The Crypto Con: How Trump Is Looting America from the Oval Office
Molly White just dropped the kind of article every American should stop and read, because it exposes exactly how Donald Trump is using the Oval Office not to serve the people, but to build a multi-billion-dollar crypto empire for himself and his family.
He’s not just dabbling in Bitcoin. He’s actively tearing down financial regulations from inside the White House, making himself untouchable while pulling in hundreds of millions in personal profits, foreign cash, and shady tokens—all while insulating himself and his allies from oversight and prosecution.
This is what systemic abuse of power looks like in 2025. And if we don’t call it out now, we’re all going to pay for it later.
It’s messy, it’s corrupt, and somewhat complicated, but thanks to Molly’s sharp reporting, you finally have a clear view of the biggest grift in history. Here’s a quick summary of the 8 topics she discussed in “Trump’s newest grift: Building a cryptocurrency empire while destroying its regulators.”
1. Crypto Industry Cash Pipeline,
Trump has received over $20 million in political cash from major crypto players, $5 million each from Ripple and Andreessen Horowitz, plus millions more from Coinbase, Gemini, Kraken, and Circle. In return, at least eight SEC enforcement actions were dropped or indefinitely paused, allowing these companies to dodge penalties and even help rewrite the rules of their own industry.
2. Trump’s Shadow Bank: World Liberty Financial,
Trump’s crown jewel is World Liberty Financial, launched in 2024, where he quietly scooped up a 60 percent ownership stake and pocketed 75 percent of all token revenue. Their first $WLFI token sale raised a staggering $550 million, $400 million of that going directly to Trump, including $75 million from Justin Sun, a foreign national under SEC and DOJ investigation. This is a potential campaign finance crime and glaring example of how Trump is using executive power to erase investigations into people who fund his empire.
3. Truth Social’s New Grift: Truth.Fi and the $250 Million Crypto Play,
Trump owns 53 percent of the publicly traded Trump Media & Technology Group, valued around $2 billion, where they just announced a pivot into crypto under the Truth.Fi brand. The company partnered with Crypto.com, which days later saw its SEC investigation dropped after previously receiving a Wells Notice. Trump’s company also redirected up to $250 million in cash reserves into Bitcoin and crypto investments, just as Trump announced a national Bitcoin reserve plan that would inflate his own holdings.
4. Trump’s Monopoly: The Blockchain Hustle Masquerading as a Game,
Trump is developing a crypto-powered real estate game modeled after Monopoly, except this version turns political fandom into cash and exploitation. These “play-to-earn” games have a proven track record of exploitation, particularly in lower-wage countries like the Philippines, and often morph into gambling ecosystems targeting kids. Before Trump came back, these games were under federal investigation—now, the watchdogs are gone and the doors are wide open for fraud and child exploitation at scale.
Tim Miller joins Molly White to expose how Trump is turning the presidency into a crypto cash machine. They break down shady deals, gutted rules, and why it matters—whether you own crypto or not.
5. Mining Power and Profits: The Trump Family’s Bitcoin Grab,
Eric and Don Jr. recently became key players in a firm called American Bitcoin, created through a bizarre deal with Hut8, which handed over 61,000 mining machines in exchange for just 20 percent of the new company. That’s effectively an $80 million gift to the Trump family in exchange for strategic proximity. The company now plans to hold and profit from mined Bitcoin, as Trump manipulates market prices with federal announcements designed to boost his own family’s assets.
6. Memecoins and Market Manipulation: The Trump Token Scam,
Just before reentering office, Trump launched a $TRUMP memecoin, followed by a $MELANIA token, combined, these ventures have netted the family more than $350 million so far. Trump’s wallet alone cashed out $4.6 million in April, and Melania’s team dumped another $4.5 million that same month. With 80 percent control of the token supply and another 40 million tokens unlocking soon, valued at $310 million, this is a textbook pump-and-dump operation now fully immune from federal scrutiny. Make sure to read Molly’s full take on this issue in her article. Also, I shared a few thoughts in my post, The $TRUMP and $MELANIA Crypto Scandal: How a Presidential Meme Coin Cost Investors Billions.
7. NFTs, Narcissism, and Presidential Profiteering,
Trump and Melania have both raked in money from NFT schemes dressed up as patriotic merchandise. Trump’s “digital trading cards” featuring him in superhero costumes have sold millions, while bulk buyers got scraps of his mugshot suit or dinner with the ex-president in between court appearances. Melania’s efforts were less profitable but equally shady, her first NFT flopped, so she bought it herself for $170,000, and another project used NASA imagery likely in violation of federal rules.
8. Insider Trades and Hidden Wallets: The Family Crypto Secrets
Trump reported holding $1 million to $5 million in Ethereum in 2024, with blockchain records confirming a wallet containing roughly $2.3 million. He later sold off large chunks as prices moved, right around the time Eric Trump tweeted crypto investment advice and World Liberty Financial dumped its own ETH. With no oversight left and DOJ investigators ordered to focus on immigration fraud instead of crypto, the Trump family is free to manipulate markets for personal gain—and ordinary investors will never see justice.
This Is Not Just Corruption—It’s a Blueprint for Authoritarian Profit
Trump is using the presidency as a personal ATM. He’s gutting regulations, burying investigations, and replacing watchdogs with yes-men. Meanwhile, he and his family are building a financial empire on a foundation of fraud, deception, and unchecked power, and American families are being left behind in a rigged economy they’ll never benefit from.
Molly White’s article is important. Again, it’s titled, “Trump’s newest grift: Building a cryptocurrency empire while destroying its regulators.”
Read it. Listen to the audio. Share it and talk about it. Support her work by subscribing to her newsletter, because journalists like Molly are doing the work our elected representatives won’t.
Look, we can’t afford to ignore this anymore.
Our democracy is under attack from the inside.
Our economy is being looted in broad daylight.
And the same man who made this mess is sitting behind the Resolute Desk.
Time to raise hell.
— Mitch Jackson
Lawyer. Father. American who gives a damn.
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Related Posts:
The Predatory Dynamics of Memecoin Sniping: Market Manipulation in the Wild West of Cryptocurrency
Breaking: Trump’s ‘Strategic Crypto Reserve’—A Catastrophic Mistake for America
Crypto Boom or Bust? Why We Could Be Heading for a Financial Disaster Worse Than 2008
The Risks and Dangers of Cryptocurrency Meme Coins: Why Consumers Should Avoid Them Like the Plague
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On March 27, only three days after announcing a partnership with Trump’s company, Crypto.com revealed that the SEC had dropped its investigation.
Scary stuff. Thanks for letting us all know.