trump family itself collected $400 million to $600 million in trading fees and still controls 80% of the tokens.

The crypto bonanza was not just a domestic affair. Rattner’s reporting revealed that 76% of the top $TRUMP coin purchasers and 72% of buyers in the Trump family’s World Liberty Financial venture were foreigners. This included a $500 million investment by the U.A.E. national security adviser, with nearly $200 million flowing directly to the Trump family. Not long after, the Trump administration approved a controversial sale of advanced semiconductors to the U.A.E., reversing Biden-era restrictions.

The corruption extended beyond profiteering. Federal investigations into major crypto firms like Coinbase, Gemini, and Binance were abruptly shut down after Trump took office. He even pardoned Binance CEO Changpeng Zhao, whose company helped finance the U.A.E. stake in World Liberty Financial.

Anthony Scaramucci, Trump’s former communications chief, aptly labeled this level of corruption “Idi Amin-level.” It’s a brazen example of how Trump weaponized the presidency for personal gain, exploiting unregulated financial instruments and foreign connections while millions of Americans lost money and crypto enforcement evaporated.

This isn’t just a story about crypto or money — it’s a glaring case of political power abused to enrich a select few at the expense of democratic integrity and ordinary citizens. We’ll keep tracking the fallout as investigations into these schemes continue.