Trump’s New Cryptocurrency Makes Him Billions as He Enters Office

Zara S. & Irina Park

Just days before his inauguration, Donald Trump unveiled his own cryptocurrency, $TRUMP, pocketing $58 billion in just 48 hours. The coin’s value skyrocketed by over 600% overnight, with 80% of its supply controlled by Trump-affiliated organizations. Days later, Trump signed an executive order forming a cryptocurrency working group to regulate markets, integrate cryptocurrencies for mainstream use, and create a national cryptocurrency stockpile, led by financial capitalist David Sacks.

Cryptocurrency is an investment scheme which promises wealth through speculation and deregulation. This move underscores how politicians use their positions to integrate new financial schemes into the imperialist system while personally profiting.

This manipulation of positions by the ruling mafias isn’t limited to cryptocurrencies. In 2024, 37 members of Congress and their families traded defense stocks worth up to $113 million, often while serving on committees shaping war policy. Former Speaker Nancy Pelosi’s family, for instance, profited from Microsoft stocks ahead of a $22 billion Army contract, through which Microsoft’s military software division stood to gain.

The electoral farce stands out shamefacedly in this latest case of financial speculation, where securing positions, especially Trump’s executive position as arch-reactionary-in-chief, deepens the links between the demo-bourgeois state and capital. Lenin teaches that the “democratic” capitalist state is connected through a million and one links to the stock market, wedding the state’s bureaucracy to the class of masters. As the imperialists continue to reactionize, concentrating power around the executive branch, Trump’s windfall crypto play increasingly reveals the connection of these links.

The Worker is an entirely volunteer-run revolutionary newspaper free from and radically antagonistic to corporate influence. We rely on the support of our readers to sustain our editorial line in service of the working class and the reconstitution of its party, the Communist Party. Make a one-time or recurring donation to our newspaper today: