Over the past few years, the Trump family has ventured into the cryptocurrency, NFT, and DeFi spaces, directly or indirectly, capitalizing on their brand value and the burgeoning interest in digital assets. These ventures, however, have been surrounded by a mix of enthusiasm, skepticism, and controversy. This article thoroughly examines the most significant crypto and DeFi projects associated with Donald Trump, his family, and their inner circles, focusing on their broader impact and market dynamics.
Crypto and NFT Projects Linked to the Trump Family
Trump Digital Trading Cards (NFTs)
In December 2022, Donald Trump launched his Trump Digital Trading Cards as NFTs on the Polygon blockchain. These digital collectibles featured caricature-style images of Trump in various costumes and personas, from a superhero to an astronaut. The launch stirred widespread attention both politically and in the crypto community. Initially, the NFTs sold out quickly, but the project’s sustainability has been questioned.
Launch and Hype: The Trump Digital Trading Cards initially sold out quickly, raising over $4.4 million within 24 hours. Buyers were offered the chance to win special rewards, such as dinner with Trump or a private meet-and-greet.
Price Trends: As per the latest data, prices for these NFTs peaked around 0.2 ETH in August 2024 but have since dropped to a more stable range of 0.05 to 0.1 ETH. The volatility reflects early speculative buying followed by market correction. However, If we believe the Polymarket bet and Donald Trump becomes the new US president, the price of this asset is expected to increase.
Volume and Sales: Over the last 90 days of publishing this article, the Trump Digital Trading Cards have seen 94 ETH in trading volume, with 1,021 sales. Despite a 15% increase in sales, the lack of a floor price indicates that interest is waning and may not be sustained in the long term.
The DJT Token: The Shkreli and Barron Trump Connection
The DJT token, launched in 2024 on the Solana blockchain, is another significant crypto project associated with the Trump family. This project became particularly controversial due to the alleged involvement of pharma bro Martin Shkreli and Barron Trump.
Initial Skepticism: Initially dismissed as a meme token, DJT gained attention when prominent crypto figures like ZachXBT and GCR started investigating the wallet activity linked to the token. Early on, it was unclear if Barron Trump had any real involvement, leading to significant skepticism from the crypto community.
The GCR vs. Shkreli Bet: The DJT token’s legitimacy became a subject of debate when GCR, a well-known crypto influencer, publicly bet against the token, stating that it was likely a scam. In response, Martin Shkreli, who had just been released from prison, defended the token. After private exchanges, GCR eventually issued an apology to Shkreli, acknowledging that Barron Trump’s involvement might be real to some degree.
Retail Dumping: Despite these revelations, the DJT token followed the typical meme coin pattern, with initial speculative buying followed by sharp sell-offs. Wallet analysis revealed that multiple connected wallets, thought to be associated with Shkreli and his team, dumped their holdings on retail investors, causing a major price crash.
The World Liberty Project – Trump Decentralized Finance Project
The World Liberty Project, launched in 2024, marks Donald Trump’s entry into decentralized finance (DeFi) with a controversial twist. This blockchain initiative targets a global audience while deliberately excluding U.S. citizens, a move designed to avoid American regulatory scrutiny.
Project Overview – World Liberty Finance
As announced on X (formerly Twitter) via posts from both the World Liberty Project and Donald Trump himself, the project promises “financial freedom through decentralized technology.” Its goal is to create a global financial ecosystem that challenges traditional systems. However, the exclusion of Americans sparked criticism. Trump’s statement on X indicated that the decision aimed to avoid complications with U.S. regulators.
Political and Financial Motivations
The exclusion of U.S. participants has raised eyebrows, particularly given Trump’s “America First” stance. Analysts speculate that the project is politically motivated, prioritizing global influence over domestic interests. Coverage from Decrypt highlighted concerns over whether this project represents a challenge to centralized governance and financial systems.
Criticisms and Controversy
Key criticisms include:
Transparency Issues: Many question the project’s transparency, including the lack of clarity about key backers beyond Trump’s involvement.
Exclusion of Americans: Seen as ironic given Trump’s nationalist policies.Regulatory Avoidance: The ban on U.S. participants sidesteps strict American crypto regulations.
Melania Trump’s NFT Collection
In December 2021, Melania Trump launched her own NFT project, starting with an NFT titled “Melania’s Vision.”
Her NFTs have been sold through the Solana blockchain, and she announced an ongoing NFT platform focusing on art and philanthropy.
Melania’s Involvement: She claimed a portion of the proceeds would go toward charity, and her NFTs often feature themes around American history and patriotism
Conclusion
The Trump family’s involvement in crypto and blockchain projects appears to be growing, despite Donald Trump’s initial skepticism about the space. From NFTs to meme coins, and DeFi ventures like the World Liberty Project, the Trump name has become a selling point in the crypto industry. However, the controversy surrounding these projects, especially the DJT token and its connection to Shkreli, raises questions about their legitimacy and long-term viability.
Mortuza is a certified Digital marketer with a Master’s degree in International Economic Relations (Spec. International Business).
An entrepreneurial professional, crypto native, and deeply involved in web3, i.e., blockchain, NFT & metaverse community. The author spends hours researching all the exciting new trends in the broader business world.