Analyzing the Misleading Claims About Trump’s Net Worth and Crypto
U.S. President Donald Trump's recent launch of a crypto token just before his inauguration on Monday has sparked new conflict-of-interest concerns, according to ethics experts and industry insiders. Although Trump has promised to transfer management of his assets to his children, the crypto asset is causing particular worry due to its potential to rapidly attract billions of speculative dollars with minimal transparency.
The companies behind the "meme coins" $TRUMP and $MELANIA, named after first lady Melania Trump, claim that these tokens are not investments or securities but rather an "expression of support."
Trump’s Executive Orders and Crypto Token Claims
Following the launch of a crypto token, a video has been widely circulated on social media claiming to show President Trump recently signing an executive order eliminating all capital gains taxes on U.S.-based cryptocurrencies.
President Trump reportedly signed around 200 executive actions on the first day of his second term in office, including legally binding executive orders and other directives like memorandums and proclamations that are not always legally binding. However, these actions did not include an executive order removing the capital gains tax on U.S.-based cryptocurrencies. The video claims, "President Trump signs an executive order designating the cartels as foreign terrorist organizations."
On January 20, 2025, President Trump signed a series of executive orders aimed at reversing Biden-era policies and fulfilling campaign promises. Key actions included declaring a national emergency at the U.S.-Mexico border, reinstating the "Remain in Mexico" policy, and attempting to end birthright citizenship for children of undocumented immigrants.
He also declared a national energy emergency to promote deregulated drilling, withdrew the U.S. from the Paris Climate Agreement, and dismantled diversity, equity, and inclusion initiatives within the federal government. Additionally, Trump pardoned many January 6 defendants and withdrew from the World Health Organization, citing its mishandling of the COVID-19 pandemic. Other orders included a hiring freeze for federal employees, a return to in-office work, and various measures targeting free speech and trade practices.
Analyzing the Misleading Claims About Trump’s Net Worth and Crypto
Another claim surfaced on X, stating that Trump’s net worth skyrocketed from $5.8 billion to $75 billion in just two days due to the power of cryptocurrency.
Misbar investigated the viral claim and found it to be misleading. President Donald Trump did not gain tens of billions of dollars during his inauguration due to the cryptocurrency token. According to CoinMarketCap, a price-tracking website for crypto assets, $TRUMP quickly went viral and surged in value, increasing by over 1,100% from $6 to $75 within 36 hours before dropping back to below $38 by Tuesday. The value of the $TRUMP coins reached nearly $7.72 billion.
According to the BBC, CIC Digital LLC and Fight Fight Fight LLC, an affiliate of the Trump Organization, own 80% of the tokens. It remains unclear how much money Trump might make from the venture. However, even if Trump controlled the entire stake, he would have gained $6.216 billion, which is far less than the claimed $75 billion.
Read More