Sorting out Trump's crypto territory, the ability of the currency circle, the president's "alchemy"

Trump wants to build a "crypto monopoly"?

Looking back at Trump's crypto journey, we have to start with digital cards at the earliest. In June 2021, Trump at the time also advocated the "Great Dollar Theory", denouncing cryptocurrencies as "scams" that affect the value of the dollar, and also saying that cryptocurrencies should be closely regulated. But in less than a year and a half, Trump has realized the law of true fragrance.

But Trump doesn't care about the face of the market, he only cares about actual interests. Shortly thereafter, Trump released a third series of MugShot Edition NFTs, this time even more outrageous, with a total of 100,000 NFTs, no price increases, and special benefits, an invitation to a reception for $10,000, and a unique Ordinal digital trading card limited to 200 pieces. It is precisely because of this series that there is a follow-up to Trump's "Make NFT hot again". A simple calculation shows that the Trump team has attracted $19 million in just three sets of NFTs, and according to its financial disclosures, the actual profit from NFTs has reached millions of dollars.

As soon as Trump talked about the future of stablecoins at the inaugural White House Crypto Summit, the family business kicked in. On March 25, WLFI announced the launch of a stablecoin called USD1, which is pegged to the U.S. dollar and 100% backed by U.S. government short-term Treasuries, U.S. dollar deposits, and other cash equivalents. USD1 will be minted on the ETH and BSC blockchains, with plans to expand to other protocols in the future, and the USD1 reserve will be held in escrow by BitGo. As of now, according to CoinGecko data, the USD1 turnover has exceeded $44.91 million.

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Due to the unlocking problem, the actual profit is not as large as imagined. In terms of token distribution, TRUMP has a total supply of 1 billion, but only 200 million are initially in circulation, and the remaining 800 million is expected to be unlocked linearly over a period of 3 years. Two subsidiaries of the Trump Organization hold an absolute share, Trump's companies CIC Digital LLC and Fight Fight Fight LLC, which will sit on 80% of the TRUMP tokens, with a lock-up period of 3-12 months, unlocked over the next 24 months, and a current book profit of about $6.344 billion.

As mentioned before, Trump's business philosophy adheres to the principle of traffic monetization, and the currency circle, which has always been traffic-oriented, is obviously very suitable for its business characteristics, and with the support of its own controllable policies, Trump can continue to raise the currency market by releasing benefits, and can also directly use his influence to cut into the most lucrative and most promising policy areas, which is undoubtedly an alternative political corruption and insider trading. Looking at its layout in the crypto field, before and after the government released the signal, the family team quickly followed up, and interest groups were formed. A case in point, one of the co-founders of WLFI is Zach Witkoff, the son of the Trump administration's special envoy for the Middle East, Steve Witkoff.

It seems that the policies controlled by Trump are monolithic, but arbitrary regulation can easily induce political conflicts, especially in the current complex political situation in the United States, there is a possibility of regulatory backlash. Investment bank TD Cowen said today that the Trump family's crypto business, including the planned launch of stablecoins, could trigger a backlash and delay the U.S. regulatory process, and that political risks are climbing despite lawmakers accelerating crypto regulations.

What can be seen with the naked eye is that the Trump family's pace of profit has not stopped. Less than half a year after taking office, billions of dollars have been absorbed on the books, and at the end of the four-year term, how much money can be made? The evaluation of the ability to govern has not yet begun, and the most profitable president of the United States seems to have been born.