Trump Jr. Pushes Back Hard at Token2049

Donald Trump Jr., co-founder of World Liberty Financial (WLFI), came out swinging at the Token2049 conference in Singapore, blasting accusations of conflicts of interest surrounding the Trump family’s crypto ventures as “complete nonsense.”

In an interview with CNBC, Trump Jr. laughed off claims that his father might bend blockchain policy for personal gain, saying,

“No one seriously believes my dad is combing through ledgers to hand out favors.”

Appearing alongside WLFI CEO Zach Witkoff, he stressed that WLFI is “100% not a political organization,” even as the company rapidly pursues international partnerships, expands crypto debit payment services, and rolls out tokenized commodity products.

Rapid Rise of WLFI and the Trump Crypto Portfolio

Launched in September 2024, WLFI has already made waves with its $1 stablecoin—backed by short-term U.S. Treasuries and governed by WLFI’s publicly traded token.

Corporate filings show that Trump family members and DT Marks DEFI LLC hold significant portions of both revenue and tokens, though the family does not occupy official management roles.

The Trump crypto empire has grown to staggering levels. By June, disclosures revealed President Trump owned 15.75 billion WLFI tokens—15.75% of the entire supply—netting him $57.4 million in income over the past year.

Add $1.16 million from NFT collections and millions more from $TRUMP memecoin holdings, and the family’s digital asset fortune has surged past $1.2 billion.

Expanding the Trump Crypto Empire: Mining, Treasuries, and Dogecoin

The Trump family’s reach doesn’t stop at WLFI. American Bitcoin, co-founded by Eric Trump and backed by Donald Trump Jr., surged 110% upon its Nasdaq debut after merging with Gryphon Digital Mining, briefly valuing their stake at $2.6 billion.

The company now runs roughly 6,000 rigs and recently locked in a $2.1 billion stock offering with Cantor Fitzgerald and Mizuho Securities.

Meanwhile, Trump Media & Technology Group (TMTG) raised $2.5 billion in May to amass a Bitcoin treasury—holding around 18,430 BTC worth $2.1 billion. Bitcoin now accounts for over 40% of TMTG’s market cap, even as the stock price plunged nearly 50% in six months.

In July, Trump Jr. personally invested $3.3 million into Thumzup Media Corporation, buying 350,000 shares. Thumzup, fresh off its acquisition of DogeHash Technologies, is aiming to become the largest Dogecoin mining platform globally, with 4,000 rigs expected by year’s end.

Political Firestorm Over Conflicts of Interest

Despite Trump Jr.’s denials, critics are turning up the heat. Democratic lawmakers led by Elizabeth Warren and Maxine Waters have called for formal probes into WLFI, branding it an “unprecedented conflict” that could warp crypto policy. House Financial Services Committee Democrats accuse Trump of “rewriting the rules and cashing in on chaos.”

Watchdog group Citizens for Responsibility and Ethics in Washington flagged Trump’s vast crypto ties to foreign entities, warning of transparency risks. The Washington Post added fuel, revealing that nearly 20% of Trump’s current advisors actively hold crypto.

The Trump family’s digital empire doesn’t end with mining or stablecoins. Barron Trump, dubbed WLFI’s “Web3 ambassador,” reportedly holds $40 million in token assets. The family has also launched multiple NFT card sets, two memecoins, and a $6.42 billion digital asset treasury firm with Crypto.com.

With crypto now accounting for roughly 9% of Trump’s estimated $6 billion fortune, digital assets are becoming central to the family’s financial future—even as real estate faces mounting challenges. For Trump, the pivot is clear: the new gold is crypto, and the dynasty is betting big.