In American political history, no president has ever intertwined national power, personal branding, and financial speculation into a global-scale experiment quite like Trump.
The fusion of money and power is nothing new, but when this fusion manifests as “tokens,” when the image of a head of state is minted into a tradable asset, and when political influence can freely circulate on the blockchain— What we now confront is no longer corruption in the traditional sense, but a systemic reconfiguration.
This article documents not a single scandal, but a paradigm shift: the president is no longer merely a political figure, but the largest token holder in a decentralized economy; diplomatic relations are no longer forged through secret negotiations, but linked by wallet addresses. Technology, once seen as a guarantor of transparency and fairness, may now become a new power broker.
As cryptocurrency enters the White House and the digital shadow of the dollar intertwines with national will, we must confront a fundamental question: In this era of “on-chain sovereignty,” do the boundaries of power still exist?
The following is the original content.
The New Wallet of Power: How Cryptocurrency Entered the White House
If you were an authoritarian leader seeking to influence another head of state, you might gift them a fully customized Boeing 747 jet; you might splurge at their hotel or invest in one of the many businesses they or their children own; you could even purchase their branded sneakers, NFTs, or other merchandise.
In the case of President Trump, potential “power brokers” had an even more extensive menu of options.
But now, all that seems redundant.
During his campaign, Trump announced his cryptocurrency venture—World Liberty Financial—and launched a “meme coin” bearing his name just days before taking office. Anyone purchasing World Liberty tokens indirectly funnels money into the Trump family business. Through crypto projects controlled by the president, his sons, and family associates, the Trump clan has amassed billions in paper wealth.
World Liberty has become a powerful conduit for influence: anyone—whether you, me, or an Emirati prince—can line Trump’s pockets simply by purchasing tokens issued by the company.
The key lies in this “convenience.” For those seeking influence, cash-filled suitcases and Swiss bank accounts have been replaced by crypto tokens that can be swiftly transferred between wallets and exchanges. More sophisticated crypto users—state actors, hacker groups, money laundering syndicates—can further obscure transaction trails using tools like “mixers.”
This very convenience makes cryptocurrency the tool of choice for criminal organizations and sanctions evaders.
The Illusion of Transparency: When Corruption Occurs in the Name of “Decentralization”
This is unprecedented in American political history.
Looking back at scandals from past administrations—from corrupt aides surrounding President Grant, to oil lease bribes in the Teapot Dome scandal during the Harding era, to Nixon’s Watergate—none have seen such a massive blurring of personal and governmental interests as under Trump, nor has anyone profited personally on such a colossal scale.
There is nothing innovative here. The true novelty lies solely in a sitting president openly leveraging his name, image, and social media influence to promote cryptocurrency tokens indistinguishable from thousands of other products on the market. To MAGA supporters and ordinary speculators, buying these tokens might mean “betting the farm”; yet a president leading political supporters into such high-risk investments is itself a reprehensible act.
The greater risk lies in powerful foreign entities potentially funneling massive funds to Trump through this channel.
For any head of state, purchasing Trump’s tokens or investing in his crypto projects has become a direct form of political speculation.
This is precisely the perverse incentive created by Trump’s “crypto donation box.”
Consider two recent multi-billion-dollar transactions involving Sheikh Tahnoon bin Zayed Al Nahyan—one of the UAE’s most influential figures—and Trump’s Middle East envoy Steve Witkoff:
In the first deal, the sovereign wealth fund led by Tahnoon committed to investing $2 billion worth of USD1 stablecoins (issued by World Liberty Financial) into Binance, the world’s largest cryptocurrency exchange. (Stablecoins are cryptocurrencies designed to maintain stable value and serve as digital dollar substitutes.)
Notably, Binance founder Changpeng Zhao is seeking a pardon from Trump after pleading guilty to money laundering charges.
In the second deal, Witkoff and Trump-appointed “AI and Cryptocurrency Director” David Sacks brokered an agreement allowing the UAE to purchase hundreds of thousands of high-end AI chips for data center construction. These chips are highly sought-after in the global AI race and subject to strict export controls. Experts fear the UAE could resell or share them with Chinese companies.
While no concrete evidence points to explicit quid pro quo in these deals, the overlapping participant networks and blurred lines between public and private interests increasingly define the Trump administration.
Tachnon’s use of the $2 billion USD1 stablecoin is intriguing in itself.
If his sole purpose was to invest in Binance, a direct wire transfer would suffice.
Choosing World Liberty Financial’s USD1 stablecoin as an “intermediary” effectively serves as a “blood transfusion” for a company directly benefiting Vitkov and Trump.
Despite the scandalous overtones, Trump’s crypto activities largely unfold in relatively open environments.
Some notorious crypto figures have even flaunted multimillion-dollar purchases of WLFI tokens on social media.
Among the most vocal is Chinese crypto entrepreneur Justin Sun—who frequently showcases his substantial holdings of World Liberty and Trump meme coins on social media, positioning himself as a key supporter of Trump’s crypto empire.
In February this year, the U.S. Securities and Exchange Commission (SEC) requested a federal judge to suspend its civil fraud lawsuit against Sun Yuchen, and the court granted the request. In May, Sun Yuchen, as one of the top holders of Trump meme coins, was invited to attend a dinner at Trump National Golf Club in Virginia—where he received a gold watch from the President.
In the past (just a few years ago), such an obvious conflict of interest involving the president would have prompted congressional hearings and investigations by law enforcement agencies.
But the Supreme Court’s recent ruling on “presidential immunity” has rendered these oversight mechanisms nearly obsolete.
The Justice Department does not prosecute sitting presidents.
At the start of his new term, Trump fired 18 chief inspectors general—key figures who could have exposed and investigated the administration’s crypto activities. In February, he also ordered the Justice Department to suspend enforcement of the Foreign Corrupt Practices Act (which prohibits bribing foreign officials), only resuming it four months later.
Meanwhile, regulators have shifted their focus away from the cryptocurrency sector, while the Trump administration has helped advance a legislative agenda favored by the crypto industry.
The accumulation of crypto wealth by Trump and his offspring appears poised to continue swelling throughout his term.
No “cap” has yet emerged to halt the steady influx of foreign capital. This open door has paved the way for a level of corruption unprecedented in American history. We must confront the dark possibilities it brings.
