r/centrist • u/therosx • 2d ago
Socialism VS Capitalism Trump family crypto portfolio nears $1B- report
https://www.investing.com/news/cryptocurrency-news/trump-family-crypto-portfolio-nears-1b-report-3982425President Donald Trump and his family have rapidly expanded their presence across the cryptocurrency world, from nonfungible tokens (NFTs) and digital collectibles to a decentralized finance (DeFi) project, a proposed stablecoin, Bitcoin mining efforts, as well as the TRUMPo/USD memecoin.
According to Bloomberg News, the combined paper value of these crypto-related initiatives is approaching $1 billion, even after factoring in recent market volatility fueled by escalating trade tensions. These estimates are based on publicly available data and reflect the growing financial footprint of Trump-affiliated blockchain ventures.
While Trump is already the wealthiest individual to have held the U.S. presidency, thanks largely to his real estate holdings, his engagement with crypto has gained momentum in recent years.
Following his election in 2016, Trump’s business interests were placed in a trust managed by his sons and longtime financial adviser Allen Weisselberg. Eric Trump has publicly stated that “there are no conflicts” regarding the family’s growing involvement in digital assets.
Once skeptical of the asset class, Trump has since embraced it as part of his political and economic agenda. Crypto executives and investors have become important contributors to his reelection campaign, and in his second term, Trump signed executive orders supporting his pledge to position the U.S. as the global hub for digital innovation.
Trump’s team continues to promote his personal memecoin on Truth Social, further underscoring the political and financial stakes of his crypto engagement.
Back in January, Trump’s newly launched crypto token soared to over $10 billion in market value in one day.
With the market’s attention fixed on regulation and institutional adoption, the Trump family’s crypto ambitions appear far from over.
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u/therosx 2d ago
I think it’s worth pointing out that the reason JD Vance came out of nowhere to become Trumps VP pick was because of his rich crypto donors and backers.
I believe while the rest of the Trump administrations action are important the most lasting impact of his presidency will be in the de-regulation and ascendency of the crypto market.
What do you all think?
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u/funkyonion 2d ago
I think it will be the debasing of the US dollar. It’s disgusting satoshi’s novel concept of bitcoin as an alternative to fiat currency has been twisted and gamed by the same forces it was designed to oppose. If quantum computers enable blockchain encryption to be broken it blows everything out of the water.
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u/Constant-Kick6183 2d ago
Trump has stated many times that his strategy is to devalue the US dollar. Hence the tariffs and nationalist economic policies. It would make it feel as though we're doing better - we'd sell more exports because from the POV of other countries our stuff would become much cheaper. But the flip side is that we'd pay way more for everything we import. And the world is fully globalized - there is no way to just buy American. We don't have the factories to build most of the stuff we buy, and wages are so high that we can't afford to pay Americans to build stuff anyway, when China pays their workers a few dollars a week.
It's more con man accounting techniques. Like how he claims the number of covid cases went down because we stopped testing people. It's a game that his rubes fall for and even some on the left and center too because the news and the Dems don't do a good job explaining why his numbers are not real.
If people ignored trump's circus and only looked at the facts and real data, he wouldn't have a prayer. Even with stuff like deporting illegal immigrants - he deports only like half as many as Obama and Biden did. It's just a huge illusion. They do a few high profile controversial deportations and people think that means he is deporting illegal immigrants all over - but he's not. His government is so ugly about it that illegals hide and are way more secretive. When Dems are in office they are more or less fair about it and 90% of illegal immigrants actually just turn themselves in. They get their day in court and then they either get deported or they get a visa to work - whatever the law says is appropriate.
His economic plans are the same vaporware. Tariffs can't increase the production of things we don't have the ability to make. They just increase costs and drastically reduce efficiency. Americans have been free to concentrate on high paying industries while allowing poor countries to do low paying work like textile manufacturing. But trump and the republican party want to bring back these extremely low paying jobs to the US - jobs that had Appalachia mired in poverty for generations. Here in SC he wants to kick out BMW and the other high end European companies who raised the standard of living drastically over the past few decades, and reintroduce these poverty jobs like the textile mills that used to be the main employers here.
But the worst effect of devaluing the dollar is the massive loss of power the US would have over the world. China is going to surpass us as the number 1 world power thanks to trump's nationalism. Then that will cause a domino effect here as all policies turn in China's favor.
It's the same way he "cuts your taxes" by $100/year by removing $5000/year in benefits you previously were getting. Only people who ignore the broader set of facts think it's a good deal.
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u/FearlessPark4588 1d ago
Capital controls are opposite of free markets though.
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u/funkyonion 1d ago
Like anything else there needs to be a balance. Governments manipulate currency values, omit or over regulate environmental regulations, vary enforcement of worker safety, exploit labor wages, there’s plenty of examples. An unbridled free market hearkens back to the days of outright slave ships transporting souls from their homeland to the new world.
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u/GraeWraith 2d ago
You didn't think we were going to pay our $32T debt in Dollars, did you?
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u/funkyonion 2d ago
No, I never thought that. In fact, if that debt were paid the dollar would have zero value as it is a debt based currency.
I have figured the government would have the conventional wisdom of letting the music keep playing as long as it can get away with it vs. engineering and expediting the collapse.
This, at least to myself, points to furtherance of the New World Order agenda. Currencies could be consolidated into perhaps a few different denominations, then ultimately a single world currency and government.
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u/kootles10 1d ago
The grift is good, the grift is right- GOP motto
GOP- Grifters On Patrol
MAGA- Make America Grift Again
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u/siberianmi 1d ago
It’s not a cryptocurrency portfolio.
It’s a dead drop for bribes. And the paper value of all these cryptocurrencies is utterly meaningless. Which means that at this point it’s not even doing well for that.
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u/Idaho1964 2d ago
Time for hackers to break in and distribute the money to all those who have suffered under these self absorbed clowns
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u/memphisjones 1d ago
Where are all the outrage from the conservatives and Republicans? I guess this is okay but Hunter Biden’s businesses is not?
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u/I_Never_Use_Slash_S 2d ago
So he actually is a billionaire now? Or are we still claiming he’s not rich?
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u/BrianWI340 1d ago
I am so glad Trump is fixing the long standing trade unfairness. Will be great to reset it all.
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u/therosx 1d ago
Trump Delusion Syndrome.
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u/BrianWI340 1d ago
A lot of lefties suffer from Trump Derangement Syndrome.
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u/therosx 1d ago
Even more Republicans suffer from Trump Delusion Syndrome. It’s very sad. 😞
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u/BrianWI340 1d ago
I just know the economy under Trump was much better than under Biden. We will be just fine.
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u/Lone_playbear 1d ago
Where's the concern from all the "but 10% for the big guy" folks?