President Donald Trump remotely rang the opening bells for the New York Stock Exchange and Nasdaq on Monday to announce the introduction of “Trump accounts.” This initiative aims to provide newborns with an initial savings of $1,000 funded by federal money and private donations, potentially reshaping financial opportunities for future generations.
However, the launch contrasts sharply with Trump’s recent cryptocurrency ventures, which have garnered headlines for all the wrong reasons. Trump branded Bitcoin a “scam” in 2021 but reportedly made over $1.4 billion through his family’s cryptocurrency activities in 2025. Meanwhile, numerous ordinary investors in these ventures suffered significant losses, with some losing their entire investments, as evidenced by Fatime Elrgdawy, a 29-year-old engineer who lost substantially in a single investment.
The Trump family established its main crypto company, World Liberty Financial, in late 2024 amid Trump’s third presidential campaign. This move followed Trump’s promises to support the cryptocurrency market, which resulted in major endorsements from industry executives during the 2024 elections. Subsequently, Bitcoin reached an all-time high in 2025 while Trump’s administration relaxed regulatory measures and pardoned individuals involved in fraud, further benefiting his family’s business interests.
Days before Trump’s inauguration, an Abu Dhabi royal’s firm quietly purchased nearly half of World Liberty Financial for $187 million, raising concerns about foreign influence in a U.S. presidential family’s enterprise. This purchase coincided with Trump’s promotion of a meme coin inspired by his own exploits, netting him around $636 million last year.
Recent data shows that about two-thirds of those investing in Trump’s meme coin incurred losses, totalling $3.81 billion. Despite the struggles for individual investors, prominent supporters of Trump’s crypto initiatives continue to thrive. While Trump has distanced himself from the intricacies of his crypto wealth, he maintains that there is nothing illegal about his financial dealings. As the cryptocurrency market experiences a downturn, the unlikely benefactors in this narrative remain those closest to power.
