Author: Jack Inabinet, Bankless Analyst; Translation: Jinse Finance xiaozou
Just six months after the "King of Crypto" returned to the White House, this self-proclaimed "Crypto President" has been extremely busy. The latest reports show that the first family has earned over $600 million in cash through token sales and holds a crypto-related investment portfolio worth billions of dollars.
Today, we will delve into the Trump family's most notable crypto layout and explore the far-reaching implications of their strong push into cryptocurrency.
1. Trump Digital Trading Cards
Trump's first foray into the cryptocurrency realm - "Trump Digital Trading Cards" was launched on the Polygon PoS chain in December 2022.
The initial series included 45,000 digital cards priced at $99 each, which sold out within hours, creating over $4.4 million in initial sales. Subsequently, three additional subseries were added, with tens of thousands of unique digital cards issued in total.
Although promoted as digital collectibles for personal entertainment, not investment-related and unconnected to Trump's political campaign, cardholders can still enjoy multiple physical benefits: including a guaranteed invitation to dine with Trump at Mar-a-Lago, authentic tailored fabric from the 2024 presidential debate "KO suit", and free Trump sneakers.
The digital cards supported credit card and cryptocurrency purchases during the initial sale and could be traded on regular NFT marketplaces like OpenSea after release. All secondary market sales of Trump Digital Trading Cards are subject to a 10% royalty.
2. World Free Finance (WLFI)
World Free Finance is essentially a Trump-related investment DAO holding nearly $200 million worth of mainstream cryptocurrencies - from stablecoins to major coins like BTC and ETH, and various Altcoins (including TRX, ONDO, and MOVE).
Although initially promoted as a native crypto lending application similar to Aave, World Free Finance has made no substantial progress in deploying on-chain money markets, with only a "coming soon" note next to the "lending" button on its official website.
Unlike the TRUMP and MELANIA meme coins (which can be freely purchased), only qualified investors meeting US SEC Regulation D and S exemption requirements (certified US investors and non-sanctioned international investors) can participate in WLFI investments.
While the World Free Finance governance layer recently voted to remove WLFI token transfer restrictions, it will continue KYC re-examination and compliance monitoring to ensure tokens do not fall into unauthorized buyers' hands.
In March 2025, WLFI launched USD1, a US-anchored stablecoin backed by short-term US Treasury reserves and custodied by BitGo. As of writing, USD1 has a market cap of $2.2 billion, ranking seventh among stablecoins, just behind Dai from MakerDAO/Sky.
In addition to holding 2.25 billion WLFI tokens, the Trump family owns a 40% stake in "WLF Holdings LLC" - the company developing World Free Finance that receives 75% of token sale revenues.
3. TRUMP/MELANIA Coins
These meme coins, modeled after the President and First Lady, were launched in January 2025 shortly after Trump's inauguration. While both have generally shown a unilateral downward price trend, the TRUMP token has experienced periodic surges due to various announcements.
For example, the token's price doubled when Trump announced inviting 220 TRUMP holders to a private dinner in late April, and rose 10% after Eric Trump revealed that World Free Finance would purchase a "large TRUMP position" for the Treasury.
Any user can purchase TRUMP and MELANIA coins through decentralized exchanges like Uniswap, and some centralized exchanges (including Binance, Coinbase, Kraken, and Robinhood) have already listed one or both token trading pairs.
4. Trump Media & Technology Group (DJT)
Founded by President Trump in 2021, the "Trump Media & Technology Group" is the owner and operator of the alternative tech social platform Truth Social, custom-developed based on the open-source social media framework Mastodon.
In March 2024, through a merger with the special purpose acquisition company Digital World Acquisition Corp under Shanghai ARC Capital, Trump's media company went public with the stock ticker "DJT".
In May 2025, Trump Media disclosed raising $2.5 billion from approximately 50 institutional investors to establish a Bitcoin reserve. In early June, the company submitted a shelf registration statement to the SEC, planning to issue an additional $12 billion in securities to fund subsequent Bitcoin acquisitions. If fully executed, this would make DJT the world's second-largest crypto asset holding company, second only to Strategy.
To support its transformation into a crypto asset holding company, Trump Media has partnered with Crypto.com to launch a series of securities and crypto ETFs featuring a "Made in America" concept through the upcoming Truth.Fi financial services platform. As of writing, DJT has submitted applications for three crypto ETFs to the SEC.
Additionally, on July 9th, Truth Social announced that users subscribing to the $9.99/month "Trump Media Patriot Package" will receive functional tokens stored in the "Truth Digital Wallet", which can be used to purchase goods and services within the "Truth ecosystem".
5. American Bitcoin
American Bitcoin is a joint venture subsidiary of Bitcoin mining company Hut 8 and "American Data Center", focusing on "industrial-scale Bitcoin mining and strategic Bitcoin reserve development". Established in March 2025, under the merger agreement, Hut 8 will transfer most of its ASIC mining machines to the American Data Center company supported by Donald Trump Jr. and Eric Trump, in exchange for 80% equity in the joint venture.
Eric Trump was appointed Chief Strategy Officer. According to the company website, American Bitcoin has unique advantages: leveraging Hut 8's mature mining operations while combining Eric Trump's "business acumen, capital market expertise, and firm commitment to advancing decentralized financial systems".
On June 10th, American Bitcoin disclosed purchasing $23 million worth of Bitcoin. The company subsequently announced raising $220 million through private placement to fund future Bitcoin acquisitions and additional mining equipment.
6. Metaplanet (formerly Red Planet)
Metaplanet is a Japanese hotel holding group that faced insolvency due to continuous COVID-19 impacts. After being acquired by Evolution Financial Group, it avoided delisting from the Tokyo Stock Exchange.
In June 2024, Metaplanet took its first step towards transforming into an "top Asian crypto asset reserve platform" by raising 1 billion yen through bond issuance to Evolution Financial Group to purchase Bitcoin. Subsequently, through a combination of stock and bond issuance (funds entirely from Evolution Financial Group's "Evo Fund"), the company accumulated an 8,888 Bitcoin reserve worth 122.2 billion yen.
Japanese securities brokerage accounts currently do not provide spot Bitcoin custody services. Unlike similar crypto reserve companies, Metaplanet frequently sells cash-secured put options to acquire Bitcoin, a strategy that earns option premiums while allowing token purchase at prices lower than the option issuance price.
On March 20, 2025, Eric Trump, Donald Trump's second son, was appointed as the first member of Metaplanet's "Strategic Advisory Committee". Bitcoin evangelist David Bailey, founder of Nakamoto Capital, subsequently joined the team in April.
